Like many areas around the country, apartment rents in Washington, DC have risen over the last 12 months, but renters in the city might want to consider themselves lucky.
A new report from Redfin found that DC rents are up 12.4% compared to a year ago. The average asking rent in the city is now $2,586 a month. While it is a noticeable jump compared to 2021, DC renters are not paying the same increase as the rest of the country.
"The average monthly asking rent in the U.S. increased 15% year over year to a record high of $1,901 in February, the largest annual jump since at least February 2020," the report stated.
The most significant increases in rent were seen in Austin, TX (+40%) and Portland, OR (+39%). A handful of jurisdictions in New York and New Jersey saw rents jump by 36%.
For the report, Redfin used data from apartments at 20,000 buildings across the U.S. to compile rent numbers.
This article originally published at https://dc.urbanturf.com/articles/blog/dc-apartment-rents-up-124-per-report/19417.
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