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DC Apartment Rents Up 12.4%, Per Report

  • March 21st 2022

by UrbanTurf Staff

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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