Home | Newsletter | Advertise
loading...

DC-Area Renters Need to Earn $81,560 to Afford Median Rent, Per Report

  • January 23rd

by UrbanTurf Staff

✉️ Want to forward this article? Click here.

A new report estimates how much DC-area renters need to earn in order to afford rent in the region. 

Redfin recently found that a renter needs to have an income of approximately $81,560 in order to afford the median rent of $2,039 a month in the DC area. Surprisingly perhaps for some UrbanTurf readers, that makes the region one of the more affordable metros for renters in the country.

rent.jpg
Click to enlarge.

Nationally, renters need to earn $63,680 to afford the median asking rent of $1,592 a month. That income level is the lowest it has been in almost three years.  

“Rental affordability will continue improving this year, as wages grow and rents remain flat, thanks to the recent boom in apartment construction,” said Redfin Senior Economist Sheharyar Bokhari. 

This article originally published at https://dc.urbanturf.com/articles/blog/dc-area_renters_need_to_earn_81560_to_afford_median_rent_per_report/23106.

DC Real Estate Guides

Short guides to navigating the DC-area real estate market

We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!

First-Timer Primers

Intro guides for first-time home buyers

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse