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28 Million Square Feet: DC Development in 2019, By the Numbers

by UrbanTurf Staff

A rendering of DC's City Ridge development.

The Washington DC Economic Partnership hosted its annual meeting today, so we decided to take a look at their newly-released annual report and pick out some of the most interesting statistics when it comes to development in the city this year.

  • $82,381 -- The median income for DC households, a 35 percent increase compared to 2010. By 2024, median income is projected to be $94,570.
  • 19,725 -- The number of 25-39 year-olds that moved to DC between 2015 and 2018. 
  • 28.4 million -- The number of square feet of development under construction in DC. Of that, 16.6 million square feet is residential, equating to 89 projects and 17,088 units.
  • $15.6 billion -- Taxable retail and restaurant sales in 2018, up 9 percent since 2017.
  • 42 -- The number of projects totaling 9.1 million square feet that delivered in the District as of August this year.
  • 10,912 -- The number of Class A apartments that delivered in the DC area between June 2018 and June 2019. 
  • 4,861 -- The number of Class A apartments that delivered in DC between June 2018 and June 2019. 
  • $2,487 -- The effective monthly rent for Class A apartments in DC. 
  • 60% -- The percentage of units to deliver in DC over the last decade that were one-bedrooms. 

This article originally published at https://dc.urbanturf.com/articles/blog/dc-development-in-2019-by-the-numbers/16137

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