What's Hot: The 2,600 Units in Progress, and 500 Units on Hold, in Rosslyn | Do Three Months of Rising Home Sales Mean The Market is Turning a Corner?
DC Area Renter Demographics Through the Decades
Median rent growth over the years.
A recent ApartmentList report illustrates how renting has evolved nationwide through the decades. Today, UrbanTurf takes a look at that evolution from the perspective of the DC area.
As prevalent as the conversation around renting has been in recent years, the DC area has a smaller proportion of renter households than it has had in the past. Around the 1930s and 1940s, upwards of 60 percent of DC-area residents were renters. That number has now dropped below 40 percent.
The numbers in the report are a bit skewed to some extent because of how the metropolitan area’s boundaries have broadened over time. Up to 1960, this region was identified as including the District; Montgomery and Prince George’s counties in Maryland; and Alexandria, Falls Church, Arlington and Fairfax in Virginia. Since that time, 1-2 additional jurisdictions were added each decade until 2000, when the list began to expand to eventually include places as far away as Jefferson County, West Virginia.
story continues belowloading...
story continues above
DC renter demographics over time.
In 1940, renters in the DC area paid a monthly median rent of $699, in 2017 dollars. The median rent rose to $895 in 1980 and $1,435 in 2016. While the changing boundaries of the metro area likely have something to do with why median rents appeared to drop sharply in 2000, from $1,194 in 1990 to $1,080 in 2000, overall, rent growth in the region largely outpaced that seen nationwide.
The report also highlights the increasing proportion of income that DC-area residents spend on rent. In 1960, the earliest year income data was available, DC-area renters spent 17.6 percent of their income on rent. By 2016, this ratio had increased by nearly 9 percent to 26.5 percent — a smaller increase than what renters nationwide experienced over the same timespan, but still notable.
The study uses data from the Census and the American Community Survey. All monetary amounts have been adjusted to 2017 dollars.
This article originally published at https://dc.urbanturf.com/articles/blog/dc_area_renter_demographics_through_the_decades1/13420.
Most Popular... This Week • Last 30 Days • Ever
509 Lloyds Lane features 6,000 square feet of naturally lit space, six fireplaces, a ... read »
Clarion Partners, the owner of the Chevy Chase Pavilion, has filed modifications to i... read »
Where it's cheaper to build than buy; Elon Musk is not making Texas happy; and the wo... read »
New renderings show the public space that will be part of the huge new residential de... read »
Several large projects are in the works across the Potomac in Rosslyn while others ha... read »
At an ANC 4A meeting on Tuesday night, representatives from Whole Foods said that the... read »
While homeowners must typically appeal by April 1st, new owners can also appeal.... read »
The application has been filed for the American City Diner along Connecticut Avenue i... read »
The 650,000 square-foot project, designed by Adjaye Associates and Hickok Cole, will ... read »
The largest development on the boards for the H Street Corridor is planned for a fami... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... read »
- In a Highly Desirable Alexandria Location, This Newly Listed Six Bedroom Home is a Timeless Classic
- Plans Progress For a New Grocery Store at Friendship Heights Mall
- Friday's Must Reads
- New Renderings Show Retail Plaza, Park at 435-Unit Takoma Metro Development
- The 2,600 Units in Progress, and 500 Units on Hold, in Rosslyn
- Whole Foods at Walter Reed To Open This Summer
- How to Appeal Your DC Property Tax Assessment
- Raze Application May Spell The End For One of DC's Last Diner Buildings
- A First Look at the Five-Building Centerpiece of the St. Elizabeth's Redevelopment
- 200-Unit Apartment Project Planned For Autozone Site Along the H Street Corridor
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. Visit guides.urbanturf.com or start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro