DC Area Class A Rents Rise at Fastest Pace Since 2010
Rendering of rentals planned at 301 Florida Avenue
In the last 12 months, Class A apartment rents in the DC area rose at their fastest pace since 2010, according to a new quarterly report from Delta Associates.
The rents for Class A apartments (defined as large buildings built after 1991, with full amenity packages) rose 2.6 percent over the last year, with the largest increases in the Upper NW sub-market (6.9 percent), Rosslyn-Ballston Corridor (4.7 percent) and Silver Spring/Wheaton (7.1 percent).
Rental rates went up as absorption rates remained well-above their long-term average.
story continues below
loading...story continues above
“Washington continues to experience above-average Class A absorption, as 12,427 Class A units were absorbed in the 12-month period ending March 2016 — more than double the region’s 10-year average,” the Delta report stated.
Although absorption has outpaced the number of rental units delivered over the past year, rent growth is expected to slow as a large volume of new apartments comes online this year.
Here is a quick snapshot of average rents for Class A rentals in high-rise apartments in DC area sub-markets, as defined by Delta:
See other articles related to: absorption rate, class a, class a apartments, class b, class b apartments, dc apartments, dc area market trends, delta associates, rent, rent affordability, rent increase, rental rates in dc, renting, renting in dc, rents across dc
This article originally published at https://dc.urbanturf.com/articles/blog/dc_area_rents_have_risen_at_fastest_pace_since_2010/11083.
Most Popular... This Week • Last 30 Days • Ever
DC's homebuyer assistance programs can be a bit complex. This edition of First-Timer ... read »
In this article, UrbanTurf looks at the estimated annual maintenance costs associated... read »
Plans for the development at a prominent DC intersection began nearly eight years ago... read »
Today, UrbanTurf is examining one of our favorite metrics regarding competition in th... read »
The residential development in the works along Florida Avenue NE is looking to increa... read »
- First-Timer Primer: DC's Home Buyer Assistance Programs
- What Are the Annual Maintenance Costs When You Own a Home?
- 388-Unit Development At Site of North Capitol Street Exxon Nears Completion
- The 6 Places In The DC Area Where You Aren't The Only One Bidding On a Home
- 46 to 48: The Biggest Project In Trinidad Looks To Get Bigger
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
Unique Spaces
Awesome and unusual real estate from across the DC Metro