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Class B Rents Rise in 2014, Especially in the District

by Lark Turner

Class B Rents Rise in 2014, Especially in the District: Figure 1
1500 Massachusetts Avenue NW

The strong Class A market had ripple effects on the Class B market in the DC area this year, according to a report from real estate research firm Delta Associates.

Class B Rents Rise in 2014, Especially in the District: Figure 2

Both high- and low-rise Class B buildings saw rent increases in 2014, with prices up 1.8 and 1.2 percent respectively. The biggest rent jumps were in the District proper, where they rose 5.4 percent. Rents in Northern Virginia rose 2.1 percent, while suburban Maryland rents stayed flat.

Here’s a look at average rents for high-rise Class B apartments in certain Delta-defined submarkets:

  • Upper Northwest: $2,146 a month
  • Mt. Vernon Square: $1,985 a month
  • Bethesda/Chevy Chase: $1,991 a month
  • Silver Spring: $1,651 a month
  • South Arlington: $1,506 a month
  • Falls Church/North Arlington: $2,018 a month
  • Crystal City: $2,056 a month

Note: The rents are an average of studios, one and two-bedroom rental rates at new buildings in the DC area. Class A apartments are typically large buildings built after 1991, with full amenity packages. Class B buildings are generally older buildings that have been renovated and/or have more limited amenity packages.

See other articles related to: delta associates, class b apartments, class b

This article originally published at https://dc.urbanturf.com/articles/blog/dc_areas_class_b_rents_rise_in_2014_especially_in_the_district/9382

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