Home | Newsletter | Advertise
loading...

How Much Have DC-Area Rents Risen This Year?

  • October 18th 2022

by UrbanTurf Staff

2Kt-oG_o.jpeg
A rendering of a new apartment building in NoMa.

The breakneck speed at which DC-area rents have been rising over the last couple years is slowing down. 

Delta Associates released their third quarter Class A apartment report for the DC region this week, which reveals that rents for these apartments are still rising, just not as fast as they have been. Class A apartments are typically large buildings built after 1991, with full amenity packages.

Below, UrbanTurf gathered data regarding what has happened with apartment rents around the region since October 2021. 

class-a-rents.jpg
Click to enlarge.

The area around Crystal City, Virginia saw rents rise 10% for Class A units compared to a year ago; a number of other jurisdictions in the region saw single-digit percentage increases, a notable change from the second quarter of this year when neighborhoods were showing double-digit jumps. 

"Although Class A rent growth slowed down a bit, it still well surpassed the long-term average as of September 2022," the Delta report said. "We expect rent growth to continue moderating closer to the long-term average near the tail end of 2022 and beyond. Rent growth will average between 3.2% and 4.2% in 2023 – 2025, after an increase of about 6.0% in 2022."

Note: The rents are an average of studios, one and two-bedroom rental rates at Class A high-rise buildings. 

This article originally published at https://dc.urbanturf.com/articles/blog/how_much_have_dc-area_apartments_risen_this_year/20209.

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