Report: DC Renters Save 30% By Living With a Roommate

• June 18, 2013

by Shilpi Paul

Lovely

It’s well known that sharing an apartment with a roommate can save money, but just how much?

The folks at Lovely, the rental home search website, have been sifting through their data to find out exactly how much money DC area residents can save by living with a roommate.

After analyzing 200,000 listings in the area, they determined that renters in DC can save 30 percent by going from a one-bedroom to a two-bedroom rental. The average cost of a one-bedroom apartment in DC, according to Lovely, is $1,883 a month, while the average cost for a single room in a two-bedroom apartment is $1,309 per month.

Naturally, the savings increase if you are willing to move up to a three- or four-bedroom roommate situation. One bedroom in a three-bedroom home rents for an average of $776 per month in DC, and a bedroom in a four-bedroom group house situation costs, on average, $736. While more economically feasible, those situations are more difficult to find: 85 percent of the listings in the DC area — including the near suburbs — are one- or two-bedroom units.

The savings trend continues in the near suburbs. Below are statistics for rentals in Alexandria, Arlington, Bethesda and Silver Spring.

Courtesy of Lovely.

This article originally published at http://dc.urbanturf.com/articles/blog/lovely_living_with_a_roommate_can_save_you_500_per_month/7215