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Rents Rise in Most Expensive U.S. Cities, But Drop in DC Area

  • November 5, 2013

by UrbanTurf Staff

Apartment rents continue to rise in the most expensive metropolitan areas in the country. That is, except for the DC region.

Trulia’s latest Price and Rent Monitor reveals that as rents head north in places like San Francisco and Seattle, they are dropping slightly in the DC area (identified pretty broadly by Trulia, as it includes sections of West Virginia). Between October 2012 and October 2013, rents actually fell in the DC region by 1.4 percent. The area remains the seventh most expensive place to rent a home in the county, but it was the only metropolitan area in the top ten where rents fell, year-over-year.

Rents Rise in Most Expensive U.S. Cities, But Drop in DC Area: Figure 1
Courtesy of Trulia.

Trulia uses the median rent for a two-bedroom apartment as the metric by which to track rent movement. In San Francisco, that comes to $3,250 a month, which makes it the most expensive rental market in the country. The median rent for a two-bedroom in the DC area comes to $2,100 a month. In Phoenix, St. Louis and Las Vegas, the median rent for two-bedrooms comes in south of $1,000 a month.

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This article originally published at http://dc.urbanturf.com/articles/blog/rents_rise_in_10_most_expensive_u.s._cities_but_drop_in_dc_area/7782

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