DC-area renters are not getting the same bang for their buck that they did five years ago.
An upcoming HotPads analysis estimates that renters in the region pay the same amount for 95 fewer square feet today than they did in 2014. The study concludes that the median rent has risen 7.7 percent to $2,175 in the last five years while the median apartment size in the region has dropped from 1,315 square feet to 1,220 square feet.
Despite getting less space for their money, tenants in the region are still doing better than renters nationwide, who are getting 225 fewer square feet of space, or the equivalent of two fewer bedrooms, than they did five years ago. The median rent nationwide is $1,530 for a median of 1,260 square feet; five years ago, one could rent 1,485 square feet at the same price.
This article originally published at https://dc.urbanturf.com/articles/blog/rising-rates-mean-dc-area-renters-lost-95-square-feet/15246.
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