Courtesy of Trulia Trends
Data released today reveals that rent increases in the DC area continue to accelerate. In July, asking rents were up 3.9 percent year-over-year, following a 3.5 percent increase in June, according to Trulia’s latest Price and Rent Monitors, which were released this morning.
While that may seem like a notable increase, it paled in comparison to rents in other major market. Rents increased country-wide by 5.3 percent year-over-year, with six metropolitan areas —Seattle, San Francisco, Raleigh, Oakland, Miami and Lakeland-Winter Haven, FL — seeing increases over 10 percent.
“Rents increased year over year in 24 of the 25 largest rental markets, and rose faster than home prices in 21 of those 25,” Trulia Chief Economist Jed Kolko said. “In six major markets, rents increased by more than 10% year over year, with San Francisco clocking the largest increase at 12.4%. To put this into perspective, only two large rental markets had year-over-year rent increases of 10% or more three months ago.”
For more stats and analysis, click here.
A full explanation of Trulia’s methodology can be found here, but in short, the Price and Rent Monitors compare current asking prices and asking rents year-over-year and quarter-over-quarter, adjusting for seasonal swings.
- Champagne and Signing Bonuses: Welcome to San Fran’s Rental Market
- Capitol Riverfront and H Street See Big Rent Increases
- How to Rent Out That Spare Bedroom
This article originally published at http://dc.urbanturf.com/articles/blog/trulia_rent_increases_accelerating_in_dc/5874
Most Popular... This Week • Last 30 Days • Ever
DC's homebuyer assistance programs can be a bit complex. This edition of First-Timer ... read »
The most detailed rendering yet has been unveiled for the 310-unit redevelopment of t... read »
A look around DC to find the most equity-rich neighborhoods.... read »
Just a month after setting a new high in March, the value of a house in DC skyrockete... read »
The National Capital Planning Commission will consider approval of the final master p... read »
Our guide for amateur landlords who don't really know what they're doing.... read »
UrbanTurf has compiled virtual looks at large new developments around the DC region.... read »
When you buy a home in the District, you will have to pay property taxes along with y... read »
The eight-bedroom, 35,000 square-foot home known as The Cliffs hit the market Wednesd... read »
Brookfield Properties is moving forward with development plans for additional sites i... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... read »
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. Visit guides.urbanturf.com or start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro