What's Hot: The 4 Projects in the Works Near DC's Starburst Intersection | A 153-Room Aloft Hotel Pitched For Mt. Vernon Triangle
What is Happening With Apartment Rents in the DC Area?
Delta Associates released their fourth quarter Class A apartment report for the DC region this week, which shows that rents for these apartments rose about 3% at the end of the year. Class A apartments are usually large buildings built after 1991, with full amenity packages.
The 3% figure only tells us so much about apartment rents, however. So below, UrbanTurf gathered data regarding what has happened with rents around the region since December 2022.
story continues below
loading...story continues above
The largest increase in Class A apartment rents was in Crystal City where rents rose about 11% between December 2022 and December 2023. While Alexandria saw rents rise 6%, most increases in the area were much more modest, in the 1%-3% range.
"We expect rent growth to be mostly below the long-term average over the next three years, however, we expect stronger growth in 2025," the Delta report said. "We project rent growth of 2% in 2024, followed by a 4% increase in 2025 and 3.7% in 2026."
Note: The rents are an average of studios, one and two-bedroom rental rates at Class A high-rise buildings.
See other articles related to: class a apartments, class a rents
This article originally published at https://dc.urbanturf.com/articles/blog/what-is-happening-with-apartment-rents-in-the-dc-area/21868.
Most Popular... This Week • Last 30 Days • Ever
In this article, UrbanTurf looks at the estimated annual maintenance costs associated... read »
Another concept has been unveiled for one of DC's most contentious development sites,... read »
Renter demand has continued to push Class A apartment rents in the DC region up this ... read »
The big news in the development pipeline east of DC's H Street Corridor is the resur... read »
A new hotel has been pitched for a development site in Mount Vernon Triangle that has... 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. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro