In recent months, the U.S. apartment market has surged, as both rental demand and rates increased. With these developments, it is more important than ever for building owners to pay close attention to key market data and insights in order to remain competitive.
Apartments.com, the leading online apartment listing network in the U.S., delivers this crucial data and insight all in one place. Apartments.com provides reaches more renters than any other source – 27 million per month nationally - while also providing market information that helps owners maximize rents and occupancies; identify and assess competition; monitor new construction; and develop marketing strategies.
In the first quarter of 2022, renters viewed nearly 14 million DC properties on Apartments.com. Here are some of the insights gleaned from that time:
- Supply-heavy neighborhoods such as Downtown DC, NoMa, Union Market, and the Southwest and Southeast waterfronts experienced significant pricing pressure during the pandemic. However, even in areas like NoMa and Union Market where thousands of units are under construction, the average rent rose by about $100 per month during the pandemic.
- The asking rent in the Southwest/Navy Yard submarket reached $2,900 per month, in line with renter search data on Apartments.com, where 28% of apartment hunters were looking at units with a rent of $2,000+/month.
- Apartments.com renters searched primarily from the DC/Baltimore area and prioritized pets, in-unit washer/dryers, and accessibility to transit and EV charging stations.
This is just a narrow slice of the hyper-localized information that Apartments.com can provide multifamily owners and property management companies to determine how to successfully advertise and price apartments. The site's comprehensive marketing platform connects advertisers with millions of prospective renters to keep properties leased at a great ROI.
Do you need to know what local renters can’t live without? How to turn renter insights into high-quality leads? What renters in DC submarkets—like Southwest/Navy Yard—are looking for? Apartments.com creates a steady stream of features, insights, and data/trend analysis that answers those, and many more questions.
Become an advertiser on Apartments.com and gain access to Monthly CoStar reporting on competitive rents, vacancies, new construction, and more; keep current on local renter behavior and demographic trends; and tap into the insights of local CoStar economists who provide market-based updates on relevant economic and industry trends.
This article originally published at https://dc.urbanturf.com/articles/blog/why-apartments.com-is-the-leading-platform-for-hyper-local-market-insights/19879.
Most Popular... This Week • Last 30 Days • Ever
When Johnsie Walsh rented a unit in her Stanton Park apartment building, she had no i... read »
The 30,000 square-foot home has been privately offered for sale since 2018.... read »
DC's Office of Planning recently looked at DC's migration patterns in 2022. Today, Ur... read »
The residential conversion at a former bowling alley in DC is moving forward, and new... read »
For this week's rundown, UrbanTurf catches up on the latest news regarding developmen... read »
Why condo fees are high in some buildings and low in others can be a difficult questi... read »
Dupont Circle’s Swann House, a former 15-bedroom bed and breakfast, will be listed ... read »
The development will be located a few blocks south of the Takoma Metro station.... read »
There are two new proposals to redevelop the center at 14th and U Streets NW that are... read »
The M Street building was built in the early 1980s.... 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