Last week, Apartment List released its May rent report for Washington D.C, showing D.C. metro’s rent growth surpassing that of the national average in April.
D.C. rent growth higher than national average
Over the past month, D.C. rents increased by 0.9 percent. This led to a year-over-year growth rate of 3 percent — slightly higher than the nation’s growth of 2.8 percent. A two-bedroom in D.C. is renting for the median price of $3,000, with one-bedrooms at $2,170.
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Most expensive neighborhood: Foggy Bottom-GWU-West End
Foggy Bottom-GWU-West End continues to be D.C.’s most expensive neighborhood for renters. A two-bedroom in the neighborhood rents for a median price of $4,660, and one-bedrooms are at $2,810. Rents in this neighborhood increased by 5.4 percent in the past month and 6.1 percent in the past year overall.
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H Street-NoMa experiencing the fastest rent growth
The neighborhood experiencing the fastest rent increase in D.C. right now is H Street-NoMa. Rents here have increased by 7.8 percent over the past year and 2.7 percent over the past month. Median two-bedroom rents here are currently at $3,190 and $2,220 for a one-bedroom.
For methodology and data for other neighborhoods and cities in Washington DC, see Apartment List’s City Report.
Yuki Graviet Knapp is a Content Marketing Associate with the Growth Team at Apartment List and is a resident of the Bay Area.
