Apartment rents have been holding largely stable nationwide since the post-pandemic surge two years ago, but average rents in some major metropolitan areas have seen double-digit annual increases, with the D.C. metro area at the top of the list.
Redfin said the median rent in the D.C. area in September was $2,100 a month, up 12% from a year ago. The $2,100 per month figure is the median price, with rents considerably higher in many areas.
According to RentCafe, the average apartment rent among all apartment sizes in July in the D.C. area, based on live listings, was $2,443. Its report said 67% of apartments in the D.C. area rent for more than $2,000 a month. Redfin’s median rents are based on a three-month rolling period for rents listed on Rent.com and Redfin.com.
Nationwide, Redfin’s report said the median rent was up just 0.6% from a year earlier in September to $1,634, with East Coast metro areas bucking that trend.
Click here to read the rest of the article written by Jeff Clabaugh over at WTOP
