The COVID-19 pandemic upended the D.C.-area apartment rental market. As financially impacted renters moved back home, or doubled or tripled up with friends, vacancies soared and rental rates tumbled. But renters have returned, and D.C. is one of the top mega-hubs to brush off worries of fleeing renters.
Among the nation’s top metro areas, the D.C. area ranks No. 5 for increase in overall rental activity in the first half of 2021, up 41% from the first six months of 2020, according to real estate data and research firm Yardi Matrix.
D.C. trailed only New York City, San Francisco, Seattle and San Jose for an increase in rental activity during the first six months of the year.