D.C. hits housing goal of 36,000 new units early
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D.C. has reached its five-year goal of creating 36,000 new housing units by 2025, Mayor Muriel Bowser announced Monday.
Why it matters: More units will hopefully ease our local housing crunch.
The big picture: The DMV's tight real estate market has seen steadily high prices for years, thanks to low inventory and high demand.
- The median price for a DMV home continues to sit at $640,000, per BrightMLS — a record high.
Meanwhile, a recent Washington Post study found that the DMV isn't building enough homes to keep up with its growth.
- Out of all local jurisdictions, only D.C., Alexandria, Arlington County, and Falls Church were on track to meet their share of the 320,000 new homes needed to be built in the DMV over the next decade, per the study.
By the numbers: D.C. has built 36,216 new housing units since Bowser announced the push in 2019, per a city tracker — hitting 101% of its target before its 2025 deadline.
- Yes, but: The city is only at 82% of its target to construct 12,000 units of affordable housing by 2025. The mayor's office expects to hit the goal by the end of next year.
Between the lines: While planning areas in Northeast, Southeast, and Southwest have greatly exceeded their affordable housing targets, those in Capitol Hill, Near Northwest, and Rock Creek West are well below, at about 34%, 26%, and 12%, respectively.
Rock Creek West — home to some of the city's toniest neighborhoods, like Spring Valley, Cleveland Park, and Chevy Chase — has historically lagged behind in creating new affordable housing.
- In 2021, Bowser debuted a pilot program to boost affordable housing in the area, but so far, Rock Creek West has produced only 230 units out of its 1,990 goal, per the city tracker.
Zoom in: Some pushes for affordable housing in Rock Creek West have spurred debate among residents, such as whether to include multifamily housing in the redevelopment of the Chevy Chase public library and community center. (The city is moving forward with a plan that includes the housing.)
What we're watching: Affordable housing advocates such as Ward 3 Housing Justice are targeting other sites in Rock Creek West, such as the former Wardman Hotel in Woodley Park.