Sep 12, 2024 - Real Estate
D.C.-area rent increases to over $2,200 on average
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D.C.-area rents are up 3.7% from a year ago — to $2,217 on average for a unit, according to CoStar Group data.
Why it matters: Renters here are paying about $500 more than the national average, which hasn't spiked as sharply thanks to a surge of new apartments built across the country.
By the numbers: Rents in the D.C. area are up 16.8% from pre-pandemic, per data from the end of 2019.
Zoom out: As the market cools nationally, more property managers are offering renters sweeteners such as free weeks of rent or free parking, per a recent Zillow report.
- In D.C., Zillow says that 47% of rental listings in July came with a concession, up 2.5 percentage points from a year ago.