• Twenty-three percent of D.C. renters are "severely rent burdened."

  • Rental rates are expected to rise by 1.8 percent to 2.8 percent this year in the metro.

  • The metro appears to be an ok market for millennial renters.

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by CareyBot

Of the 11 largest metros in the nation, Washington, D.C. was recently cited as being the least affordable for the typical renter household. According to a report from New York University’s Furman Center for Real Estate and Urban Policy, 23 percent of DC metro renters were "severely rent burdened" in 2014. The primary reason why: The metro's median gross rent during the year reached $1,530 - also cited as the highest among the top 11 metros. When looking at only recently available units during 2014 that figure jumps up to $1,620. As of 2014, 34 percent of DC metro households were renters. Of those households, 29 percent lease single-family homes. Within the metro's "central city" region an estimated 57 percent of residents are renters. In a different report that eyes more ...