This week, Apartment List recently released its June rent report for Washington D.C. The findings? Rents in D.C. have grown more quickly than national rents between April and May, at almost 1 percent.
Washington D.C. rent growth higher than national average
Rents in D.C. increased by 0.9 percent over the past month. A two-bedroom unit now rents for a median price of $3,080, while a one-bedroom rents for $2,200. Overall, D.C. rents are 3.7 percent higher than they were at May of last year, which puts D.C. rent growth a full percentage point ahead of national rent growth.
D.C.’s most expensive neighborhood
The most expensive neighborhood for renters in Washington D.C. continues to be Foggy Bottom-GWU-West End. The median rent price for a two-bedroom apartment in the Foggy Bottom area is $4,200, while a one-bedroom rents for $2,770. Prices in this neighborhood are ahead of every other D.C. neighborhood by a wide margin of more than $600.
H Street-NoMa has D.C.’s fastest growing rents
H Street-NoMa is the neighborhood with the fastest-growing rents in D.C. in year-over-year growth, which is 7.7 percent higher than May 2015. However, Mount Vernon Square is catching up at an astonishing rate, with a whopping 3.5 percent growth in rent prices in the last month and growth of 7.6 percent since May 2015.
To find methodology and data for other neighborhoods in Washington D.C., see Apartment List’s City Report.
Yuki Graviet Knapp is a Content Marketing Associate with the Growth Team at Apartment List and is a resident of the Bay Area.