DC rent growth remains stable with influx of new stock

  • U.S. rents were up 5 percent annually in August, slowing from the 6-plus percent increases reported for the majority of the year.
  • Washington D.C. and Baltimore annual rent growth reached 3.6 percent and 3.2 percent, respectively, in August.
  • Completions in Washington D.C. made up 3.6 percent of the total stock of new homes, with 17,800 new units forecasted by the end of 2016.

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The Yardi Matrix U.S. Multifamily Outlook for fall 2016 found that national rent growth has continued but slowed, while a couple bursts of job growth has helped propel the market forward.