Washington D.C. Market Rental Trends Report
Relocity's rental trends report shows you how the nation’s major rental markets stack up and reveals 2024 pricing trends.
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Relocity's rental trends report shows you how the nation’s major rental markets stack up and reveals 2024 pricing trends.
Rental prices increased slightly over the course of the year for studios, 1 & 2 beds, but there was a steep decrease in the last 3-6 months for 3-bed apartments. This is likely due to availability during the summer when most families move, and we saw a dip in prices as we entered Fall and Winter. With the high population growth, increased wages, and additional business opportunities, many renters are willing to pay higher prices. The median rent in Washington, D.C is $2,500, 19% higher than the national median.
Alexandria, VA
Rental prices for Studio - 2BR units have seen a steady increase while 3-bed units have shown a steep decrease in the last 6-months. We typically see this decrease in the winter months. As many choose to seek housing outside of Washington, DC for cost reasons, it seems Studio & 1 bed pricing has caught up with DC pricing, but Alexandria still remains a cost saving for 2 & 3 bed apartments. The median rent price in Alexandria, VA for Oct 2024 is $2,650. This is 26% higher than the national median.
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