Rental prices increased slightly over the course of the year for studios, but 1-3 bedroom apartments have decreased pretty substantially over the past quarter. This is likley due to the change in seasons bringing in the end of the year and colder months. With the high population growth, increased wages, and additional business opportunities, many renters are willing to pay higher prices, but the decrease in costs is more than welcome. The median rent in Washington, D.C is $2,452. This is 27% higher than the national median.
Alexandria, VA
All apartment styles have decreased over the last 3-6-months while 3-bedroom apartments have taken the biggest decrease in rent over the last quarter. Over the past few months, inventory has increased iin Northern Virginia leading to rent prices coming down slightly in the sought after Alexandria neighborhood. With winter underway, the cold has also assisted in decreasing the average rent in the area. The median rent in Alexandria, VA is $2,300. This is 19% higher than the national median.
Apartment Listings
Below are some recent listing examples.
(Data sourced from Apartments.com)