This morning the Washington Post quantified what many people have observed in the past year: rents in the area are going up, fast.
According to a Delta Associates study cited by the Post, local apartment rents have increased 8.2 percent this year, to an average of $1,643. Rents in the Washington area are at 20-year highs, as people flee the housing market for rentals. Only New York City has a lower vacancy rate.
Earlier this year, we reported on the red-hot rental market in Pentagon City, where the average rent at the beginning of the year was $1,902 and rising. And Pentagon City certainly wasn’t alone in terms of rent hikes in the county.
Just how fast have rents been increasing in Arlington in the past year? Let’s find out.