News

NAACP Grant for More Trees — “Today the local branch of the oldest and largest civil rights organization in America announced a $60,000 charitable contribution to EcoAction Arlington, which was founded in 1978 and whose mission focuses on encouraging environmentally-friendly behaviors, ensuring environmental justice, and addressing the climate crisis. The NAACP selected EcoAction Arlington through a strategic grant and partnership from The Church of Jesus Christ of Latter-day Saints.” [Press Release]

Seat Belt Enforcement Campaign — “As the Memorial Day holiday approaches, the Arlington County Police Department is again partnering with the U.S. Department of Transportation’s National Highway Traffic Safety Administration to remind motorists about the importance of seat belt use. The high-visibility Click It or Ticket seat belt campaign, which coincides with the busy travel season, runs from May 22 through June 4, 2023.” [ACPD]


Sponsored

This regularly scheduled column is written by Eli Tucker, Arlington-based Realtor and Arlington resident. If you would like to work with Eli and his team in Northern Virginia and the greater D.C. Metro area, you can reach him directly at [email protected].

Question: Does the cost of renting a home in Arlington increase at a similar rate as the cost of buying a home in Arlington?

Answer: The cost of renting and buying a detached home increases at a similar rate, but the cost of renting a condo has outpaced the cost of buying a condo.

Condo Rents Rising Faster than Condo Prices

Since 2020, the cost of renting a detached home in Arlington increased at a similar rate as the cost of buying a detached home; 26% and 28%, respectively.

However, the cost of renting a condo increased significantly faster than the cost of buying a condo; 21% and 6%, respectively.

Sale Price to Rental Rate Multiple Shifts with Interest Rates

The table below shows the average price and $/SF of buying a detached home or condo relative to the average annual rent for a detached home or condo, in Arlington. Higher multiples show that buying is becoming more expensive relative to renting.

Takeaway: Condo buyers are more rate sensitive than detached home buyers and are more likely to rent (higher rental demand = strong condo rent appreciation) than buy (weakened purchase demand = low condo value appreciation) when interest rates increase. Notice how quickly the sale price to rental rate multiple drops from 2020/2021 to 2022/2023 (rates skyrocketed spring/summer 2022). (more…)


News

It has been about 10 months since Arlington County released drawings of a future Langston Blvd.

That vision included apartment buildings of up to 12-15 stories, cafés and wide sidewalks buzzing with people, and bike lanes buffered by lavender bushes — a substantial change from the commuter route lined with strip malls, car dealerships and quick-service establishments with drive-thru windows.


Announcement

The Rosslyn Farmers Market brings fresh, locally grown food to the heart of the neighborhood on Wednesdays from 2-6 p.m. beginning on May 6. Located at Central Place Plaza (1800 N Lynn St) and operated in partnership with FRESHFARM, this thoughtfully curated mid-week market connects the community with regional farmers and food producers offering seasonal produce, baked goods, ready-to-eat items, and other local essentials.

Just steps from the Rosslyn Metro station, the market is a convenient destination for Arlington residents, commuters, and visitors searching for a farmers market near Washington, D.C. From farm-fresh vegetables to artisanal breads, the Rosslyn Farmers Market makes it easy to restock your pantry or fridge with dinner-ready staples right in the middle of the workweek.


Around Town

A South American restaurant and a new bookstore appear to preparing to open at the Pentagon City mall.

Maizal Grill is planning to start serving sometime later this month, a spokesperson for Fashion Centre at Pentagon City told ARLnow. It’s opening on the mall’s street level in the former home of Honeygrow, next to Rosa Mexicano, which opened late last year.


Schools

Sofia Kaarina Kurbat from Innovation Elementary is grateful for her teachers instilling in her the joy of learning.

So, it was fitting that she was in class on Tuesday when Google paid a surprise visit to the Courthouse-area school to say her submission to the 15th annual Doodle for Google competition was named the best in Virginia.


News

A group formed to address noise issues associated with National Airport says allowing more and longer flights is a bad idea.

A bill introduced last week in Congress would “allow 28 more flights daily and permit airlines to offer more long-distance service out of National Airport, where federal rules allow only a handful of flights to operate beyond a 1,250-mile perimeter,” the Washington Post reported.


News

Amid community pressure, Arlington County is taking a closer look at ways to improve safety in Green Valley.

Some residents are pushing for more action from the county on two fronts: dealing with nuisances and more actively policing criminal activity. In response to the mounting concerns, an internal county workgroup is beginning to meet this week to find ways to do just that.


News

Redevelopment Plan for Goodwill — “An all-affordable residential development has been pitched for the site of a Goodwill store in Arlington. Goodwill and AHC, Inc. have filed plans with Arlington County for a 128-unit development at the site of the Goodwill retail store and donation center at the intersection of South Glebe Road and Arlington Boulevard.” [UrbanTurf]

Gov. Visits Local Legion Post — From Gov. Glenn Youngkin: “During the opening of American Legion Post 139 in Arlington, we rolled out the Gold-Standard Digital Hub which will improve connectivity and access to resources and benefits for veterans, transitioning service members, and their families.” [Twitter]