A computer repair shop’s signage in Clarendon (staff photo by Jay Westcott)
More Victims of Teen Groper — “As a result of the ongoing investigation, the Special Victims Unit obtained six additional petitions for Assault and Battery for the juvenile suspect. The petitions stem from four incidents occurring in November and December 2022 in which the suspect approached women from behind and grabbed their buttocks. The investigation into this series of assaults is ongoing.” [ACPD]
Realtors Endorse Board Candidates — “The Northern Virginia Association of Realtors (NVAR) has endorsed three of the six candidates seeking the Democratic nomination for Arlington County Board. Maureen Coffey, J.D. Spain Sr. and Tony Weaver have won the organization’s nod, a spokesperson for the real-estate trade organization said.” [Gazette Leader]
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…)
Tacos from Banditos Bar & Kitchen in Pentagon City (photo courtesy of Banditos & Kitchen)
In the past, big crowds have converged on Arlington’s Mexican restaurants on Cinco de Mayo and this year will likely be no exception with a number of events going on across the county.
Friday, May 5 marks the anniversary of Mexico’s victory over France in 1862’s Battle of Puebla. While considered a relatively minor holiday in Mexico, Cinco de Mayo in the United States has become a day to celebrate Mexican culture.
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.
An ART bus driver suffered serious injuries last night after being assaulted by a rider along Columbia Pike, police say.
The driver was reported to be bleeding from the mouth when police and medics were dispatched to the intersection of Columbia Pike and S. Dinwiddie Street just after 10:45 p.m. Sunday. It’s unclear what led to the attack.
Join us at Surfside Tenleytown for a Cinco de Mayo celebration you won’t want to miss! 🌮✨ An event for the whole family! Enjoy classic margaritas, Happy Hour specials, and buy two, get one free tacos (all day, dine-in only), along with face painting and balloon twisting from 3:30–7:30pm and live music from 5–10pm. Reserve your table today on Resy!
The New York City-based cookie shop is making its move into Arlington by opening up at the Crossing Clarendon at 2700 Clarendon Blvd. It is setting up shop near the back of the development, a few doors down from Barnes & Noble and next to the recently opened cosmetic dermatology business Ever/Body.
A sleeping bag and roll of toilet paper in an alcove of the elevated walkway in Rosslyn (staff photo by Jay Westcott)
Arlington County says it provided assistance to 1,070 people who were experiencing homelessness or at risk of losing housing last year.
This number is five times higher than the number of people found living outside or in a shelter one night in January 2022. One night last winter, as part of the “point-in-time” count, 182 people did not have permanent, stable housing, according to a new report on homelessness in Arlington.
2450 Crystal Drive in 2022 (staff photo by Jay Westcott)
(Updated at 11 a.m.) Crystal City, for years a grocery desert, appears set to land a coveted Trader Joe’s store.
A construction permit application has been filed for 2450 Crystal Drive, one of the newly-upgraded Century Center towers just south of 23rd Street S. It calls for “landlord prep work to prepare for new Trader Joe’s Grocery Store.”
A man walks by a rain-covered coffee shop window in Ballston (staff photo by Jay Westcott)
Group Wants More Long DCA Flights — “A coalition of business groups on Thursday launched a campaign to increase long-distance service at Reagan National Airport, arguing that rules limiting the number of flights and the distance they travel are outdated and are hurting consumers and the local economy.” [Washington Post]
Car Slams Into Glebe Guardrail — From Friday: “Roads are slick after all of today’s rain. Reader J.H. sends this photo of a car that just ran off N. Glebe Road on the hill approaching Chain Bridge.” [Twitter]
