The number of Arlington rental units that are financially accessible to those earning less than 80% of area median income (AMI) has skyrocketed rather than plummeted over the past decade.
Not because housing is becoming cheaper, but because incomes of local residents have risen faster than the cost of renting.
Despite the federal-government shutdown, Arlington and much of Northern Virginia are seeing robust interest among potential home-buyers, something unusual this time of year.
The county recorded 728 home showings for the week ending Nov. 2, according to figures reported by the Bright MLS multiple-listing service.
A nine-story building in Courthouse could become the latest to convert from office to residential use.
A proposal by Quadrangle Development seeks to turn 365,000 square feet of commercial space at 1320 N. Courthouse Road into approximately 295 dwelling units, plus small amounts of office and retail space.
Though down month over month and year over year, Arlington’s apartment-rental market remains the priciest in the nation outside California, according to one analysis.
The median apartment-rental cost in Arlington was $2,575 in October, according to figures reported by Apartment List. That represents a drop of 0.9% compared to September and 0.7% compared to a year before — both relatively in line with national trends.
A home that could be Arlington’s next local historic district comes with ghost stories attached.
“It has had, over the years, a reputation of having paranormal activity,” said Pierre Yves Cossard, who has owned “Happinest” since 1980.
No racial or ethnic group in Arlington comes close to earning enough household income to afford median priced single-family homes in Arlington, and some groups struggle to afford median-priced condominiums, according to new data.
Even the county’s white population, which has by far the largest median household income, is “nowhere near” being able to afford median priced single-family housing, said Keith Waters of the Center for Regional Analysis at George Mason University.
Efforts to create deeply affordable housing to meet the needs of Arlington’s lowest-earning residents face significant headwinds, according to a recent presentation to the Arlington Planning Commission.
Most current efforts around affordable housing focus on households with incomes of at least 60% of the area median income (AMI) — leaving out a large swath of people earning less.
The Missing Middle lawsuit has finally arrived on the desk of the Virginia Supreme Court.
Plaintiffs in the suit against Arlington County’s contentious zoning change submitted a petition for appeal to the commonwealth’s highest court yesterday (Monday). They’re trying to reverse a recent Virginia Court of Appeals ruling that would create big obstacles for their case, if upheld.
The Goodwill on S. Glebe Road is closing this month to redevelop as a mixed-use affordable housing project.
The donation center, retail store and career center at 10 S. Glebe Road is set to close for about two years beginning on Monday, Oct. 27. Goodwill expects to begin demolition this winter, making way for a six-story building with 128 units of affordable housing, a 3,000-square-foot child care, and a modernized retail and donation center.
A major office building in Ballston may be next in line for conversion to residential use.
Property owner Red Fox DC LLC is expected to come to the County Board later this month, seeking approval to convert a 13-story office building at 4100 Fairfax Drive — above Bronson Bierhall — to 296 residential units.
County Board candidates largely expressed interest in efforts to convert aging office buildings to residential and hotel uses at a recent candidate forum.
“There are huge opportunities,” Board Chair Takis Karantonis said during the Sept. 30 event sponsored by Arlingtonians for Our Sustainable Future.
The median rental cost for an Arlington apartment is down 0.9% year-over-year, according to new data, paralleling a slight nationwide decrease.
The county’s apartments remain among the most expensive in major urban areas outside California.
