If I had a dime for every time I had to tell you guys how expensive it is to live in D.C., well... it wouldn't be such a struggle to live here!
Yes, we all know D.C. rents are expensive -- and don't even get me started on buying! Nationally, the median rent for a one bedroom apartment is $1,234.23, and yet here in D.C. we are shelling out an average of $2,180 for a one bedroom and $3,050 for two bedrooms. Ouch! That hurts. The good news though (if you can really call it that) is that even though rents are slightly higher now than they were last year, we have seen a slight decrease overall in rents in the past month.
But, while looking into a renting report from Apartment List recently, I came across a few surprising stats about renting in specific neighborhoods that I thought I would share. So here we go in today's version of did you know...
- Foggy Bottom/West End is the most expensive neighborhood for renters in the District; a two bedroom there runs a median rent of $4,620, and one bedrooms go for $2,780
- Rents in Foggy Bottom have grown by 3.6% in the past month and increased by 5.1% over last year
- Brookland is the cheapest neighborhood for renting in D.C. with two bedroom apartments averaging $2,020
- Petworth shows the fastest-growing rents in D.C., with prices 8.8% higher than last year. Median rent prices in Petworth are at $2,780 for two bedrooms and $1,920 for one bedroom apartments
- In the DMV region as a whole, D.C. is not the most expensive place to rent
- Bethesda is the most expensive city for renters in the DMV region; a two-bedroom there rents for $3,070 -- that's actually a 0.6% decrease from last year
- Arlington and Alexandria are significantly cheaper with the median one bedroom apartment renting for $2,030 and $1,700 respectively
- In Maryland, Rockville and Silver Spring are the places to rent with the median one bedroom apartment renting for $1,700 and $1,480 respectively
Hey, it could be worse! D.C. ranks as the fifth most expensive city for renting in the U.S., meaning that our friends in San Francisco, New York City, San Jose and Boston feel our pain.
So happy apartment shopping, friends. We're going to go cry into a bowl of ice cream now!