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Is An Apartment Deluge Coming To Washington?

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Finding an affordable apartment is a good location is next to impossible right now in DC but in just a few years the city could find itself with too many apartments just sitting empty or drastically lowering their rents to entice people to move in. A new report out by Delta Associates has counted up the projects expected to deliver in the next three years and found that at least 31,334 new apartment units will be added to the existing stock. This doesn't include all the mini-projects of rowhouses being converted into group houses or unofficial rental units so the number could be even higher. To fill up those thirty thousand units would take at least fifty thousand people, which is an ambitious number even though DC has had huge population growth the past few years.

· Oversaturated: Greater Washington's glut of apartments [WBJ]