Washington, D.C. is the sixth priciest Metro area in the nation with more than half of its renters spending more than half of their income on rent, and apparently that's not enough to stop the city from being the best of the best rental markets on the East Coast. All Property Management, the largest online network of property management companies in the U.S., released a report that ranked Washington, D.C. as the number one best market to own a rental property in Northeastern U.S. When comparing the District with other parts of the nation, the city was ranked as the 20th best in the country. Does Washington, D.C. really beat cities like New York and Boston? According to All Property Management, it does. The quarterly "Rental Ranking Report" attributed the raving reviews to the District's high job growth rate (2.19 percent), moderately low vacancy rate (5.20 percent, about 23 percent less than the national average), and median age of housing inventory (54 days, nine days less than the national average). Despite this, Washington, D.C. still faltered when it came to rental price appreciation (1.94 percent) and property value appreciation (3.67 percent), both of which were lower than the respective national averages. You can read more about All Property Management's findings in the Q2 2015 Rental Ranking Report here.
· Washington, D.C. Q2 2015 Rental Ranking Report [All Property Management]
· D.C. Falls from Fourth to Sixth Priciest Metro Area for Renting [Curbed DC]