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Rent Appreciation Expected to Slow Down in Washington, D.C.

Maybe you were excited to know that Washington, D.C. lowered from having the fourth most expensive rents in the U.S. to the sixth (before it rose to fifth), but maybe it's time to lower that enthusiasm a smidge. Washington, D.C. rents are still expected to continue to rise, though at a slower pace, according to Zillow's latest press release. For this upcoming year, Zillow predicts the rents in Washington, D.C. to rise by 0.5 percent, from a median $2,107 to $2,118. The national median rent is also expected to slightly rise, from $1,381 in December 2015 to $1,396 in December 2016 (1.1 percent growth). While Zillow Chief Economist Dr. Svenja Gudell expects this slow down in rental appreciation to provide some relief to renters, it's unlikely to provide too much relief when one-quarter of D.C. renters spend more than half of their income on rent. If interested in seeing what to expect from other Metro areas around the nation, you can sort through all of the data here.
· Zillow: Rents to Flatten in 2016 [Zillow]
· All coverage on rent in D.C. [Curbed DC]