It’s no surprise that the D.C. area is a pricey place to be, but, according to Apartment List’s new report, it’s difficult for almost everybody. In the year 2015, 48.5 percent of Washington, D.C. Metro renters were cost-burdened.
From 2003 to 2015, rents in the D.C. Metro region increased by 19.5 percent. During that time, renter incomes in the area only increased by 12.3 percent.
Across the nation, 50.6 percent of renters were deemed cost-burdened in 2015. Compared to a year earlier, the share of cost-burdened renter households declined by 1.2 percent. Apartment List further reported that in 1960, only 24 percent of renters were burdened, while in 2000, the number of burdened renters was 38 percent.
In comparison to cities like New York City, Boston, and Philadelphia, Washington, D.C. is the most affordable of the four due to the steady construction of new affordable developments.
• Which Metros Have the Most Cost-Burdened Renters? [Apartment List]