It shouldn’t be any surprise that renting in Washington, D.C. can be difficult. While rents have increased, incomes have only slowly grown, never able to keep up.
In their latest report, Apartment List stated that between 1980 and 2014 Washington, D.C. saw a 33 percent increase in median renter income and an 86 percent rise in median rent.
By analyzing Census data from 1960 to 2014, Apartment List found that inflation-adjusted rents jumped 64 percent, while real household incomes increased 18 percent. Across the nation, the number of cost-burdened renters who spend more than 30 percent of their income on rent rose from 24 percent in 1960 to 49 percent in 2014.
For Apartment List’s report, go here, or check out other real estate market reports focused on Washington, D.C. here.
• How Have Rents Changed Since 1960? [Apartment List]