During the month of July, Washington, D.C. rents grew at a rate of more than twice the national average growth. In ApartmentList’s latest monthly rent report, they gave all the details on which neighborhoods are experiencing the fastest year-over-year rent increases and which are currently top of the heap for most expensive.
As a whole, rents in the nation’s capital increased 4.9 percent year-over-year. Across the nation, rents rose 2.1 percent year-over-year.
According to ApartmentList, the median monthly price for a one-bedroom rental in the District is $2,220. For a two-bedroom rental, the median monthly price is $3,140.
The Foggy Bottom-GWU-West End area is currently Washington, D.C.’s most expensive neighborhood for renters. ApartmentList reported that rents increased 3.7 percent year-over-year in the area with a one-bedroom now costing a monthly median of $2,480 and a two-bedroom costing $4,300.
The highest year-over-year rent increases were found in Mount Vernon Square. Compared to last year, the rents increased by 10.4 percent. Currently, a one-bedroom has a monthly median rent of $2,450, while for a two-bedroom, it costs $3,400.
For a more in-depth look at all of the data, check out ApartmentList’s report here.