Living in the most desirable areas of Washington, D.C. can cost a pretty penny, but, according to RENTCafé, D.C. is doing a pretty good job at locating affordable units in “high-opportunity areas,” or areas close to high quality employment, high quality shopping, and upper-income households.
With data from research firm Yardi Matrix, RENTCafé reported that 55 percent of D.C.’s new affordable units under construction are being built in “high-opportunity neighborhoods” as opposed to 45 percent in “low-opportunity neighborhoods.” Despite this, the majority (58 percent) of affordable housing units currently available is located in “low-opportunity neighborhoods,” with only 42 percent of the affordable housing stock in “high-opportunity neighborhoods.”
When it comes to “partially-affordable” units, D.C.’s inventory has grown from 13 percent in 2006 to 28 percent in 2016. RENTCafé further reported that 67 percent of the “partially-affordable buildings” currently under construction in D.C. are located in “top-notch” locations, areas within easy reach of mass transit, jobs, and good schools.
For a deeper glance into RENTCafé’s data and how it looks on a national level, check out the full report here.
• Two-Thirds of Partially-Affordable Housing Is Built in Desirable Areas [RENTCafé]