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Petworth has the fastest rising rents in D.C.

D.C. ranks as one of the top 10 most expensive cities for renting in the U.S.

Photo via Elvert Barnes

The fastest growing rents in Washington, D.C. can be found in Petworth with prices 8.8 percent higher compared to this time last year, according to Apartment List. For a one-bedroom in the neighborhood, the median monthly rent is $1,920. For a two-bedroom, the median rent is $2,780.

When breaking down rents by neighborhood, Apartment List reported that the Foggy Bottom-GWU-West End area is the most expensive neighborhood for renters in Washington, D.C. There, the median monthly rent for one-bedrooms goes for $2,780, up 3.6 percent month-over-month and 5.1 percent year-over-year.

According to ABODO, the median rent for a one-bedroom in Washington, D.C. is $2,097, up 0.83 percent month-over-month. For two-bedrooms, the median rent is $2,970, up 3.97 percent month-over-month.

While ABODO reported that rents are going up, Apartment List reported that rents decreased over the past month by 0.1 percent. Despite this, prices are 0.7 percent higher compared to this time last year.

In Apartment List’s report, the median rent for a one-bedroom in D.C. is $2,180, while a two-bedroom costs $3,050.

Image via ABODO

ABODO further reported that the District ranks as the fifth most expensive city for renting in the U.S., above Los Angeles, Oakland, Miami, and Chicago. Topping the list with the most expensive rents is San Francisco, then New York City, and finally San Jose.

Image via Zumper

While ABODO reported that D.C. is the fifth priciest U.S. city for renting, Zumper reported that the District is actually the seventh most expensive U.S. city for renting. According to Zumper, the median price for a one-bedroom in D.C. is $2,040, up 1.5 percent month-over-month and down 7.3 percent year-over-year. For two-bedrooms, the price is $2,900, up 4.1 percent month-over-month and down 3.3 percent year-over-year.

In the D.C. Metro area, Bethesda, Maryland, has the most expensive rents, according to Apartment List. A one-bedroom in Bethesda costs a median $2,180, while a two-bedroom costs $3,070. D.C. proper ranks as the second most expensive city for renters, while Arlington, Virginia, is the third priciest in the area. In Arlington, median rents are $2,030 for a one-bedroom and $2,620 for a two-bedroom.

Across the nation, rents rose from March to April by 0.2 percent up to a median price of $1,005 for a one-bedroom apartment, according to ABODO. Year over year, the rents have dropped by 1.28 percent. Since January, rents have dropped by 1.08 percent.

National Apartment Report: April 2017 [ABODO]

April 2017 Washington, DC Rent Report [Apartment List]

Zumper National Rent Report: April 2017 [Zumper]