Over two-thirds of one-bedrooms near Metro stations see higher rents in 2019: report

Rents continue to rise in the D.C. area, particularly near public transit, according to a new study. Areawide, the median rent for a one-bedroom apartment rose 2.4 percent over the past year, says listings company RentHop. Rent growth was common near Metro stations: the median rent near 65 Metrorail stops out of 91 total stops, or about 71 percent, jumped.

That was up from rent growth around 50 stops in 2018. This year, rental homes near five Metro stops saw no rent growth, while those near 19 stops saw rent drops (down from 35 stops last year). The findings are based on median rent prices for one-bedroom apartments generally located within 0.62 miles of a Metro station, from March to June in 2018 and 2019.

“The sprawling Metrorail transit system provides a backbone for the metropolitan area while stimulating business and real estate development,” RentHop writes in a blog post published earlier this week. “It is no wonder Metro proximity is one of the first things renters consider when looking for an apartment. It is almost always the case that the closer you are to a metro stop, the more expensive your apartment is.” RentHop says 2019 rent drops were softer than 2018’s, but that median one-bedroom rents remain above $2,400 a month near many stops.

Homes near the following Metro stations saw some of the highest rent hikes, per RentHop:

“Farragut North – Red Line – $2,550, year-over-year increase of 10.9 percent

Benning Rd – Blue and Silver Lines – $1,377, year-over-year increase of 8.4 percent

Southern Ave – Green Line – $1,227, year-over-year increase of 7.9 percent

Arlington Cemetery – Blue Line – $2,000, year-over-year increase of 7.8 percent

Dupont Circle – Red Line – $2,285, year-over-year increase of 7.5 percent

Minnesota Ave – Orange Line – $1,175, year-over-year increase of 6.8 percent”

You can dive into the rent data behind the company’s report in the interactive map below.