D.C. Rents On the Rise

Looking to rent an apartment in D.C? It’ll cost you. Rents increased by 2.1 percent in D.C. over the course of the year, according to a new Delta Associates report.

There is some good news: rents didn’t increase as much as they did in 2010, when they rose by 7.8 percent. And some experts are predicting that such rent increases will soon stall; the D.C.-area is expected to get 23,000 new apartments before 2014, UrbanTurf reports.

Still, all of this isn’t really that comforting to someone looking for an affordable place to live now, particularly those who can’t afford to buy a place thanks to D.C.’s rising home prices.

Class A rents in the city in the fourth quarter averaged $2,579/month, up from $2,454 in December 2010. For Class B buildings, rents also increased, to $1,863/month from $1,808/month in the fourth quarter of 2010.

Read more at: dc.urbanturf.com