Rents in the DC housing market rose after federal business road
DC rent decreases
February after three months decreased, the DC recorded a turn with annual growth for the apartment market. In January, the average rental decreased by 2.3% after decreasing 4.2% and 3.4% and 3.4% in November and November. According to RedFin, this trend was part of a wider decline in 2024.
“Asking the rentals, in nine and wide Washington DC Metro area in the last 12 months,” said REDF's report.
Despite the latest drops, the increase in the last month lowered the average rent less than $ 2325 – $ 2,463 in July 2023. However, the average rental of the DC is above the national media of $ 1599.
Although the district saw a modest price increase, the larger DC subway area has received more sharply rent. Redfin data increased by 9.2% in February. In January (+ 8.5%), December (+ 8.2%) and November, closely following (+ 8.2%) (+ 9%) closely.
Economic pressures, housing supply issues
Like rental prices and office-office mandates come to return the DC business market. However, RedFin chief economist Şeharyyar Bokhari said he could be very early to coordinate with renting rents with employment changes.
“The district is always in the transition, especially when the office receives the office, both the government and private sector together with people who are inside and outside the city.” He said the bokhari. “If the employees who wanted to be in the pedigree and wanted to approach where they work, and now the employees will be in the office, rents will be affected.”
Slowing down the construction of the apartment also increases renters. Bokhari noted that in 2024, only two apartment units for DC 1,000 people were approved. For reference, it falls below four per 1000 in 2023.
Tariffs, construction costs can be renteds
Analysts believe that higher construction costs can further increase the tenants. Expenses for the cost of expenses for the construction materials indicate that the tariffs increase from 4% to 6% to 6% to increase the two-digit interest.
With the new Trump management, it can be a reality, pushing the market-changing policies. Imports from China will now be exposed to 20% tariff and other goods are exposed to 25% tariffs. Both countries bordering US Softwood Lumber and gypsum supplies are two main materials for internal construction.
