Rent in D.C. region expected to surge 10 percent
A surge in rent in the D.C. region this year means a larger step toward economic recovery, reports U.S. News & World Report.
- (Photo: Associated Press)
Rent is expected to rise 3.6 percent this year, but in ‘hot areas’ like the Washington region and New York, the increase could exceed 10 percent.
Rent in the D.C. region averages $1,521/month; with an average annual increase of 5.4 percent, according to data from REIS, a provider of real estate performance information.
Don’t fret; having less money for weekend bliss is actually a good sign! The growth, in part, results from college graduates finally able to move out of their parents’ homes, and residents who once had to share apartments are able to find places of their own.
Vacancy rates are once again low, back at the levels they were before the recession, allowing room for higher rates.
READ THE FULL STORY at U.S. News & World Report
RecommendedRecent Facebook Activity
Best of TBD In case you missed it
-
The worst meals in America
Here's a visual look at the eight most delicious, disgusting meals in the country.
TBD Blogs What you need to read
-
@TBD Arts
Kennedy Center to give away tickets to every show of the 2011-2012 season
-
The Market Report
Yes! Organic Market makes first step outside D.C.
-
@TBD On Foot
Metro is still inviting people to a meeting that happened in May
Only On 7
-
ABC7's Interactive 7-day Forecast!
Now you can get customized weather right down to your street! Plan your day and week ahead with ABC7's Interactive 7-day forecast!
No comments