Washington, District of Columbia Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Washington, District of Columbia rental market.
Washington, District of Columbia
Average Apartment Rent
$2,443
Y-o-Y Change in Average
Apartment Rent
0.9%
As of July 2024
Compared to a year ago, Washington, District of Columbia apartments have recorded a 0.9% rent increase.
Washington, District of Columbia |Average apartment rent trend
Washington, District of Columbia| Average apartment rent
Washington, District of Columbia | Apartment rent ranges
At 66.77%, apartments priced Over $2,000 represent the bulk of Washington, District of Columbia rentals, while condos priced $700 - $1000 hold the lowest share of the market – 1.18%.
Washington, District of Columbia | Housing tenure**
Renters take up 59% of Washington, District of Columbia real estate, occupying a total of 184,920 units, while homeowners live in 130,865 properties.
Median number of rooms of renter-occupied housing units**
3.2
Renter median household income**
$70,667
Average household size of renter-occupied housing units**
1.9
Rental vacancy rate**
7.2%
Washington, District of Columbia | Renter-occupied housing units by no. of bedrooms**
There are 79,967 rentals in Washington, District of Columbia with 1 bed making up the highest share of the market, at 43%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 2,211 units. Overall, the median number of rooms in Washington, District of Columbia homes for rent is 3.2.
Washington, District of Columbia |Renter-occupied units by age of householder**
Most condos for rent in Washington, District of Columbia are occupied by residents in the 25 - 34 years age group (36%), followed by those in the 35 - 44 years age group (19%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 1%.
Washington, District of Columbia | Renter-occupied housing units by family type**
Washington, District of Columbia | Renter-occupied housing units by the presence of own children**
A total of 58,911 apartments for rent in Washington, District of Columbia, or 32% of all rentals are family households. Additionally, 17% of rental homes include children under the age of 18 – that’s 31,010 units. All in all, the median size of a renter-occupied household in Washington, District of Columbia is 1.9.
Washington, District of Columbia | Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 57% of the rental market. In contrast, residents with less than a high school degree reside in 9% of the homes for rent in Washington, District of Columbia.
Washington, District of Columbia | Renter-occupied units by year structure built**
The highest share of Washington, District of Columbia apartment rentals, namely 21% or 38,856 units, were Built 1939 or earlier, followed by those Built 2010 - 2019 (16%, 29,381 units), and the ones Built 1950 - 1959 (13%, 23,999 units).
Washington, District of Columbia | Renter-occupied units by year householder moved in**
Median year renter moved into unit2017
Most Washington, District of Columbia renters (40%) moved in 2010 to 2017, while only 3% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Washington, District of Columbia condos for rent is 2017.
Washington, District of Columbia | Renter-occupied housing units by vehicles available**
When it comes to transportation options, 50% of Washington, District of Columbia renters have No vehicle available per household, 41% of them have 1 vehicle available, and 8% have 2 vehicles available.
Washington, District of Columbia | Means of transportation to work of householders living in renter-occupied housing units**
Washington, District of Columbia |Geographical mobility in the past year for householders living in renter-occupied housing units**
Washington, District of Columbia | Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Washington, District of Columbia apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates