Apartment Rents Tick up Throughout the Area
(Washington Examiner) — The cost of renting an apartment in the Washington area climbed 3.6 percent in the last year — greater than the rate of inflation — according to a report from a real estate consulting firm.
Homes lingering on the market and renters with well-paying jobs contributed to people moving into high-end apartments at one of the strongest rates in the nation, the report said. And as demand rises, so, too, do prices. The area’s average rent was about $1,600.