Washington D.C. rent rises following mass federal layoffs, and Virginia sees rent price surge

Washington, D.C. After months of decline, median rent in the District of Columbia increased 2.7% year on year in February to $2,325, according to a new report from Redfin

This follows a period of fluctuating rents as apartment construction increased and demand shifted throughout the region.

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Rents in the District peaked at $2,463 in July 2023, but have since remained stable between $2,265 and $2,350. Meanwhile, the Washington, D.C. metro area experienced a significant 9.2% year-over-year rent increase.

Arlington, Virginia, led the region with a 12.1% increase, reaching $2,591, while Silver Spring, Maryland, experienced the steepest drop, falling 7.3% to $1,695. Experts say the impact of federal job cuts is unknown, but it could influence future rental trends.

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