Major cities across the United States continue to witness increasing rental prices. Even after the post-pandemic boom that areas like New York City witnessed last summer, rents are still on the rise. Renters in Boston, Miami, and Washington D.C. also face higher rental costs this year.
The DC Metrorail transit system accommodates a majority of renters on their commutes, and many renters will pay more in rent to live closer to work. Each year, RentHop reports shifts in rental prices along major DC subway stops. This year, we discovered that:
- The median rent for a two-bedroom increased 3.12% to $2,594.
- Rental prices increased across most stops city-wide, increasing year over year at 71 subway stops.
- Prices decreased at 27 subway stations; that’s 26 more drops than last year.
- The median rental price for two-bedroom apartments increased by at least 7% at major subway stops like Union Station ($3,500, YoY +9.39%) and Dupont Circle ($3,750, YoY +7.14%).
- Large rental buildings, like 1200 N Herndon Street, by developer EQR increased rental prices near stations like Clarendon and Virginia Square – GMU by over 10%.
DC Metro Median Rent Map, with YoY Price Fluctuations
To calculate the median rent for the map above, we analyzed RentHop’s rental data for unfurnished two-bedroom apartments from May 1 through July 31, 2022, & 2023, and WMATA GIS data for Metrorail stops from DC.gov.
To get accurate prices near the Metro stops, we looked first at non-duplicated listings within 0.5 miles (800 meters) of a metro stop and calculated the median if there were 20 unique data points. If not, the radius from the stop was increased, and the data were resampled to ensure enough unique listings were used when calculating the median.
Rents Remain High for DC Renters
Renters continue to face an expensive rental market with increasing prices along most subway stops. Two-bedroom apartments rose by 3.12% yearly, and the median rental price is now $2,594. While rents are higher, they are increasing slower than the post-pandemic rush we reported in our 2022 study. Of the city’s 98 subway stops, 71 witnessed prices increase this year. Fewer stops witnessed price increases than last year, where 89 of the 91 subway stations increased in price.
Some areas became more affordable for renters this year. This year, two-bedroom rental prices decreased across 27 stations, which is 185% more than last year. Some of those stations, like Smithsonian, reside near the National Mall. Every station witnessed rental prices fluctuate.
The Following Stops Witnessed the Largest Rental Increases for Two-Bedroom Apartments
- Clarendon (Orange, Silver) – $3,419, YoY +12.08%
- Virginia Square – GMU (Orange, Silver) – $3,350, YoY +11.67%
- Union Station (Red) – $3,500, YoY +9.39%
- Court House (Orange, Silver) – $3,400, YoY +8.94%
- Tysons (Silver) – $2,500, YoY +8.70%
- Morgan Boulevard (Blue, Orange, Silver) – $1,995, YoY +7.84%
- Spring Hill (Silver) – $2,750, YoY +7.63%
- Crystal City (Blue, Yellow) – $3,027, YoY +7.55%
- Woodley Park-Zoo/Adams Morgan (Red) – $3,500, YoY +7.53%
- Van Ness – UDC (Red) – $3,333, YoY +7.52%
New Developments Drive Up Rental Prices
The two subway stops with the sharpest increase in rental prices, Clarendon and Virginia Square-GMU, now host apartment complexes with above-average rental prices. Developers Equity Residential opened luxury apartment complexes that increased rents in the area.
With two-bedroom apartments at 901 N. Nelson Street now asking up to $3,735, the median rental price increased. A similar situation occurred with EQR’s new development at 1200 N Herndon St., driving up rental prices for the entire area.
Optimize Your Savings by Increasing Your Commute
Would you ride an extra subway stop to save over $1,000? Our team observed the most significant price differences between stops across the city to find where renters can score the best deal. Stark price decreases can be due to traveling across the water and neighborhoods, a price increase at one stop compared to a decrease at the neighboring stop, or a combination of factors.
Consider the Following Options to Maximize your Savings
- Save $1,403 by moving to Anacostia ($1,700) from Navy Yard – Ballpark ($3,103) – Green Line.
- Save $1,002 by moving from NoMa – Gallaudet U ($3,325) to Rhode Island Ave – Brentwood ($2,323) – Red Line.
- Save $1,000 by moving from Stadium – Armory ($2,900) to Minnesota Ave ($1,900) – Orange Line.