One-Bedroom Rents Soared Along Major DC Metro Stops

Originally posted on August 15, 2022 9:00 am
Updated on August 15, 2022 9:32 am

Renters in major cities across the U.S. have experienced significant rent hikes as the country recovered from the COVID-19 pandemic. In New York, rents have rebounded and exceeded the pre-pandemic level. Similar things are happening in Miami and Boston, and Washington D.C. is no exception.

Despite lower ridership, the DC Metrorail transit system remains one of the largest and most important public transit systems in the country. It is no wonder proximity to the closest metro stop is one of the first things renters consider when looking for an apartment. Every year, the data science team at RentHop explores the median rent along the DC metro stops. This year, we discovered that:

  • In the DC metro area, the median one-bedroom rent reached $1,854, 9.03% higher than a year ago.
  • Median one-bedroom rent increased over 10% along major metro stops, including McPherson Sq ($2,375, YoY +14.5%) and Pentagon ($2,245, +16.6%).
  • The rent increases can be seen across all train lines and stops. In fact, 2 stops saw no change in rent, and 89 stops experienced positive year-over-year changes, a stark difference from a year ago.
  • Median one-bedroom rent rose 9% at Silver Spring (Red) to $1,800, mostly driven up by major rental buildings in the area, including 1155 Ripley Street, a UDR building where rents for one-bedroom units went up 9.7% year-over-year.

 

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 one-bedroom apartments from May 1 through July 31, 2021 & 2022, as well as 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.

 

DC Renters Grapple with Housing Affordability 

Housing affordability has worsened in the past year in DC. Using rental data from May 1 through July 31, we found median one-bedroom rent around the DC metro area went up 9.03% year-over-year. Of all 91 stops, 89 stops experienced rent growth, compared to 36 in our 2021 study. Two stops experienced no change in rental rates.

These stops saw some of the largest rent hikes on one-bedroom apartments

  • Foggy Bottom GWU (Blue, Orange, Silver) – $2,375, YoY +18.75%
  • Congress Heights (Green) – $1,400, +17.89%
  • Pentagon City (Blue, Yellow) – $2,248, +16.84%
  • Farragut West (Blue, Orange, Silver) – $2,471, +16.69%
  • Pentagon (Blue, Yellow) – $2,245, +16.63%
  • Branch Ave (Green) – $2,050, +16.15%
  • NoMa – Gallaudet U (Red) – $2,258, +15.77%
  • Cleveland Park (Red) – $2,140, +15.21%
  • Navy Yard – Ballpark (Green) – $2,099, +15.01%
  • Farragut North (Red) – $2,350, +14.63%

 

Ride the Metro to Savings

Would you travel an extra stop to save a couple hundred dollars? How about for close to $1,000?  RentHop dug deep into the data for the best single-stop rent savings and found some very useful results.

The list below represents the largest price drops between a single stop. Sometimes this is because the stops are in different neighborhoods, rents fell at one stop, prices soared at the other, or all of the above. It’s also possible that apartments near a particular stop aren’t apples-to-apples, with the apartments just one stop away. We may have left some out due to miles-long stretches between stops.
 

Turn your commute into extra cash at these stops

 

  • Save $950 by moving to Minnesota Ave ($1,200) from Stadium Armory ($2,150) – Orange Line
  • Save $755 by leaving Navy Yard – Ballpark ($2,099) for Anacostia ($1,344) – Green Line
  • Save $575 between Foggy Bottom GWU ($2,375) and Rosslyn ($1,800) – Blue, Orange, Silver Lines

 

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