Right now, in the DC, Maryland and Virginia Metropolitan area, it is hard to find a rental property that is under $1500. Most one bedroom units are renting for $1700 or more. In Alexandria, we just rented a one-bedroom basement apartment for $2000 and it didn’t include any parking. Parking is usually an additional $150 a month in Old Town, Alexandria. A three bedroom, 1500 square feet single family home is usually north of $3200. It’s expensive to rent in the DMV but it still ranks in the 20th most expensive area in the country.
According to Apartment List, the median rent in the DC area is $1,749 for a one-bedroom, and $1,728 for a 2 bedroom. Luxury apartment communities are popping up throughout Arlington County and City of Alexandria to meet the demand. These are fetching over $2000 per unit, because of the great walkability to restaurants shops and the Metro. These luxury complexes offer young professionals amenities that provide amazing creature comforts not only for themselves but for their furry friends. Also, many of these apartment communities offer scenic roof top features that draw professionals from all demographics looking for the best urban living there is.
As for single family homes, this is usually north of $3500 when it is close to the DC metro area. These are usually three bedrooms homes that also include a nice backyard for a pet. Townhomes can be found for just under $3000 but it depends on the size of the property. The newer and bigger townhomes can be just as expensive as a single family home.
However, it is still less than the highest rent districts in other parts of the country. According to the New York Times, and Rent.com, the northeast and California have the highest rental prices in the country.
Check out the top 7 and let us know what you think?
1 – Jersey City, NJ ($5,500)
2 – Boston, MA ($4,878)
3 – Palo Alto, CA ($4,672)
4 – Glendale, CA ($4,472)
5 – Coral Gables, FL ($4,310)
6 – Hoboken, NJ ($4,264)
7 – Redmond, WA ($4,222)
If you are moving to the DC area and need help navigating the rental market, give us a call. We are here to help!
