DC Now Cheaper to Rent Apartment in Than Oakland, San Jose
While DC remains one of the priciest metro areas for apartment rents, several cities have jumped ahead of the District to push it further down the top 10 list.
Real estate research website Zumper has released its national rent report for November 2015, which finds that DC is now the sixth-most expensive metro area for apartment rents. The District has dropped from its fourth place position from earlier this year after being surpassed by Oakland and San Jose, Curbed reports. City-wide median rents for DC come in at $2,080 per month, ranging from a low of $1,300 in Woodbridge-Fort Lincoln to a high of $2,600 per month in Foggy Bottom.
Throughout DC, 25% of renters are spending more than half of their income on rent, pointing to a need for more affordable housing. Earlier this year, Mayor Bowser outlined the steps that DC will be taking to help close the affordability gap, including setting aside $100M a year for affordable housing starting in fiscal year 2016. [Curbed]
