News
Capitol Hill, Navy Yard Class-A Rents Rise
July 10, 2015
Class-A apartment rents were little changed in Q2 but rents rose in a few sections even as new product continues to enter the market. Delta Associates analyzed the regional apartment market and reported that rents in Capitol Hill/Navy Yard rose 4.2% over the last 12 months. Columbia Heights/Shaw has also seen a nice bump, increasing by 2.1% over the same period, UrbanTurf reports. On a down note, Arlington and NoMa/H Street took a hit over the past 12 months, both dropping around 3%. Despite the rising and falling rents, absorption of units at new buildings remains at an all-time high. Average rents in the region range from a low of $1,997/month in South Arlington to a high of $2,877/month in the Upper Northwest. [UT]
