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District Of Columbia County, DC

Apartment
The 103,909-unit market-rate, investment grade Washington, D.C., apartment market saw rents falter in the first quarter of 2017, while occupancy was flat. New construction and net absorption were active in the first quarter. The vacancy rate for the District is 5.2% in the first quarter of 2017, according to Reis, unchanged from the prior quarter and unchanged from one year earlier. Rents finished the first quarter of 2017 with flat asking rents and declining effective rents. The asking average rent of $1,698 per month was unchanged over the quarter, and the effective average of $1,660 per month was down 0.6%. The 2016 asking and effective rents rose 1.8% and 2.2%, after some notable fluctuations during the course of the year. VIEW APARTMENT LISTINGS >
Office
The 105-million-square-foot Washington, D.C., general purpose, multi-tenant office market opened 2017 with modest rent growth and improving occupancy. Reis reports a 9.2% first quarter 2017 vacancy rate for office space in Washington, D.C., down 20 basis points from the prior quarter and unchanged over 12 months. The average asking and effective rents each rose 0.2% in the first quarter of 2017, Reis reports, with the asking and effective rents finishing at $53.99 psf and $45.43 psf. Rents started strong in 2016 and finished the year with respective gains of 2.1% asking and 2.3% effective. VIEW OFFICE LISTINGS >

Source: Data provided by Reis, inc.

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