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District Of Columbia County, DC

The 103,130-unit market-rate, investment grade Washington, D.C., apartment market saw rents fall during the fourth quarter of 2016, while occupancy was flat. New construction and net absorption were active in the fourth quarter. The vacancy rate for the District is 5.0% in the fourth quarter of 2016, according to Reis, unchanged from the prior quarter and up 20 basis points from one year earlier. Rents finished the fourth quarter of 2016 with decreases in both asking and effective rates. The asking average rent of $1,696 per month was down 0.9% for the quarter, and the effective average of $1,669 per month was also down 0.9%. The 2016 gains were reduced to 1.7% asking and 2.4% effective. VIEW APARTMENT LISTINGS >
The 105-million-square-foot Washington, D.C., general purpose, multi-tenant office market saw another round of reduced rent growth in the fourth quarter of 2016, but net absorption turned positive, and vacancy decreased. Reis reports a 9.6% fourth quarter 2016 vacancy rate for general purpose, multi-tenant office space in Washington, D.C., down 30 basis points from the prior quarter and up 10 basis points over 12 months. The rate was unchanged in January. The average asking and effective rents each edged up a penny in January, Reis reports, as the asking and effective rents of $53.91 psf and $45.37 psf remained steady as 2017 opened. The fourth quarter gains were modest, at 0.2% for both rental categories. The 2016 gains are 2.1% asking and 2.3% effective. VIEW OFFICE LISTINGS >

Source: Data provided by Reis, inc.

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