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Regional Summaries

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District Of Columbia County, DC

Apartment
The 100,298-unit market-rate, investment grade Washington, D.C., apartment market saw rent gains moderate during the fourth quarter of 2015, while vacancy decreased. The vacancy rate for the District was 6.5% in the fourth quarter, according to Reis, down 40 basis points from the prior quarter and down 30 from one year earlier. Rents finished the fourth quarter with modest gains which in turn beefed up the year’s strong total performance. The asking average rent of $1,633 per month was up 0.5% for the quarter, and the effective average of $1,595 per month was up the same amount. The year-over-year gains are 3.7% and 3.9%, asking and effective. VIEW APARTMENT LISTINGS >
Office
The 105-million-square-foot Washington, D.C., general purpose, multi-tenant office market had good fourth quarter 2015 rent growth, but absorption was negative. Reis reports a 9.2% fourth quarter vacancy rate for office space in Washington, D.C., up 20 basis points from the prior quarter and unchanged over 12 months. The rate was 9.1% in January 2016. The average asking and effective rents increased 0.5% during the fourth quarter, Reis reports, to $52.55 psf and $44.18 psf. This is quite a recovery from no gain for asking rents and a 0.1% gain for effective rents in the third quarter. These rents were both up 1.4% over 12 months. January 2016 data show asking and effective gains of 0.1%. VIEW OFFICE LISTINGS >

Source: Data provided by Reis, inc.

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