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District Of Columbia County, DC

The 106,907-unit market-rate, investment grade Washington, D.C., apartment market saw rents continue to climb in the third quarter of 2017, while occupancy fell slightly. New construction and net absorption were active in the third quarter. The vacancy rate for the District is 5.9% in the third quarter of 2017, according to Reis, down 10 basis points from the prior quarter and up 80 from one year earlier. Rents finished the third quarter of 2017, continuing the solid gains of the second quarter. The asking average rent of $1,792 per month was up 2.4% over the third quarter and up 4.2% for the year. The third quarter effective rent of $1,726 per month is up 2.0% for the quarter and 2.0% over the year. VIEW APARTMENT LISTINGS >
The 105-million-square-foot Washington, D.C., general purpose, multi-tenant office market had modest rent growth and a slight dip in occupancy in the third quarter of 2017. Reis reports a 9.3% third quarter vacancy rate for office space in D.C., up 10 basis points from the prior quarter and down 30 basis points over 12 months. Monthly data show a slight increase in October. The average asking and effective rents each rose 0.1% in the third quarter of 2017, Reis reports, with the asking and effective rents finishing at $54.19 psf and $45.61 psf. These rates are up 0.7% and 0.8%, respectively, for the year. October data from Reis show each rate up a penny. VIEW OFFICE LISTINGS >

Source: Data provided by Reis, inc.

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