Intelligence

The 113,538-unit market-rate, investment grade Washington, D.C., apartment market continued to expand rapidly in the second quarter of 2019, as another wave of new units hit the market. The District's vacancy rate was 6.0% in the second quarter according to Reis, up 40 basis points from the prior quarter but down 10 from a year earlier. During the second quarter the average asking rent increased 1.7% to $1,990 per month, and the average effective rent rose 1.6% to $1,879 per month. The year-over-year gains are 6.2% and 5.7%, respectively. VIEW APARTMENT LISTINGS >

Vacancy has been edging up for two decades in the 108.5-million-square-foot Washington, D.C., general purpose, multi-tenant office market, but it is still the fifth-lowest among the top Reis markets. The second quarter 2019 vacancy rate is 12.0%, according to Reis, up 30 basis points for the period and up 120 basis points from a year earlier. During the second quarter of 2019 average rents increased just 0.1% by both measures. Compared with a year earlier the asking average is up 2.1% to $56.41 psf, and the average effective rent rose 2.2% to $47.46 psf. VIEW OFFICE LISTINGS >