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District Of Columbia County, DC

The 108,292-unit market-rate, investment grade Washington, D.C., apartment market saw asking rents increase in the fourth quarter of 2017, but vacancy and rent concessions also increased. New construction and net absorption were active in the fourth quarter. The vacancy rate for the District is 6.6% in the fourth quarter of 2017, according to Reis, up 60 basis points from the prior quarter and up 150 from one year earlier. Rents finished the fourth quarter of 2017 with uneven gains. The average asking rent of $1,820 per month was up 0.7% over the fourth quarter and up 6.2% for the year. The fourth quarter effective rent of $1,732 per month is up 0.1% for the quarter and 2.8% over the year. VIEW APARTMENT LISTINGS >
The 105.5-million-square-foot Washington, D.C., general purpose, multi-tenant office market finished 2017 with positive net absorption and a rather modest rental performance. Reis reports a 9.9% fourth quarter 2017 vacancy rate for general purpose, multi-tenant office space in Washington, D.C., down 10 basis points from the prior quarter and up 10 basis points over 12 months. The average asking and effective rents each rose 0.1% in the fourth quarter of 2017, Reis reports, with the asking and effective rents finishing at $54.36 psf and $45.76 psf. These rates are both up 0.9% for the year. VIEW OFFICE LISTINGS >

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Source: Data provided by Reis, inc.

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