As many new luxury apartment communities have emerged and historic communities have become even more desirable for their architectural flare, rent prices across the city have sky-rocketed.
Here are the neighborhoods in Washington D.C. where rent has jumped the most over the past year.
1. Foggy Bottom
Photo courtesy of Rachel Cooper
- Price increase over the past year: 31.3%
- Average rent for one-bedroom in Foggy Bottom: $2,824
- Average rent for one-bedroom in Washington, D.C.: $2,476
Foggy Bottom is one D.C. neighborhood that has retained its historic charm. It has a growing appeal to those looking for a quiet place to live. Located west of the White House, between the National Mall and Georgetown, this neighborhood is one of the most coveted by those working downtown.
It’s home to George Washington University, the John F. Kennedy Center for the Performing Arts, the Watergate Complex and the U.S. Department of State. The area is accessible by Metro and has great access to restaurants and entertainment.
2. West End
- Price increase over the past year: 25.5%
- Average rent for one-bedroom in West End: $3,513
- Average rent for one-bedroom in Washington, D.C.: $2,476
The West End neighborhood is adjacent to Foggy Bottom and likewise, it has a similar appeal and increasing rent prices. Home to upscale condominiums, fine dining restaurants and some of the city’s most luxurious hotels, West End is one of the most expensive neighborhoods in Washington D.C.
The area combines historic charm with modern apartment residences and convenience to everything the city has to offer.
3. Woodley Park
Photo courtesy of Rachel Cooper
- Price increase over the past year: 25.2%
- Average rent for one-bedroom in Woodley Park: $2,344
- Average rent for one-bedroom in Washington, D.C.: $2,476
Straddling Connecticut Avenue and bounded by Rock Creek Park (and the Smithsonian’s National Zoo), Woodley Park residents love their neighborhood for its beauty and historic charm.
There are miles of hiking and biking trails and a commercial strip with plenty of dining options. And a short walk away is the popular Adams Morgan neighborhood, known for a wide range of restaurants, bars, coffee houses, bookstores, art galleries and unique specialty shops.
4. Cleveland Park
Source: Quebec House / rent.com
- Price increase over the past year: 12.4%
- Average rent for one-bedroom in Cleveland Park: $1,981
- Average rent for one-bedroom in Washington, D.C.: $2,476
Cleveland Park is an older, established residential neighborhood with large 18th- and 19th-century Victorian houses, large trees, a small commercial corridor and a branch of the D.C. Public Library.
With its close proximity to the National Zoo, two Metro stations within walking distance and plenty of dining and nightlife options, there’s a high demand for apartments in this area and limited availability.
5. Southwest – Waterfront
Photo courtesy of Rachel Cooper
- Price increase over the past year: 12.1%
- Average rent for one-bedroom in Southwest-Waterfront: $2,587
- Average rent for one-bedroom in Washington, D.C.: $2,476
The Wharf, along the Southwest Waterfront, is the largest new development project in the capital region. Its first phase opened in October 2017 with a mixed-use neighborhood that when finished, will stretch one-mile along the Washington Channel.
D.C.’s newest epicenter of dining and entertainment features panoramic views and a walkable promenade with restaurants, shops, hotels, music venues, a waterfront park and more.
Apartments here are hot and rents will continue to rise as the second phase of the Wharf will add 1.2 million square feet of mixed-use space, including retail, residential, marina and park space expected to open in 2022. Older apartment communities in Southwest will likely continue to get more expensive due to higher demand in the area.
Methodology
We looked at all neighborhoods in Washington D.C. with sufficient available inventory on Apartment Guide and Rent. and compared the average price from March 2018 to March 2019 to find the neighborhoods with the highest percentage increase in one-bedroom apartment prices. The current rent information included in this article is based on March 2019 multifamily rental property inventory on ApartmentGuide.com and Rent. and is used for illustrative purposes only. The data contained herein does not constitute financial advice or a pricing guarantee for any apartment.
