Slowing Job Growth, Sales Volume in DC
By the end of the third quarter, Washington, D.C.’s multifamily market fundamentals remained mixed, according to the latest Yardi Matrix Washington D.C., multifamily market report. Average advertised asking rents were down 0.3%, on a trailing three-month basis through September, to $2,227 and 20 basis points below the U.S. average, as noted in the national multifamily market report. Yardi Matrix expects an increase for the rest of the year, with the forecast at 2.3% for 2025.
Washington, D.C., employment rose 0.5% through July, 30 basis points below the national average. Education and health services led growth, adding 16,600 jobs to the workforce and marking a 3.3% yearly expansion. Still, the metro recorded a net loss of 4,400 jobs year-over-year. The area’s unemployment rate was 5.6% as of August, marking a 50-basis-point increase month-over-month, according to preliminary data from the Bureau of Labor Statistics. A $3.7 billion project will be taking shape at the former RFK Stadium site and will feature a 65,000- seat venue, as well as retail, riverside park space and some 6,000 affordable units. The Washington Commanders received final approval from the D.C. Council.
Developers brought 12,457 units online this year through September, accounting for 1.9% of existing stock and 30 basis points below the 2.2% national figure. Transaction volume reached $1.9 billion, with 32 assets changing hands.
Read the full Yardi Matrix Washington DC Multifamily Market Report: November 2025
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