{"id":2464,"date":"2021-11-22T13:30:54","date_gmt":"2021-11-22T13:30:54","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=2464"},"modified":"2023-09-21T11:10:21","modified_gmt":"2023-09-21T11:10:21","slug":"washington-dc-multifamily-market-report-fall-2021","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/washington-dc-multifamily-market-report-fall-2021\/","title":{"rendered":"Washington DC Multifamily Market Report &#8211; Fall 2021"},"content":{"rendered":"<h2>Capital Rental Market On Solid Trajectory<\/h2>\n<p>The Washington, D.C., multifamily market is holding steady, with most indicators showing that recovery is underway. September\u2019s rents averaged $1,952, a 1.2% increase on a trailing three-month (T3) basis. While this lagged national growth by 40 basis points, several submarkets\u2014particularly those in sought-after suburban zones in Northern Virginia\u2014exhibited rapid growth following shifts in renter preference away from the metro\u2019s urban core.<\/p>\n<p>Economic growth is underway, with 135,400 jobs added during the year ending in July. While employment has yet to return to pre-pandemic levels, unemployment fell to 4.8% in August, the lowest reported rate in the metro since March 2020. The leisure and hospitality sector made the fastest gains, adding more than 51,000 jobs, and the metro\u2019s economic powerhouses, the government and professional and business services sectors, added another combined 36,400 jobs during the same period.<\/p>\n<p>Nearly 40,000 units were under construction at the end of September, accounting for 7.1% of inventory. While construction starts have slowed considerably in 2021, deliveries for the year are expected to total nearly 13,000 units, among the highest in recent years. Transaction volume totaled $3.8 billion year-to-date through September, a moderate increase compared to last year, with sale prices averaging $258,904 per unit.<\/p>\n<p>Read the full <a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/1366-MatrixMultifamilyWashingtonDCReport-Fall2021\"><strong>Matrix Multifamily Washington DC Report-Fall 2021<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Capital Rental Market On Solid Trajectory The Washington, D.C., multifamily market is holding steady, with most indicators showing that recovery is underway. September\u2019s rents averaged $1,952, a 1.2% increase on a trailing three-month (T3) basis. While this lagged national growth by 40 basis points, several submarkets\u2014particularly those in sought-after suburban zones in Northern Virginia\u2014exhibited rapid [&hellip;]<\/p>\n","protected":false},"author":650,"featured_media":2465,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[221,470],"class_list":["post-2464","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-multifamily-outlook-2021","tag-washington-dc"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Washington DC Multifamily Market Report - Fall 2021 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"The Washington, D.C., multifamily market is holding steady, with most indicators showing that recovery is underway.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/washington-dc-multifamily-market-report-fall-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Washington DC Multifamily Market Report - Fall 2021\" \/>\n<meta property=\"og:description\" content=\"The Washington, D.C., multifamily market is holding steady, with most indicators showing that recovery is underway.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/washington-dc-multifamily-market-report-fall-2021\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2021-11-22T13:30:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-21T11:10:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/11\/Washington-DC-iStock-1346658955.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"lilianam\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jeff Hamann\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Washington DC Multifamily Market Report - Fall 2021 - Yardi Matrix Blog","description":"The Washington, D.C., multifamily market is holding steady, with most indicators showing that recovery is underway.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.yardimatrix.com\/blog\/washington-dc-multifamily-market-report-fall-2021\/","og_locale":"en_US","og_type":"article","og_title":"Washington DC Multifamily Market Report - Fall 2021","og_description":"The Washington, D.C., multifamily market is holding steady, with most indicators showing that recovery is underway.","og_url":"https:\/\/www.yardimatrix.com\/blog\/washington-dc-multifamily-market-report-fall-2021\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2021-11-22T13:30:54+00:00","article_modified_time":"2023-09-21T11:10:21+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/11\/Washington-DC-iStock-1346658955.jpg","type":"image\/jpeg"}],"author":"lilianam","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Jeff Hamann","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.yardimatrix.com\/blog\/washington-dc-multifamily-market-report-fall-2021\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/washington-dc-multifamily-market-report-fall-2021\/"},"author":{"name":"lilianam","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/877efe30f5be34ed3f8b5f334c96a8e0"},"headline":"Washington DC Multifamily Market Report &#8211; 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