{"id":5381,"date":"2022-12-27T06:07:07","date_gmt":"2022-12-27T06:07:07","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=5381"},"modified":"2023-09-13T04:42:19","modified_gmt":"2023-09-13T04:42:19","slug":"washington-dc-multifamily-market-report-november-2022","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/washington-dc-multifamily-market-report-november-2022\/","title":{"rendered":"Washington DC Multifamily Market Report \u2013 November 2022"},"content":{"rendered":"<h2>D.C. Multifamily Holds Its Own<\/h2>\n<p>The U.S. capital\u2019s multifamily market <a href=\"https:\/\/www.yardimatrix.com\/blog\/washington-dc-multifamily-market-report-july-2022\/\"><strong>continued to record solid numbers<\/strong><\/a> through the first three quarters of the year. Rent growth on a trailing three-month basis in the metro stood at 0.3%, <strong>10 basis points over the moderating national rate<\/strong>. The overall average rent was $2,103, well outpacing the $1,718 U.S. figure.<\/p>\n<p>The district\u2019s employment market stood at 3.2% year-over-year, with the metro adding 75,000 jobs in the 12 months ending in July. Mirroring many other markets, job growth was driven by the recovering leisure and hospitality sector, which added 32,900 positions through the interval. D.C. local authorities are rolling out the district\u2019s <strong>first public-private partnership<\/strong> through its DC Smart Street Lighting initiative. The $309 million project will replace existing public lighting with energy-efficient LED lights, as ongoing challenges generate the need for new technology in infrastructure.<\/p>\n<p><strong>Development activity in the district was strong<\/strong>, with 34,014 units underway and a total of 10,000 units added year-to-date through September. Despite elevated construction throughout the decade, the average occupancy rate in stabilized properties remained high, even rising 20 basis points, at 95.6% as of August. In investment, multifamily sales had another strong year, with $4.2 billion recorded through the same period. With D.C. being one of the largest multifamily markets in the nation, Yardi Matrix expects rent growth to close the year at around 7.3%.<\/p>\n<p>Read the full <a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/3083-MatrixMultifamilyWashingtonDCReport-November2022\"><strong>Matrix Multifamily Washington DC Report-November 2022<\/strong><\/a><\/p>\n\n\n<div style=\"height:45px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>D.C. Multifamily Holds Its Own The U.S. capital\u2019s multifamily market continued to record solid numbers through the first three quarters of the year. Rent growth on a trailing three-month basis in the metro stood at 0.3%, 10 basis points over the moderating national rate. The overall average rent was $2,103, well outpacing the $1,718 U.S. [&hellip;]<\/p>\n","protected":false},"author":753,"featured_media":5382,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[444,470],"class_list":["post-5381","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-multifamily-outlook-2022","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 \u2013 November 2022 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Rent growth slowed to 0.3% on a T3 basis through September, 10 basis points higher than the national rent growth rate, Yardi Matrix reports.\" \/>\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-november-2022\/\" \/>\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 \u2013 November 2022\" \/>\n<meta property=\"og:description\" content=\"Rent growth slowed to 0.3% on a T3 basis through September, 10 basis points higher than the national rent growth rate, Yardi Matrix reports.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/washington-dc-multifamily-market-report-november-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-27T06:07:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-13T04:42:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/12\/Washington-iStock-1437123916.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=\"Razvan Cimpean\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Alex Girda\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Washington DC Multifamily Market Report \u2013 November 2022 - Yardi Matrix Blog","description":"Rent growth slowed to 0.3% on a T3 basis through September, 10 basis points higher than the national rent growth rate, Yardi Matrix reports.","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-november-2022\/","og_locale":"en_US","og_type":"article","og_title":"Washington DC Multifamily Market Report \u2013 November 2022","og_description":"Rent growth slowed to 0.3% on a T3 basis through September, 10 basis points higher than the national rent growth rate, Yardi Matrix reports.","og_url":"https:\/\/www.yardimatrix.com\/blog\/washington-dc-multifamily-market-report-november-2022\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2022-12-27T06:07:07+00:00","article_modified_time":"2023-09-13T04:42:19+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/12\/Washington-iStock-1437123916.jpg","type":"image\/jpeg"}],"author":"Razvan Cimpean","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Alex Girda","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.yardimatrix.com\/blog\/washington-dc-multifamily-market-report-november-2022\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/washington-dc-multifamily-market-report-november-2022\/"},"author":{"name":"Razvan Cimpean","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/694c0c0a53e89aa8de1e53ff8201b3b6"},"headline":"Washington DC Multifamily Market Report \u2013 November 2022","datePublished":"2022-12-27T06:07:07+00:00","dateModified":"2023-09-13T04:42:19+00:00","mainEntityOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/washington-dc-multifamily-market-report-november-2022\/"},"wordCount":234,"commentCount":0,"publisher":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/washington-dc-multifamily-market-report-november-2022\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/12\/Washington-iStock-1437123916.jpg","keywords":["Multifamily Outlook 2022","Washington DC"],"articleSection":["Metro Reports","Multifamily Market","Real Estate Trends"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.yardimatrix.com\/blog\/washington-dc-multifamily-market-report-november-2022\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.yardimatrix.com\/blog\/washington-dc-multifamily-market-report-november-2022\/","url":"https:\/\/www.yardimatrix.com\/blog\/washington-dc-multifamily-market-report-november-2022\/","name":"Washington DC Multifamily Market Report \u2013 November 2022 - Yardi Matrix Blog","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/washington-dc-multifamily-market-report-november-2022\/#primaryimage"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/washington-dc-multifamily-market-report-november-2022\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/12\/Washington-iStock-1437123916.jpg","datePublished":"2022-12-27T06:07:07+00:00","dateModified":"2023-09-13T04:42:19+00:00","description":"Rent growth slowed to 0.3% on a T3 basis through September, 10 basis points higher than the national rent growth rate, Yardi Matrix reports.","breadcrumb":{"@id":"https:\/\/www.yardimatrix.com\/blog\/washington-dc-multifamily-market-report-november-2022\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.yardimatrix.com\/blog\/washington-dc-multifamily-market-report-november-2022\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/washington-dc-multifamily-market-report-november-2022\/#primaryimage","url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/12\/Washington-iStock-1437123916.jpg","contentUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/12\/Washington-iStock-1437123916.jpg","width":1200,"height":628,"caption":"Image by f11photo\/iStockphoto.com"},{"@type":"BreadcrumbList","@id":"https:\/\/www.yardimatrix.com\/blog\/washington-dc-multifamily-market-report-november-2022\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.yardimatrix.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Washington DC Multifamily Market Report \u2013 November 2022"}]},{"@type":"WebSite","@id":"https:\/\/www.yardimatrix.com\/blog\/#website","url":"https:\/\/www.yardimatrix.com\/blog\/","name":"Yardi Matrix Blog","description":"Stay current with the latest commercial real estate market trends and forecasts","publisher":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.yardimatrix.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.yardimatrix.com\/blog\/#organization","name":"Yardi Matrix","url":"https:\/\/www.yardimatrix.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/11\/Inline_Matrix_Color_es-1.jpg","contentUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/11\/Inline_Matrix_Color_es-1.jpg","width":200,"height":39,"caption":"Yardi Matrix"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.linkedin.com\/company\/yardi-matrix\/","https:\/\/www.youtube.com\/channel\/UCRHgAZL4YoyeNEdiRN5uj0g"]},{"@type":"Person","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/694c0c0a53e89aa8de1e53ff8201b3b6","name":"Razvan Cimpean","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/a2a826ff843b4f800ff5528644dc28dc336a20ec16082b6108ff5a5def333e6d?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a2a826ff843b4f800ff5528644dc28dc336a20ec16082b6108ff5a5def333e6d?s=96&d=mm&r=g","caption":"Razvan Cimpean"},"url":""}]}},"jetpack_featured_media_url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/12\/Washington-iStock-1437123916.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/5381","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/users\/753"}],"replies":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/comments?post=5381"}],"version-history":[{"count":2,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/5381\/revisions"}],"predecessor-version":[{"id":5385,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/5381\/revisions\/5385"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media\/5382"}],"wp:attachment":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media?parent=5381"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/categories?post=5381"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/tags?post=5381"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}