{"id":600,"date":"2021-02-18T15:08:51","date_gmt":"2021-02-18T15:08:51","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=600"},"modified":"2023-03-10T08:13:25","modified_gmt":"2023-03-10T08:13:25","slug":"washington-dc-real-estate-market-trends-winter-2021","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/washington-dc-real-estate-market-trends-winter-2021\/","title":{"rendered":"Washington DC Real Estate Market Trends &#8211; Winter 2021"},"content":{"rendered":"<h2>Development Endures<\/h2>\n<p>Washington, D.C.\u2019s multifamily market continues to benefit from the presence of the federal government and related industries, which helped prop up fundamentals in 2020 to a certain extent, at least when compared to other large coastal markets. Nonetheless, rents were down 0.7% on a trailing three-month basis as of December, to $1,758, above the $1,462 national average. Meanwhile, the metro\u2019s occupancy rate in stabilized communities declined 100 basis points in the 12 months ending in November 2020, to 94.2%, the metro\u2019s lowest level over the past decade.<\/p>\n<p>The metro\u2019s employment market shrank by 181,100 positions in the 12 months ending in November 2020\u2014representing a 6.1% drop\u2014with most sectors recording losses, ranging from 23.4% for leisure and hospitality to 2.0% for the professional and business services sector. Even so, metro D.C.\u2019s economy bounced back relatively quickly, from a 10.0% unemployment rate in April 2020 to nearly half of that in just seven months.<\/p>\n<p>A total of 9,582 units reached completion in 2020, marking an 18.1% drop from the previous year and the lowest level in almost a decade. However, developers were working on more than 42,000 apartments at the end of the year, placing Washington, D.C., among the country\u2019s top-performing markets for construction activity.<\/p>\n<p>Read the full <a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/1205-MatrixMultifamilyWashingtonDCReport-Winter2021?utm_source=Matrix-Blog&amp;utm_medium=Social\"><strong>Matrix Multifamily Washington DC Report-Winter 2021<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Development Endures Washington, D.C.\u2019s multifamily market continues to benefit from the presence of the federal government and related industries, which helped prop up fundamentals in 2020 to a certain extent, at least when compared to other large coastal markets. Nonetheless, rents were down 0.7% on a trailing three-month basis as of December, to $1,758, above [&hellip;]<\/p>\n","protected":false},"author":650,"featured_media":601,"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-600","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 Real Estate Market Trends - Winter 2021 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Washington, D.C.\u2019s multifamily market continues to benefit from the presence of the federal government and related industries, which helped prop up fundamentals in 2020.\" \/>\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-real-estate-market-trends-winter-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Washington DC Real Estate Market Trends - Winter 2021\" \/>\n<meta property=\"og:description\" content=\"Washington, D.C.\u2019s multifamily market continues to benefit from the presence of the federal government and related industries, which helped prop up fundamentals in 2020.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/washington-dc-real-estate-market-trends-winter-2021\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-18T15:08:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-10T08:13:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/03\/Washington-DC-iStock-989110954.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=\"Razvan Cimpean\" \/>\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 Real Estate Market Trends - Winter 2021 - Yardi Matrix Blog","description":"Washington, D.C.\u2019s multifamily market continues to benefit from the presence of the federal government and related industries, which helped prop up fundamentals in 2020.","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-real-estate-market-trends-winter-2021\/","og_locale":"en_US","og_type":"article","og_title":"Washington DC Real Estate Market Trends - Winter 2021","og_description":"Washington, D.C.\u2019s multifamily market continues to benefit from the presence of the federal government and related industries, which helped prop up fundamentals in 2020.","og_url":"https:\/\/www.yardimatrix.com\/blog\/washington-dc-real-estate-market-trends-winter-2021\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2021-02-18T15:08:51+00:00","article_modified_time":"2023-03-10T08:13:25+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/03\/Washington-DC-iStock-989110954.jpg","type":"image\/jpeg"}],"author":"lilianam","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Razvan Cimpean","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.yardimatrix.com\/blog\/washington-dc-real-estate-market-trends-winter-2021\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/washington-dc-real-estate-market-trends-winter-2021\/"},"author":{"name":"lilianam","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/877efe30f5be34ed3f8b5f334c96a8e0"},"headline":"Washington DC Real Estate Market Trends &#8211; 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