{"id":8558,"date":"2024-12-10T07:26:00","date_gmt":"2024-12-10T07:26:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=8558"},"modified":"2025-03-19T07:33:40","modified_gmt":"2025-03-19T07:33:40","slug":"washington-dc-multifamily-market-report-november-2024","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/washington-dc-multifamily-market-report-november-2024\/","title":{"rendered":"Washington DC Multifamily Market Report \u2013 November 2024"},"content":{"rendered":"\n<p class=\"has-normal-font-size\">Read the latest Yardi Matrix <strong><a href=\"\/blog\/washington-dc-multifamily-market-report\/\">Washington DC Multifamily Market Report<\/a><\/strong><\/p>\n\n\n<hr \/>\n<h2>Positive Rent Movement, Improving Occupancy<\/h2>\n<p>Washington, D.C.\u2019s multifamily market maintained healthy fundamentals entering the fourth quarter, even as rate gains decelerated, according to the latest Yardi Matrix Washington D.C., multifamily market report. The metro\u2019s average advertised asking rent increased by 0.1% on a trailing three-month basis through September, to $2,216, while the U.S. average remained flat, at $1,750, as noted in the <a href=\"\/blog\/national-multifamily-market-report\/\"><strong>national multifamily market report<\/strong><\/a>. As of August, the metro\u2019s occupancy rate in stabilized properties climbed to 95.4%, settling 60 basis points above the national average.<\/p>\n<p><iframe id=\"datawrapper-chart-h2M8O\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Washington DC vs. National Rent Growth \" src=\"https:\/\/datawrapper.dwcdn.net\/h2M8O\/1\/\" height=\"335\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Interactive line chart\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n<p>The metro added 28,600 net jobs in the 12 months ending in July, marking a 0.7% increase. As of August, D.C.\u2019s unemployment rate was 3.8%, below the 4.2% national figure, according to preliminary Bureau of Labor Statistics data. Inova has kicked off construction on two new hospitals: the Inova Alexandria Campus in Alexandria, Va., and the Inova Franconia-Springfield Campus in Springfield, Va. The Alexandria health system will be a key part of the $2 billion West End project, led by Foulger-Pratt Cos., which will transform the former Landmark Mall into a mix of residential, retail and entertainment spaces.<\/p>\n<p><iframe id=\"datawrapper-chart-MJy0A\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Washington DC Employment Share by Sector  \" src=\"https:\/\/datawrapper.dwcdn.net\/MJy0A\/1\/\" height=\"417\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Table\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n<p>By the end of the third quarter, developers had completed 8,310 units and had another almost 31,000 units under construction. The development pipeline also included 220,000 units in the planning and permitting stages. Multifamily transactions totaled $2.2 billion over the first three quarters, with investor activity already very close to 2023\u2019s $2.3 billion total.<\/p>\n<p>Read the full Yardi Matrix Washington DC Multifamily Market Report: <a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/6509-MatrixMultifamilyWashingtonDCReport-November2024\" rel=\"\"><strong>November 2024<\/strong><\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Positive Rent Movement, Improving Occupancy Washington, D.C.\u2019s multifamily market maintained healthy fundamentals entering the fourth quarter, even as rate gains decelerated, according to the latest Yardi Matrix Washington D.C., multifamily market report. The metro\u2019s average advertised asking rent increased by 0.1% on a trailing three-month basis through September, to $2,216, while the U.S. average remained [&hellip;]<\/p>\n","protected":false},"author":436,"featured_media":8186,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[511,470],"class_list":["post-8558","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-multifamily-outlook-2024","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 2024 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Washington, D.C.\u2019s advertised asking rents increased 0.1 percent on a T3 basis through September to $2,216, 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-2024\/\" \/>\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 2024\" \/>\n<meta property=\"og:description\" content=\"Washington, D.C.\u2019s advertised asking rents increased 0.1 percent on a T3 basis through September to $2,216, Yardi Matrix reports.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/washington-dc-multifamily-market-report-november-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-10T07:26:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-03-19T07:33:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/08\/Washington-DC-iStock-2177672354.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=\"Adina Rogoz\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Agota Felhazi\" \/>\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 2024 - 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