How Much Does a New Apartment Cost in DC?
The Bureau of Labor Statistics has just reported that DC is the most expensive place to live in the US. And that's no surprise to anyone who's cut a rent check recently. We put on our research hats (with some help from Apartments.com) and checked out how pricey things are in some of the city's hotspots.
The neighborhood anchored by Nats Park and the Department of Transportation's headquarters may still be emerging, but that doesn't mean it's cheap. According to data from Apartments.com, rents for a one bedroom at Camden South Capitol (where last year we snapped First American Title's Susan Goldstein, Camden's Mark Bucci, Donohoe's Ted Oberst, and the Capitol Riverfront BID's Ted Skirbunt) will run you at least $1,909 per month, and as much as $2,849 for a larger one bedroom. (That's not including any additional charges such as parking.) Nearby, one bedrooms at Toll Brothers' soon-to-deliver Parc Riverside apartments go for between $1,895 and $2,595 per month.
Logan Circle/Shaw/14th Street
Shaw is considered one of the city's most up-and-coming neighborhoods, especially for those ever-important Millennials, but its newer properties are garnering rents you might expect in more established, high-figure spots like Dupont Circle or Foggy Bottom. Roadside Development's CityMarket at O (where we snapped the firm's Richard Lake) is charging $2,062 for its most basic one-bedroom unit. Things only go up from there on 14th Street, where one bedrooms at TIAA-CREF's The District, which delivered last year, are going for between $2,307 and $3,800. Simpson Housing's 14W apartments charge from $2,263 for a standard one bedroom to $3,840 for a one-bedroom penthouse. In Logan Circle, the Whole Foods effect seems to be working for apartment owners—the Hudson and DeSoto complex (across the street from the organic grocery store) charges $2,515 for its most standard one bedroom.
Takoma lies on the border of DC and Maryland, and its newer product is clearly a more affordable alternative to closer-in neighborhoods. Take the Takoma Flats complex from Kettler (here's CEO Bob Kettler with son Forrest), which quotes one bedrooms at between $1,435 and $1,830 per month. Nearby, Gables is currently asking $1,540 for its most standard one bedroom at its Gables Takoma Park.
One of the most highly anticipated projects in the city's history is also currently one of its most expensive. For the prestige of living in one of Hines' CityCenterDC apartments, it'll run you at least $2,660, according to Apartments.com. (Even studios there are going for over $2,200.) We recently snapped one of the project's model units overlooking New York Avenue.
We know we're leaving some neighborhoods out, as well as older or not widely marketed product, but some of the numbers were too interesting to not share. Take the recently delivered Woodley apartments in Woodley Park, which TIAA-CREF paid a record price-per-unit figure for earlier this year. The most standard one bedroom is running anywhere from $3,000 to $5,000. And for one of the massive (as much as 2,200 SF) three-bedroom units? Rents are being quoted as high as $14,000 per month.