One-Bedroom Units Top The Charts For DC Apartment Hunters
As the month of April draws to a close, we have a new look at the neighborhoods that are topping the charts for DC renters.
Real estate research website Zumper has passed along its Market Demand Report for April 2016, which points us to the neighborhoods and property types that are generating the most interest. The report compiles the data from thousands of renter inquiries to gauge demand.
Topping the list on the neighborhood side is the Northeast DC neighborhood of Brookland, which received 12% more inquiries than Columbia Heights, which took down the No. 2 spot. Rounding out the top five are H Street/NoMa, Dupont Circle and Petworth.
One bedroom units are the most sought-after apartment types for DC renters. Of all inquiries, 35% were seeking one-bedroom units at a median price point of $1,800 per month. Demand for two-bedrooms came in at 29%, with a median inquiry price of $2,550, while studios checked in at 24% and $1,450. Larger accommodations were much further down the list, with three-bedroom and four-bedroom units generating a combined 12% of all inquiries.
At yesterday’s regional multifamily forum hosted by Bisnow, we gained some more valuable insight into the DC multifamily market, which you can read about here. [Zumper]