With an astounding 6,000 new rental units due to come on the market in D.C. by the end of the year, the city's renters are about to get a welcome respite, report Brady Dennis and Amrita Jayakumar.
The coming surge in available units, the vast majority of which are aimed at the city's growing population of young professionals, is "the first such wave of new building in the area since the financial crisis hit in 2008." And for D.C.'s renters - "who have been plagued in recent years by rising rents, fewer vacancies, pickier landlords and periodic bidding wars" - the avalanche could exert welcome downward pressure on rents throughout the city, write Dennis and Jayakumar.
"The projected number of new units would be more than double the
number that went on the market in the Washington area during each of the
past two years. And by national standards, the coming boom is
exceptional - by comparison, only about 2,500 new units are expected to
go on the market in New York City this year," note Dennis and Jayakumar.
"But even with the swelling supply of new apartments, finding an affordable home in the Washington region will remain a challenge,
analysts said. The average monthly rent in the District is $1,501,
according to Reis Research, a commercial real estate research firm. By
comparison, people pay $868 a month in Atlanta, $928 in Austin, $1,085
in Seattle and $1,113 in Miami. Nationwide, the average monthly rent is
$1,081."
FULL STORY: A renter’s respite: In Washington area, thousands of new units to open soon
Pennsylvania Mall Conversion Bill Passes House
If passed, the bill would promote the adaptive reuse of defunct commercial buildings.
Planning for Accessibility: Proximity is More Important than Mobility
Accessibility-based planning minimizes the distance that people must travel to reach desired services and activities. Measured this way, increased density can provide more total benefits than increased speeds.
World's Largest Wildlife Overpass In the Works in Los Angeles County
Caltrans will soon close half of the 101 Freeway in order to continue construction of the Wallis Annenberg Wildlife Crossing near Agoura Hills in Los Angeles County.
Eviction Looms for Low-Income Tenants as Rent Debt Rises
Nonprofit housing operators across the country face almost $10 billion in rent debt.
Brightline West Breaks Ground
The high-speed rail line will link Las Vegas and the Los Angeles area.
Colorado Bans No-Fault Evictions
In most cases, landlords must provide a just cause for evicting tenants.
City of Costa Mesa
Licking County
Barrett Planning Group LLC
HUD's Office of Policy Development and Research
Mpact Transit + Community
HUD's Office of Policy Development and Research
Tufts University, Department of Urban and Environmental Policy & Planning
City of Universal City TX
ULI Northwest Arkansas
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.