Arlington ranks sixth most expensive among 100 urban areas nationally in terms of apartment costs, according to new data.
Median rental rates in December stood at $2,440, according to figures reported Jan. 3 by Apartment List. While down slightly from a month before, it marks a 6.3-percent increase from the start of the year.
Among the 100 urban areas tracked by Apartment List, Irvine (Calif.) had the highest median rental rate, at $2,986, with Fort Wayne (Ind.) the lowest at $957. The U.S. median was $1,379; the D.C. region’s median was $2,086.
Arlington’s 1-percent decline month-over-month put it 67th nationally in terms of appreciation (or lack thereof) and was roughly on par with the national dip of 0.8 percent. Long Beach (Calif.) had the highest growth rate, at 1.3 percent, with Jersey City (N.J.) the largest decline, at 2.6 percent.
“Arlington’s rent growth over the past year has outpaced both state (+3.3%) and national (-1%) averages,” Apartment List analysts noted.
The growth rate of 6.3 percent in 2023 compares to 4.2 percent in 2022, 16.4 percent in 2021 and 2.5 percent in 2019. In 2020, when the market was upended by COVID, median Arlington rents dropped 13.1 percent between January and December.
For the full national report, see the Website at https://www.apartmentlist.com/research/national-rent-data. For the Arlington report, see the Website at https://www.apartmentlist.com/rent-report/va/arlington.
