The median rent for Arlington apartments declined in January, but remained highest in the metro area and among the highest in the nation, according to new data.
The median rent of $2,127 ($2,003 for a one-bedroom unit and $2,397 for two bedrooms) was down 0.8 percent from a month before, according to data reported Jan. 30 by Apartment List.
Of the 100 urban areas surveyed monthly, Arlington’s rate of growth (in this instance, a decline) placed it 82nd nationally. Across the surveyed areas, median rents were down 0.3 percent.
January “marks the fifth consecutive month of negative rent growth,” Apartment List analysts noted. “We are nearing the end of a particularly slow winter season, in which prices sank faster than previous years.”
Among the 100 urban areas, the highest rate of month-over-month growth was reported in Wichita, Kan., up 1.8 percent. The largest decline was reported in Newark, at 2.8 percent.
Despite the recent sluggishness and a major dive at the very start of COVID in 2020, Arlington apartment rents are up 3.8 percent since the start of the pandemic. Arlington today has the 10th highest median rental rates among the 100 urban areas.
Nationally, the highest median monthly rent in January was found in Irvine, Calif., at $2,996. The lowest could be found in Cleveland at $773. Overall, the national median apartment-rental rate was $1,338.
The median rental price in the Washington metro area in the new data stood at $1,892, an annual growth rate of 2.6 percent.
Among other areas of Northern Virginia:
• Median rental prices for Tysons were $1,996 for one-bedroom units, $2,835 for two bedrooms, with the overall rate down 0.3 percent month over month but up 6.9 percent year over year.
• In Reston, median rates were $1,749 and $1,897, down 0.4 percent/up 2.9 percent.
• In Merrifield, median rates were $1,908/$2,276, down 0.8 percent/up 4.6 percent.
• In Herndon, median rates were $1,555/$1,929, down 1.9 percent/up 1.7 percent.
• In Falls Church, median rates were $1,926/$2,500, up 0.2 percent/up 5.6 percent.
• In Fair Oaks, median rates were $1,881/$2,299, down 0.2 percent/up 4.9 percent.
For more data, see the Website at www.apartmentlist.com/rent-report/va/arlington.
