Those seeking to rent apartments in the Tysons area these days are shelling out more – sometimes much more – compared to a year before.
With median rental rates of $1,996 for one-bedroom units and $2,835 for two bedrooms, January’s rental costs were up 6.9 percent from a year before, according to a new data analysis from Apartment List.
That annual growth rate is among the highest in the region, even though it dipped slightly from December to January.
Tysons was not alone in that regard: The national rental rate was down 0.3 percent month-over-month, standing at $1,338. The median in the Washington metro area was $1,892, compared to $1,338 nationally.
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 surveyed, 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.
Nationally, the highest median monthly rent in January was found in Irvine, Calif., at $2,996. The lowest median could be found in Cleveland at $773.
The median rental price in the Washington metro area represented an annualized growth rate of 2.6 percent. Arlington had the highest median rent in the region.
Among other areas of Northern Virginia:
• In Reston, median rates were $1,749 for a one-bedroom and $1,897 for a two-bedroom unit, with the combined total down 0.4 percent month-over-month but up 2.9 percent year-over-year.
• 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.
