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Some Rental Rates Rise, Some Fall

April 8, 2014

Class A apartment rents in the region fell 0.4 percent in the first quarter of 2014 versus the previous year, according to a report out late last week. But in a few pockets, rents rose even as new product continued to hit the market. The Delta Associates report analyzing the regional apartment market in the first quarter of 2014 states that rents for Class A apartments in sub-markets including NoMa/H Street (+4.6 percent) and Prince William County (+8.1 percent) increased over the last 12 months. However, in the three jurisdictions of DC, Suburban Maryland and Northern Virginia, rents for new apartments fell, and in some areas the drop was pronounced. For example, in South Arlington, rents fell just over 6 percent, while on Capitol Hill and Capitol Riverfront rents dropped 2.6 percent. (Urban Turf)

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