WASHINGTON, DC– The appeal of living near a Metro station includes a cost, as DC area homeowners know. But year-to-year modifications in typical rent costs can differ by Metro stop.
Every year, RentHop assembles an interactive map revealing average prices of a one-bedroom house near every Metro station in the DC Metrorail system. To calculate average rent in this year's analysis, RentHop used its rental information for one-bedroom homes from April 1 through June 30, 2019 and 2020 as well as Washington Metropolitan Area Transit Authority geographic info system(GIS information )for Metrorail stops from DC.gov.
The analysis found the average rent increased near 39 stops, compared to 65 in 2019. In addition, typical leas dropped near 42 stations, compared to 32 in 2019. There were 10 stops without any changes in typical lease.
COVID-19 had an impact on the analysis, considering that the DC metro area experienced a 20 percent drop in rental listings in between April 1 and June 30. RentHop associated that decrease to remote working, federal government agencies shutting down or decreasing capacity, and renters postponing relocations during the pandemic.
The interactive map reveals the most and least expensive rents using color coding. The most costly rents ($2,200 and up) are discovered in areas of Arlington and Washington, DC.
Lease near the Columbia Heights and Georgia Ave-Petworth stations is in the mid-range among DC Metro stops. But while the mean cost increased near Columbia Heights, it rose near Georgia Ave-Petworth, according to the analysis.
The median rent for a one-bedroom system near Columbia Heights is $1,997, a 5.1 percent boost from 2019. Last year, the average price was $1,900. Georgia Ave-Petworth's median price is $1,748, a decrease of 5.5 percent from last year. The 2019 mean lease was $1,850.
By contrast, nearby mean rates include $1,700 near the Takoma Metro, $1,963 near the Tenleytown-AU Metro, and $1,750 near the Silver Spring Metro.
Here are the leading five stations with increasing typical rent:
- L'Enfant Plaza (Blue, Green, Orange, Silver, Yellow Lines): $2,600, 8.3 percent year-over-year modification
- Federal Center SW (Blue, Orange, Silver Lines): $2,600, 8.3 percent year-over-year change
- Ronald Reagan Washington National Airport (Blue, Yellow Lines): $2,038, 7.2 percent year-over-year change
- Naylor Rd (Green Line): $1,278, 6.5 percent year-over-year modification
- Vienna (Orange Line): $1,595, 6.3 percent year-over-year change
Here are the top five stations with declining typical lease:
- Fort Totten (Green, Red, Yellow Line): $1,363, -7.6 percent year-over-year change
- Potomac Ave (Blue, Orange, Silver Line): $2,182, -7.1 percent year-over-year change
- Pentagon (Blue, Yellow Line): $$1,900, -7.1 percent year-over-year modification
- West Hyattsville (Green Line): $1,300, -6.8 percent year-over-year change
- Noma-Gallaudet U (Red Line): $2,200, -6.4 percent year-over-year modification
Spot editor Emily Leayman contributed to the reporting of this story.Source: patch.com