The area where apartment rents increased the most in the Washington metro area was Laurel, Maryland, followed by Oakton and Annandale, Virginia, which also saw large increases.<\/p>\n
Local media outlet Annandale Today reported on the 30th that real estate information provider Redfin analysed apartment rent data for September in metro areas across the country and found this. According to the report, the area where apartment rents in the Washington metro area rose the most year-over-year was Laurel, Maryland, which jumped by a whopping 23.2%, followed by Oakton, Virginia (19.1%) and Annandale (18.8%).<\/p>\n
According to Apartment.com, an apartment information site, the median rent in the Annandale area is $1,984 as of September, while the rent for a one-bedroom apartment at Vistas of Annandale went up from $1,948 last year to $2,048, and the rent for a one-bedroom apartment at Parliament Apartments jumped from $1,923 to $2,585.<\/p>\n
In addition, the rent for a one-bedroom apartment at Fairmont Gardens is advertised as $1,452 per month for a 15-month contract, or $1,699 per month for a 12-month contract. Meanwhile, the Washington area showed the largest rent increase in the nation with a 12% increase in rent over the past year, followed by Virginia Beach (11.3%) and Baltimore (10.6%).<\/p>\n
According to experts, the reason for the sharp increase in rents in the Washington metro area is believed to be a strong local economy, income growth, and rising housing prices.<\/p>\n","protected":false},"excerpt":{"rendered":"