Finding affordable rent in D.C. is hard, but there are signs of hope – October 17, 2014
Finding affordable rent in D.C. is hard, but there are signs of hope – Washington Post Express – October 17, 2014
If you’ve looked for an apartment recently in the Washington area, you’ve probably experienced some sticker shock. According to commercial real estate research and advisory firm Delta Associates, the average rent price in the metro area is $1,784 a month. That’s a lot of money to fork over for an apartment – no matter how great the view or location is.
For an apartment to be considered affordable, housing experts say, renters should be paying no more than 30 percent of their monthly incomes. So to pay for a pad that’s closing in on $2,000 a month, a renter needs to bring home more than $71,000 a year.
