Despite a modest month-over-month dip, apartment-rental rates in Tysons in July remainder near the top of the pack across the Washington region.
With a median rental rate of $2,402 for one-bedroom units and $2,880 for two bedrooms, rental rates in Tysons were bunched with those in Arlington and Ashburn for the highest among 32 communities inside the Washington region tracked by Apartment List.
The July rental rate in Tysons was down 0.2 percent month-over-month (the same percentage decline as the national market) but was up 3.7 percent year-over-year.
The median apartment-rental rate across the Washington region in July was $2,198, counting all sizes of units, compared to a national median of $1,414.
Increasing numbers of available apartments is helping to provide a degree of relief for renters, Apartment List analysts said.
“After prices skyrocketed in 2021 and 2022, the pendulum has since swung back as price growth has been kept in check by sluggish demand colliding with a robust supply of new inventory hitting the market,” they noted.
That said, this recent dip does not equate to a reversal of the earlier price hikes.
“Although the national median rent is now 1.9 percent below its August 2022 peak, it is still 23 percent higher than it was at the start of 2021,” analysts noted.
For the full national report, see the Website at https://www.apartmentlist.com/research/national-rent-data.
