U.S. News and World Report has it that a spike in rents in the District “could exceed 10 percent,” since the recession hasn’t affected Washington in the way it has other cities, leading to more demand from renters.
Considering that the average “asking” rent in town is now $1,521, the annual increase is pegged at 5.4 percent and the going rate for new apartments in Foggy Bottom has almost broken through the $5-per-square foot ceiling, I’ll just go ahead and start preparing my cardboard box now.