Photo by Grace C.
Everything is relative. So paying, say, $2,000 a month for an apartment in D.C. might be well within your price range or it might cause utter financial ruin. It depends on how much money you’ve got.
A new report compared one-bedroom apartment rent prices from apartment finder RadPad with median household income numbers to determine where in D.C. people are spending the biggest chunk of their salary on housing.
The report, first flagged by Urban Turf, finds that the 20010 ZIP code spends a staggering 62 percent of income on rent.
Now that doesn’t mean the Columbia Heights/Park View neighborhood is the most expensive. Tied for number two on the list, 20005, which captures Logan Circle and parts of Metro Center, has a higher average rental cost. However, it’s coupled with a higher average salary, meaning renters pay around 53 percent of their monthly take-home to their landlords.
Also at 53 percent? The zip code 20032, which includes Congress Heights and Washington Highlands. Rental costs are about half of what they are in 20005, but so are incomes.
Image courtesy of RadPad.
The U.S. Department of Housing and Urban Development recommends that households spend 30 percent or less of their income on rent. A SmartAsset study found that D.C. is the fifth most expensive city for people to avoid becoming “cost-burdened households.”
An important thing to note about this report: it only looked at average rental prices through RadPad. And as DCist contributor Andrew Wiseman discovered, that sample size is incredibly small: for the 20010 area code, the RadPad listings are in the single digits.
Updated with comment from Andrew Wiseman.
Rachel Kurzius