DC-Area Renters Benefit from Nearly 1% Decrease in November

Asking rents in the DC region fell nearly 1% to $2,356/month, one of the largest declines nationally. Increased rental supply and lower turnover have slowed rent growth. Landlords are offering more concessions, with nearly 40% of rentals including perks like free parking or rent discounts, the highest November rate recorded, reflecting elevated vacancy rates and greater renter negotiating power.