No Vacany for Class B Apartments in DC, SW Emerges in top 3 for highest price per Square Foot (Washington: neighborhood)

[DCadvocate]

Housing shortage remains a problem in DC. And be prepared to pay high rents per square foot for the following top three areas in DC: #1 Mt. Vernon #2 NW, Washington DC & #3 SW Washington DC. For those in past forums who had concerns about venturing to SW, I think this show's that the change has arrived to SW Washington and get ready to dig deep to pay for housing. Read the full article here:

No Vacancy for Class B Apartments in DC


Thoughts??

[jokerstars]

The whole appeal of SW is how affordable it is. I can't see prices going up with so few amenities.

[howlett87]

I just moved to SW in May and the building was built in the 1960's (so this would be a "class b"). There was a few studios available and that was it. My guess is that anything above a studio in SW, is gobbled up within a week or two.

There are several apartment buildings that are being built in SW currently and some that in the design stage, waiting to be approved. Some of those buildings are already at or near being filled with move-ins - despite not being done yet. Same with the apartment buildings being built in Near Southeast, near Nats Park. These building would be class a.

[DCadvocate]

Originally Posted by jokerstars

The whole appeal of SW is how affordable it is. I can't see prices going up with so few amenities.

Well prepare yourself because prices are going up faster than you think. The key phrase here is "Housing Shortage" which means fewer places for people to live in a city with high demand. Basic economics, high demand + few supply = High Prices. People need a place to live and if they have the neighborhood basics: Starbucks, local grocery store, pharmacy, a bar, and (3) metro stations within walking distance you better believe they will flock to buy up what few apartments are available.