Millenials, Gen Z in D.C. opt for luxury rentals over buying

Abstract

D.C. is the fourth largest multifamily market in the U.S. with 566,750 existing units and 257,122 more in development. The average monthly rent in the area is $2,335, according to an analysis by Yardi. In the capital, 60% of housing underproduction is attributed to missing households and a lack of rental properties set at the right price. The DMV area is expected to undergo more changes. Amazon and Boeing are bringing more white-collar jobs to the area. The area is also expected to have more local competition for housing. The city isexpected to undergo further changes in the region. The region is expected in the next few years.

Millenials, Gen Z in D.C. opt for luxury rentals over buying

Multifamily

Housing-inventory

Housing-markets

First-time-home-buyers

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