District Metro Stops Lead In One-Bedroom Rent Price Drops

WASHINGTON, DC — Rent prices tend to be higher near transit due to the convenience factor for commuters heading to work and other destinations. But the COVID-19 pandemic changed that as the D.C. Metro saw ridership drop with stay-at-home orders a shift toward remote working.

Even as things reopen, rail system continues to struggle with bringing back riders as commuters have changed their habits.

These trends are evident in RentHop's latest report on median one-bedroom rent near D.C. Metro stations. RentHop releases the report annually, showing the year-to-year changes in median rent. The study found rent decreased in the area of 55 of 91 Metro stops.

RentHop data scientist Shane Lee looked at rental prices between March 1, 2021 to May 31, 2021 at apartments within half a mile of a Metro station. Data is based on non-duplicated listings and WMATA GIS data for Metrorail stops from OpenData DC.

If there were 20 unique data points, RentHop calculated the median. If there weren't 20 unique data points, the radius from the stop was increased to ensure there were enough unique listings when calculating the median.

According to the study, median rent increased near 32 Metro stops and did not change near four stops.

The Metro stations with the largest median rent increases were: West Hyattsville (up 5.58 percent, median rent $1,372.50), Georgia Avenue/Petworth (up 4.41 percent, median rent $1,727), Naylor Road (up 4.35 percent, median rent $1,200), Braddock Road (up 4.29 percent, median rent $1,825), and Branch Avenue (up 3.82 percent, median rent $1,765).

Nine out of the top 10 Metro stops with the largest median rent drops were in the District.

Stations with the largest median rent drops were: Navy Yard/Ballpark (down 13.79 percent, median rent $1,875), Archives/Navy Memorial (down 13 percent, median rent $2,175), Rosslyn (down 12.97 percent, median rent $1,950), Farragut North (down 12.74 percent, median rent $2,042), Judiciary Square (down 12.36 percent, median rent $2,190), Metro Center (down 12.16 percent, median rent $2,150), McPherson Square (down 12.13 percent, median rent $2,100, Federal Center SW (down 11.76 percent, median rent $2,250), L'Enfant Plaza (down 11 percent, median rent $2,225) and Eastern Market (down 10 percent, median rent $1,980).

See RentHop's full interactive map of median one-bedroom rent by Metro station.