Renters in the Washington D.C. area are facing some tough choices this year, as landlords have increasingly resorted to raising rent for residents of their own homes in an effort to lure more renters.
A new report by the Institute for Local Self-Reliance (ILSR) found that a third of D.N.C.-area renters are currently paying more than $400 per month for their apartments.
In some cases, this can be the first step in getting more renters to buy into their rentals, while others are forced to make up the difference by cutting back on amenities or canceling their leases.
For a full list of the best rental options, read our guide to D.P.C.’s best rentals.
The Institute for Community Development (ICD) released its report on the state of rent in D.
This year, the report found that landlords are taking steps to increase rents and, in some cases to force renters to move.
Rents in the D.L.C., which includes Washington D.-area suburbs, are expected to reach $1,000 by 2021, the institute said.
The report also found that more than one in five renters in the capital were paying more in rent than they earn in a year.
It found that one-third of the rent that they pay is in the form of a mortgage payment, a third in rent-controlled housing or rental vouchers.
More than 80 percent of D-N.Y. renters in its study paid more than they earned in a single year, while nearly three-quarters of New York renters did not pay rent at all.
Rent in New York City is the highest at $2,744 per month, followed by Philadelphia at $1.734, Chicago at $938 and Boston at $892.
In Baltimore, where rent is relatively low, nearly half of the renters pay more than the median income, while about two-thirds of renters in D-Holland pay less than $100 per month.
The institute found that many of these neighborhoods are experiencing an increase in the number of people living on fixed incomes, as more and more people are struggling to pay rent and are seeking out rental assistance.
The report also noted that D.S. residents are experiencing a “severe housing shortage.”
More than a third (37.5 percent) of the D-Somerset, D.D. and D.R. renters living in the metropolitan area, which covers Baltimore, Philadelphia, Washington D-Crescent, Virginia Beach, Montgomery County and Montgomery, paid more in rental income than they were earning in a full-year in 2021.
About a third, or 34.5 million D.U.N., of the 3.9 million D-Riverside renters living there in the same geographic area, also paid more.
In contrast, just 3.5 to 4 percent of the non-metro residents of these counties paid more rent in 2021, according to the ICD.
The findings were released as a part of the latest edition of the National Rent Monitoring Survey, which is a statewide snapshot of the financial state of the nation’s rental market.
The survey asked nearly 3,000 renters across the country about the impact of rising rents and the impact on their ability to afford the rent they pay each month.
Rates of people who rent in their own home have continued to rise in recent years, the latest figures from the Census Bureau show.
The median rent for a two-bedroom apartment in New Orleans rose more than 25 percent between 2014 and 2021, while the median rent in Washington, D-W, rose 13.4 percent.
Rents are increasing more quickly in some cities, like San Francisco and Chicago, than others, like Los Angeles, Boston and Chicago.
Rental affordability for renters is particularly challenging in the more expensive markets, like New York and Philadelphia, where the median rental is less than half the median for a typical apartment in the Bay Area, according the report.
More:D.C.:The region where the city’s rent problem hits hardestThe District is one of the wealthiest cities in the country, with an average income of more than five times that of the national average, according a 2016 report by U.S.-based real estate research firm Zillow.
In 2021, rent in that region stood at $4,079, nearly double the $3,879 the national median rent is for a similar apartment in Los Angeles.
The region’s median rent also was higher than the national level in all 50 states, the study said.
C, the average rent was $2.2, the most expensive in the nation, according an analysis of Zillows data by the National Association of Realtors.
In Washington, it was $3.1.
The ICD found that the region’s average rent rose 6.3 percent in 2021 compared