There are 2 DMV locations making the top 10 list for most expensive 1-bedrooms

WASHINGTON — Do you think living in the DMV is expensive? According to a new rental report, two locations in the area rank in the top 10 for the their prices.

Zumper's National Rent Report, which was released Wednesday, shows that the national median for one-bedrooms is up by a 10th of a percent month-over-month and 3.2% year-over-year. This is the smallest increase seen in more than two years. 

These numbers were determined through a July 2023 report, which determined that prices are slowing, but not decreasing. This month is right in the middle of peak moving season, when prices typically rise with the increased demand. But, instead prices are doing the opposite.

According to Zumper, the national median for one-bedroom homes is $1,506, just $2 more than last month; at $1,862, two bedrooms are up $1. 

“Though price increases have slowed dramatically, we don’t expect to see rents decrease anytime soon. In reality, prices are still correcting after astronomical pandemic-era rent hikes,” Zumper CEO Anthemos Georgiades said. “Renters hate uncertainty, and many are putting off moves until they’re more confident in the economy.” 

In the DMV, Washington, D.C. and Arlington, Virginia make the list. D.C. ranks at #9, moving up two spots from the last report, with one-bedrooms costing a median of $2,400. This ties with the #8 location of Los Angeles, California for the rental price.

Right below D.C. is Arlington ranking at #10, which dropped down one spot from the previous list, with the median one-bedroom costing $2,390.

New York City, New York comes in at the number one spot with the median price being $3,980 for a one-bedroom.

For the rest of the year, the rental prices are expected to continue with this trend, but not a widespread or drastic dip in rent prices. Zumper also stated that an important piece of context is the fact that, for several cities on their index, prices vary greatly from one neighborhood to the next. Meaning one side of the city could cost dramatically higher than neighbors on another part of town.