Washington, DC, Multifamily Report – July 2026
Contraction in government and other sectors is taking a toll.
Washington, D.C.’s average advertised asking rents recorded a 0.3 percent increase, on a trailing three-month basis through May, reaching $2,227. The growth rate was on par with the national average. Highlighting continued demand, the metro’s occupancy rate settled at 94.2 percent as of April. The figure was 10 basis points above the national average.
The area lost 122,300 net jobs in the 12 months ending in February. The government sector recorded the sharpest decline in employment, shedding 56,300 jobs and accounting for the largest share of overall losses during the period. As of April, the metro’s unemployment rate was 5.1 percent, according to preliminary Bureau of Labor Statistics data. Despite economic challenges, several projects are moving along across Washington, D.C. The National Capital Planning Commission approved a preliminary plan for the 70,000-person stadium reshaping RFK Campus, with completion targeted for 2030.
During the first five months of 2026, developers added 4,101 units to D.C.’s stock. Construction activity remained elevated with more than 21,000 units under construction and an additional 235,000 units in the planning and permitting stages. Investment activity also picked up. Year-to-date through May, transaction volume reached $1.2 billion, well above the $866 million that traded during the same period in 2025.
