Washington, DC, Multifamily Report – November 2025
The market's key fundamentals went with the flow as year-end neared.
By the end of the third quarter, Washington, D.C.’s multifamily market fundamentals remained mixed. Average advertised asking rents were down 0.3 percent, on a trailing three-month basis through September, to $2,227 and 20 basis points below the U.S. average. Yardi Matrix expects an increase for the rest of the year, with the forecast at 2.3 percent for 2025.
Washington, D.C., employment rose 0.5 percent through July, 30 basis points below the national average. Education and health services led growth, adding 16,600 jobs to the workforce and marking a 3.3 percent yearly expansion. Still, the metro recorded a net loss of 4,400 jobs year-over-year. The area’s unemployment rate was 5.6 percent as of August, marking a 50-basis-point increase month-over-month, according to preliminary data from the Bureau of Labor Statistics. A $3.7 billion project will be taking shape at the former RFK Stadium site and will feature a 65,000-seat venue, as well as retail, riverside park space and some 6,000 affordable units. The Washington Commanders received final approval from the D.C. Council.
Developers brought 12,457 units online this year through September, accounting for 1.9 percent of existing stock and 30 basis points below the 2.2 percent national figure. Transaction volume reached $1.9 billion, with 32 assets changing hands.
