What Is The Average Rent In Arlington Va?
Whichever is the reason for your impending relocation to Arlington, VA one thing is certain. Knowing some things about Arlington, VA before moving there will most certainly help, but the most important thing to know is that the cost of living is high.
The average home price in Arlington is three times the national average which is why renting is an option most young professionals turn to. Renting is a growing trend in Arlington, VA which led to a great majority of households settling to rent, rather than buy. Around 53% of the housing units are occupied by renters as the costs of owning a home might be too high for some residents.
Currently, the median rental price for apartments in Arlington, VA is $2,500. This price experienced an increase of 4% in renting costs since 2019 and as more people move there, chances are, rents will further increase in the future.
Types of units in Arlington VA
The average size of apartments in Arlington, VA is 865 square feet with a $2.47 renting price per square foot. This depends, however, on what type of apartment you actually want to find and, of course, its location. Units with two or three bedrooms are much more spacious while the one bedroom apartments are the ones that are closest to the average size. Studio apartments have less square footage but the rent is cheaper as well. If you’re a single you could easily look into studios or one-bedroom apartments, but sharing with a friend or two could also be a good idea to split the costs between yourselves.
The location - it matters
There are currently approximately 59% of real estate listings for a value of at least $2,000. Rental prices range from neighborhood to neighborhood with some areas going well below the median prices. Among the most affordable locations in Arlington we have Douglas Park with rental properties for a median price of $2,400 while in North Rosslyn we have a median renting price of $3,200. Contacting the local real estate agents in Arlington VA might help you settle for the best neighborhood for you.
When looking into renting an apartment you should first understand that concessions might help you more than you think as rental prices are relatively high as well. For example you can overlook the balcony and focus on kitchen appliances. Some things are more important and it all depends on your lifestyle. Ask yourself if there are any amenities that you can live without and if the answer is yes, that’s where your search should start.
Popular Real Estate Glossary Terms
A measure of actual starts of houses, condominiums, and apartment construction. When an economy is going to take a downturn, the housing sector is the first to decline. The strength in ...
Connected group of wires, woods, or other materials surrounding real property to either protect it or act as a barrier against others. ...
The vertical elements of a door or window frame which provide vertical support to the overall frame. ...
There’s no mystery. The actual age of a property is the chronological age of a property. Say a house was built two decades ago. That house’s actual age is 20 years old.The ...
If you’re a renter and you own a pet, you might be familiar with the term pet rent. There has been a lot of discussion about the meaning of pet rent and controversy as it isn’t ...
Sewer system built into the streets of a neighborhood that is capable of accommodating the excess water flow of a heavy storm without backing up or flooding. ...
A cost of funds index that most adjustable rate mortgages written in California in recent years are tied to. Computed by the Federal Home Loan Bank of San Francisco, it reflects the cost ...
Same as term income statement: Also called profit and loss statement. A financial statement depicting a business entity's operating performance and reports the components of net income, ...
An individual's possessions at his residences, such as furniture. A listing of items and their costs is recommended to obtain proper insurance coverage and as support for insurance ...
Have a question or comment?
We're here to help.