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.
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.
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.