Matrix Multifamily Washington DC Report-February 2023 March 01, 2023

DC Doubles Down on Development

After a strong bull run, the Washington, D.C., rental market is altering course, moving closer to historic averages. Rents were down 0.4 percent in the last quarter of 2022, while occupancy inched down slightly. However, development powered through, with nearly 33,000 apartments underway going into 2023.