Viewpoint
Greater Washington Apartments Poised for Relative Growth and Resilience
August 10, 2022
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- Against the negative headwinds of a potential, looming recession and geopolitical instability, multifamily rental demand in greater Washington may be positioned for a period of relative growth and resilience.
- Currently supporting an optimistic outlook are: a for-sale housing market, where costs have risen dramatically; and migration trends, which have reversed from the pandemic’s early stages. These are in addition to the various larger demographic and housing issues the United States and greater Washington face.
- In fact, data suggests that owners of Class A buildings may have room to raise rents even further from record-high levels, but affordability for the broader population remains problematic.
- Risks abound, however, and inflation and a decelerating economy may take a greater toll on demand and the construction needed to address affordability.