Those Class A units comprise the majority of new construction around the region and are generally developments built after 1991 and featuring amenities. The effective rent per month in one of those units in Alexandria, which includes a mix of studios, one and two-bedroom rentals, is $2,475 per month.
That increase is one of the sharpest increases in the region, behind only Upper Georgia Avenue (increased by 5.6%) and Bethesda (increased by 5.2%).
Rents for those types of units increased across most of the region, only decreasing slightly in NoMa and the Capitol Hill neighborhoods of D.C.
Rents for Class B units, generally mid/high-rise units, has also increased over the last years, rising by an average of 18% in the region. UrbanTurf reported last year that West Alexandria saw a 116.8% increase in Class B unit rents while Arlandria saw a 108.1% increase.
Anita Morrison, principal at Partnerships for Economic Solutions, said in a panel earlier this year that despite a surge in new residential units being built in Alexandria, rents have continued to climb.
“The fastest growing age category is people ages 65-74 and children under 20, but folks 20-24 dropped in Alexandria and 25-34 did not grow as much as the rest of the market,” Morrison said. “We think that’s a reflection of not being able to buy here.”
Morrison said the problem is that, even with the new housing units, Alexandria’s housing supply isn’t keeping pace with the demand.
“The scale of developments haven’t met the need,” Morrison said. “We’re always running a few steps behind the demand. It’s about getting enough supply to increase vacancy rates and create competition, but we’ve never moved the needle enough with supply to see that happen.”
It’s been a busy week in Alexandria. Just days after Alexandria’s City Council voted unanimously to ditch single-family-only zoning, Mayor Justin Wilson announced that he would not be running for…
The days of digging through archives by address to find a historical report on a building in Alexandria could, themselves, be a thing of the past. Anyone can now easily…
Friends of Guest House needs pajamas and cozy socks for their female residents who are transitioning back to the community from prison. Realtor Maureen Clyne started the annual effort four years ago…
A 4 BD/2.5 BA home with a gas fireplace, patio and a large landscaped yard is included in Just Listed.
Get ready to Shake, Rattle and Roll with this one-of-a-kind, high-octane rockabilly concert experience! Rockabilly Rumble is the all-new, musical experience celebrating the southern rock music that exploded on the scene in the 1950s. Organized by Alexandria City High School Alum and pro-musician Sam C. Jones, this band of world-class performers will have you dancing in your Blue Suede Shoes all night long with songs made famous by Bo Ridley, Carl Perkins, Roy Orbison, Buddy Holly, Johnny Cash, Elvis Presley and more. Relive their most popular hits, along with some forgotten gems. “Rockabilly Rumble” is a dance-worthy, foot stomping evening you’ll never forget!
This show is 21+ only.
YOU MUST HAVE A VALID PHYSICAL ID. A PICTURE OF YOUR ID IS NOT ACCEPTABLE.
Unwrap the magic of Black Friday and Small Business Saturday all weekend at Current Boutique! Dive into luxury with exclusive deals on pre-loved designer treasures, celebrating sustainable fashion with every purchase. Whether in-store or online, indulge in guilt-free glamour and support local businesses. ✨🛍️👗
💥 Sale: 25% off everything & 50% off tall boots
📅 Date: Friday November 24 – Sunday November 26