Apartment Report Gives DC Multifamily Market Top Ratings

WASHINGTON, DC-A recent Apartment Research report by Marcus & Millichap Real Estate Investment Brokerage Co. has revealed that the District is continuing to hold its own as a leader in the national multifamily investment game. “Increasing employment in desirable industries such as biotechnology and continued federal spending leads to in-migration and a level of economic stability not seen in other metro areas,” says Andrew P. Boyle, regional manager for the Washington, DC office of Marcus & Millichap. “Investors are taking advantage of low interest rates, an improving economy and a growing population base.”

And Metropolitan Washington’s status as a prime investment locale is expected to continue throughout the year. A 3.2% increase in asking rents is on the horizon, as is a 7.5% increase in sales prices. Even an impending, slight increase in vacancy rates–due to heavy construction activity– is not expected to discourage investors, as that rate is expected to drop down again as employment rates improve and interest rates and home prices rise.