Search
 

D.C. Multifamily Sector Remains Strong Despite Federal Job Cuts

The reasons range from affordability to strong fundamentals in the asset class.

By Anthony Russo | March 19, 2025 at 02:40 PM

As the Trump administration’s newly established Department of Government Efficiency continues to cut jobs in Washington D.C., some have wondered if that would negatively influence the local employment and residential market. Well, not necessarily, at least, according to a Washington D.C. multifamily outlook report published by Marcus & Millichap.

It lists a few reasons why. For one, this isn’t the first time a Presidential administration has cut back on the government. The Clinton administration did this; from 1992 to 2000 the federal workforce dropped from 2.3 million to 1.9 million, according to Marcus. And yet, total employment in Washington D.C. wound up increasing by 535,0000 over that period. So far, DOGE has fired more than 200,000 probationary federal workers country-wide, with 75,000 civilian employees accepting buyout offers. However, Marcus noted that Washington D.C. hosts one of the strongest job markets in the nation thanks to its 3.2 percent unemployment rate in 2024 being one of the lowest levels in the country.

NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2025 ALM Global, LLC. All Rights Reserved.