CatDisco99 t1_jad0j9q wrote on February 28, 2023 at 3:40 PM

Reply to comment by Gumburcules in D.C. Tenants in Rent-Controlled Units Could See as Much as 8.9 Percent Increases by rennbrig

Maybe the vacancy rate is low because of the overpriced rent? 🤔

Gumburcules t1_jad6qld wrote on February 28, 2023 at 4:21 PM

I don't think you understand what a "low vacancy rate" means.

DC's class A vacancy rate is currently 5.7%, meaning 94.3% of class A (i.e. "luxury" apartments) are currently being rented. The national average for residential vacancy is 5.8% so DC is a slightly more competitive market.