Navy Yard among most ‘apartment crazed’ markets in the country

Navy Yard is No. 4 on RentCafe’s national list of “apartment crazed” neighborhoods. (Courtesy Lerner Enterprises)

Navy Yard reigns supreme in D.C. for the sheer number of new apartments that have been developed, and a new ranking puts it near the top nationally for explosive growth.

Apartment search site RentCafe looked at data from commercial real estate data and research firm Yardi Matrix to see which neighborhoods have seen the most new apartment construction between 2017 and 2021. In Navy Yard, the total is 4,953 units, not only far outranking other neighborhoods, but also accounting for 22% of all new apartment construction in D.C. in the past five years.

It also ranks Navy Yard No. 4 on RentCafe’s national list of “apartment crazed” neighborhoods, topped only by downtown Los Angeles, Midtown Atlanta, and Hunters Point in Queens, New York.

Of Navy Yard, RentCafe says it is “packed with parks, restaurants — and more important construction. With cranes popping up at every single turn, this centrally located riverside area is up for a major skyline change in the next five years.”

In 2018, Forbes named Navy Yard one of the 12 coolest neighborhoods in the world, and in 2017 it made Money Magazine’s list of the 10 coolest neighborhoods in America.

Among other “apartment crazed” D.C. neighborhoods, the Southwest Waterfront ranks No. 2, with 2,901 new apartment units that have delivered in the past five years. That accounts for 13% of all new apartment units delivered during that time in the city.

No. 3 in D.C. is Near Northeast, which includes NoMa and the H Street Corridor, where 1,981 new units in the last five years account for 9% of new apartments delivered in the city.

For its list, neighborhoods with fewer than 500 units were excluded, and the construction data was compiled for the 50 largest U.S. metros.

RentCafe’s top 20 apartment crazed neighborhoods is posted online. Below is where the apartment crazed neighborhoods are in D.C.

Jeff Clabaugh

Jeff Clabaugh has spent 20 years covering the Washington region's economy and financial markets for WTOP as part of a partnership with the Washington Business Journal, and officially joined the WTOP newsroom staff in January 2016.

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