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DC rents drop but still among priciest in nation

According to the report, renters in the DC area spend an average of more than 60 percent of their wages on rent. (AP Photo/David Zalubowski, File)

WASHINGTON – The nation’s capital became slightly less expensive for renters in June, but D.C. easily remained among the country’s top 10 priciest markets, according to real estate analysts.

A report from Zumper, a website that tracks rental prices, shows D.C. rents dropped from fifth most expensive in the nation to sixth, now behind Oakland, California.

“Big cities are seeing some plateauing,” said Zumper analyst Tanguy Le Louarn.

“This is a very common phenomenon. We’ve seen it in San Francisco, and D.C. seems to be affected in a similar fashion,” he said.

The median price for a one-bedroom apartment in D.C. was $2,190 in June. That was down more than 3 percent from May when it was $2,270.

Prices for two bedrooms went down by a similar margin.

In June, the median price for a two-bedroom apartment in D.C. was $3,040, while the month before it was $3,150.

When compared to the same time a year ago, however, both one- and two-bedroom apartments are more expensive now. One-bedroom apartments are up by nearly 1 percent, while two bedrooms are up 1.3 percent.

“The big takeaway is year over year, you do see a small growth,” added Le Louarn.

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