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50% of 2018 multifamily deliveries are concentrated in DC emerging east and NoVA Silver Line submarkets

  • ​The Metro DC multifamily market added an average of 11,800 units annually from 2014 to 2017 and is projected to add 11,765 units in 2018. So how has multifamily inventory growth been distributed regionally?
  • Washington, DC: In 2017, Washington, DC accounted for 21% of existing apartment inventory in Metro DC, but 48% of the new apartment deliveries. This trend will continue in 2018, with 46% of Metro DC’s apartments projected to deliver in the District. New deliveries are largely concentrated in the emerging submarkets. Of the 5,449 units projected to deliver in Washington, DC in 2018, 3,721 units (68%) are located in this area. Demand in DC is keeping pace with deliveries and thus rents and vacancy rates have remained stable despite new supply.
  • Northern Virginia: Most of the supply growth is concentrated along the Silver Line with six new buildings (2,201 units) delivering in Reston, Herndon, Tysons, and the RB Corridor in 2018. In 2018, 64% of multifamily deliveries in Northern Virginia are located in Silver Line submarkets.
  • Suburban Maryland: In 2018, 26% of multifamily deliveries in Metro DC are located in Suburban Maryland. This is a 13% slowdown from 2014-2017, during which time Suburban Maryland captured an average of 35% of Metro DC’s new multifamily supply and added an average of 4,150 units annually. Ten buildings (2,880 units) are projected to deliver across Suburban Maryland in 2018, with the greatest concentration of new development (36% of the units) located in Bethesda and the greater Rockville area.​

Source: JLL Research

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