- There is a short supply of rentals because many homes are being bought by owners who plan on occupying the property.
- Small number of apartment buildings on Capitol Hill compared to other parts of the city.
Many apartment buildings were converted to condos.
- Extreme Rent control laws that don't allow for open competition between tenants.
- Many current tenants live in prime locations and pay way below market rent. I
- Increased number of Senators, Reps & Capitol Hill staffers want to live within walking distance to the capitol.
- Growth & Development of Capitol Hill is attracting more people to live in the area.
- If the current president rented on Capitol Hill, then its safe enough for others to live there, so people that preferred other parts of the city are now looking at Capitol Hill as an option
Saturday, March 21, 2009
~For a renter, Capitol Hill is a tough market for many reasons.
For a renter, Capitol Hill is a tough market for many reasons.