Thursday, April 17, 2014

Renting in DC- where and how much

I get a bunch of rentals that come my way, and I appreciate how hard it is for those looking for a new spot in DC. I remember when I moved here and didn't know one community from another and wasn't sure where the heck I was, let alone where I should live. It would have been helpful for someone to give a bit of a background on the rents and what someone could get for a reasonable price.

So, here you go. This town sucks for renters. And owners, although that will be in a future post. For renters, be prepared to pay a premium to live downtown. 

I've lived in Cleveland Park, Capitol Hill and Chinatown. I liked living in a Chinatown condo since it had a pool, but those rents are now at least $2,400 for a single, and trending way upwards. Cap Hill was neat since you got a back yard and your own grill.. but some areas are too crazy.  Dupont? Forget it unless you have money to burn and don't want to retire.. Like ever. 

Your goal (IMHO) should be to live with some cool people and try not to rack up the debt so that once you find a job that pays a livable wage you won't have to start paying down 20k in credit card bills.. Or for the usual route- you will be here for 2 years and then figure out that politics/policy/lobbying/campaigning isn't for you long-term..  so don't go home with your head down and with a ton of debt. Go home with your DC stripes, a ton of experience and with a lot more wisdom and money in your pocket.

If you are like me, try to find some edgy areas like Petsworth (the new Columbia Heights), Cap Hill or H St. NE. But, remember- rent is negotiable! I went to a broker and found a condo that had been on the market for nearly 6 months and offered $1,500 a month. After negotiating I got it for $1,600, which was down from the asking price of $2,100. Now, that was on my second stint in DC and I was married with a good job, so it isn't for everyone. But, if you love a spot, offer a little more to secure it. If it has been on the market for a while, try to negotiate down. 

The thing I did when I first moved here was move into a group house. 5 people, 3 of one sex, 2 of the other. It was fun, and I met a lot of people I am still friends with today. You can still do that and get away with $800 or so a month. Try your best to be at least about 15 minutes to a metro or a decent bus line. You really need to try to not use Uber  (get $20 bucks free by clicking on that link) more than a few times a month (or not at all). H St. will (SOMEDAY) have a trolley and the X2 is a cheap and direct link to downtown, although it can be..ahem.. interesting.

If you do want a one bedroom- be prepared to pay at least $1,500 or so. My buddy listed his yesterday for $1,675, and it is in a dope little area around where I live on H St. Consider it Cap'n O endorsed.

Honestly, there isn't a great place to find good group houses anymore except Craigslist.. maybe I'm wrong since I haven't really looked lately, so leave some sites in the comments if you know of any. 




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