Rent Prices Increase Near Silver Spring Metro Stops Since 2021: Report

SILVER SPRING, MD — Rent prices increased near most of the DC region's Metro stops, including those in Silver Spring, a new RentHop report says.

RentHop compiles an annual report on median rent prices near Metro's 91 stops in DC, Maryland and Virginia. The report analyzes prices of one-bedroom apartments from May 1 to July 31, 2021 and 2022 from RentHop and Washington Metropolitan Area Transit Authority GIS data for Metrorail stops from DC.gov.

Apartments used in the report are within a half mile of a Metro stop and cannot be duplicated listings. RentHop calculated the median of the rent prices if there were 20 unique data points. If there weren't 20 unique data points, the radius from the Metro stop was increased.

In the latest report, RentHop found rent prices increased near 89 of 91 Metro stops. That's a significant change from last year's report, when rent decreased in the area of 55 of 91 Metro stops.

In last year's report, RentHop attributed those declines to commuter habit changes and remote working during the COVID-19 pandemic.

But as cities emerge from the COVID-19 pandemic, housing affordability is worsening. RentHop's report found the median one-bedroom rent near Metro stops is $1,854, a 9.03 percent increase from a year ago.

"Renters in major cities across the U.S. have experienced significant rent hikes as the country recovered from the COVID-19 pandemic," RentHop noted in its report. "In New York, rents have rebounded and exceeded the pre-pandemic level. Similar things are happening in Miami and Boston, and Washington D.C. is no exception."

The highest median rent increases in Montgomery County around Metro can be found on the eastern end of the Red Line, with the Glenmont Station posting a median rent price of $1,625 for a 12.1 precent increase. The Forest Glen Station was the next highest with a 12 percent increase and a $1,750 median rent price.

The other two stations on the western end of the Red Line also saw increases over last year, but by not as great a percentage. Silver Spring Station's median rent is $1,800 (9 percent increase) and Wheaton Station's is $1,500 (3.4 percent).

Metro stations on the western end of the Red Line in Montgomery County all saw rent increases in the surrounding areas compared to last year. The highest percentage increase is near the White Flint Station, where the median rent is $1,750, which is a 10.8 percent increase.

Other median rent prices include $1,970 near the Bethesda Station (1.9 percent increase), $1,898 near the Medical Center Station (10.2 percent increase), $1,725 near the Grosvenor-Strathmore Station (7.8 percent increase), $1,775 near the Twinbrook Station (9.2 percent), $1,800 near the Rockville Station (9.1 percent increase) and $1,550 near the Shady Grove Station (6.9 percent).

The only stations in the D.C. area where median rent did not increase were Fort Totten ($1,500) and West Hyattsville ($1,450).

The stations with the highest increases in median rent are:

• Foggy Bottom-GWU, Washington, DC: $2,375, 18.75 percent increase
• Congress Heights, Washington, DC: $1,400, 17.89 percent increase
• Pentagon City, Arlington, VA: $2,248, 16.84 percent increase
• Farragut West, Washington, DC: $2,471, 16.69 percent increase
• Pentagon, Arlington, VA: $2,245, 16.63 percent increase
• Branch Ave, Camp Springs, MD: $2,050, 16.15 percent increase
• NoMa-Gallaudet U, Washington, DC: $2,258, 15.77 percent increase
• Cleveland Park, Washington, DC: $2,140, 15.21 percent increase
• Navy Yard-Ballpark, Washington, DC: $2,099, 15.01 percent increase
• Farragut North, Washington, DC: $2,350, 14.63 percent increase

See RentHop's full report and an interactive map of rent prices near the DC region's Metro stations.