Climbing rental rates in Washington, D.C. are nothing new. Census data from 2010 showed that the median rent in the District was higher than that of New York, Los Angeles, Boston and San Francisco. According to statistics, the median rent in D.C. was $1,391; the only rental market more expensive was San Jose, CA

However, relief is on the way in the form of more options. According to Mike Blum of the Insight Property Group, rent in D.C. has begun to level off and drop due to "a lot of new units coming online." The real estate boom in emerging neighborhoods is due to the fact that people—both young and old—are electing to rent as opposed to purchasing property.

While rent in D.C. is high, that doesn't mean that it's impossible to live in the city. There are good deals out there, people just have to be smart (and patient) enough to look them. You don't have to pay $1,300 for a one bedroom in D.C., some people just do it because they don't know any better.

[via WTOP]

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