The cost of a one-bedroom apartment near the Foggy Bottom Metro station is soaring, according to data compiled by apartment-hunting website, RentHop.
The report, which examined rent costs in one-bedroom apartments near Metro stations across the D.C. area, found that Foggy Bottom had the second largest increase in median rent of all 91 Metro stops studied. The median annual cost to rent a one-bedroom apartment in the neighborhood is about $2,425 this year, a 10.2 percent increase compared to last year, according to RentHop.
Overall, rent prices for one-bedroom apartments are increasing about 2.6 percent each year throughout the city. In the past year, apartments surrounding 61 of 91 Metro stations have experienced median rent increases. Eleven stations did not have year to year data, according to RentHop.
Apartments surrounding Franconia-Springfield on the Blue and Yellow lines experienced the highest spike in median rent price at 11.4 percent to a total median cost of $1,671. Rent in the area of Navy-Yard Ballpark station on the Green Line rose about 8.9 percent to $2,095, the website found.
Apartments near the Foggy Bottom station are the 14th most expensive in the city. Metro Center is the station with the most expensive rent costs in the surrounding area, reaching $2,700 annually.
RentHop examined rent prices at apartments within one-eighth of a mile of a Metro station. The website used its own rent data along with information from the Washington Metropolitan Area Transit Authority, which oversees the Metro.
