When Is Rental Demand in Alexandria City the Strongest?

UPDATED APRIL 20, 2017

When can you get top dollar for your rental? When is the fastest absorption of new rental listings? As a landlord or investor, knowing these can help with your market strategy. It’s also useful for tenants.

Seasonal Rental Demand in Alexandria City

It’s common knowledge that rentals go quickly in late spring and early summer. That’s when many people relocate to the DC area for new jobs, internships, etc. And it’s much harder to find a tenant in the winter.

I wanted to visualize this seasonal change in demand.

Here’s the graph showing the relative strength of each month. The horizontal line is the average across the data set. You can read more about my methodology in the paragraphs below.

No big surprises here. The best time to list a rental is between April and July. The May peak in Alexandria City does come a little early though. The DC rental market peaks in July and Arlington – June.

Another thing I noticed is how quickly the graph goes up and drops down. The seasonality seems stronger compared to Arlington or DC.

Here’re my posts on rental demand in Arlington and rental demand in DC if you’re curious how they stack up against Alexandria City.

How I Came Up with the Demand Graph

I pulled up all successful rental listings in Alexandria City going back to 2012. By successful I mean those that found a tenant. I then split up the data month-by-month.

Within that monthly data, I calculated the median for final rented price and days on market. I chose median instead of average because it’s less susceptible to extreme values. For example, some rentals stay on the market for many months. Others are for very high-end properties at correspondingly sky-high prices.

I also totaled the number of successful rentals for each month.

Rental Demand in Alexandria Month by Month

Here’s the data in table format:

2012

Units Final Monthly Rent Days on Market
Jan 94 1,750 17
Feb 111 1,875 13
Mar 98 1,898 10
Apr 132 2,025 17
May 163 2,100 13
Jun 158 1,973 13
Jul 137 2,095 16
Aug 144 1,900 20
Sep 107 1,875 20
Oct 106 1,913 30
Nov 105 1,875 29
Dec 78 1,928 27

2013

Units Listed & Rented Final Monthly Rent Days on Market
Jan 103 1,995 22
Feb 97 1,875 22
Mar 113 1,950 21
Apr 146 2,075 20
May 204 1,998 21
Jun 156 2,075 23
Jul 168 2,073 19
Aug 153 1,895 24
Sep 142 1,975 36
Oct 120 2,000 37
Nov 120 2,095 59
Dec 89 1,900 46

2013

Units Final Monthly Rent Days on Market
Feb 115 2,250 33
Mar 132 2,350 28
Apr 143 2,495 33
May 180 2,425 24
Jun 195 2,600 23
Jul 198 2,500 22
Aug 228 2,245 33
Sep 143 2,300 36
Oct 166 2,225 45
Nov 116 2,316 47
Dec 135 2,100 51

2014

Units Final Monthly Rent Days on Market
Jan 118 1,900 33
Feb 101 1,800 29
Mar 99 1,950 31
Apr 153 1,900 28
May 199 2,000 22
Jun 167 2,100 19
Jul 176 1,993 28
Aug 172 1,900 33
Sep 135 1,900 41
Oct 134 1,900 67
Nov 123 1,950 55
Dec 97 2,100 49

2015

Units Final Monthly Rent Days on Market
Jan 129 1,850 40
Feb 126 1,950 41
Mar 132 1,800 33
Apr 155 2,100 31
May 193 2,200 20
Jun 190 1,985 27
Jul 199 1,950 33
Aug 143 1,900 21
Sep 155 1,845 41
Oct 155 1,900 45
Nov 90 2,000 33
Dec 90 1,900 52

2016

Units Final Monthly Rent Days on Market
Jan 96 1,850 33
Feb 133 1,900 27
Mar 136 2,073 29
Apr 151 1,950 24
May 155 2,000 23
June 187 2,200 19
July 171 2,050 24
August 160 2,000 25
September 140 2,000 33
October 121 1,850 29
November 103 1,995 38
December 102 2,075 27

 Graphing the Data Out

Being a visual person, I didn’t find the tables that useful to look at. So I decided to rank the data based on the month’s rental strength.

I standardized the data using z-scores, so I can compare apples to apples. I then applied the following weights to each of the three indicators before combining them into a final score.

  • Units Rented: 25%
  • Final Monthly Rent: 50%
  • Days on Market: 25%

That’s how I see it as an investor, but other people could prioritize things differently.

After analyzing the data from January 2012 to July 2015, here’s how the rental demand in Alexandria City stacks up on a monthly basis (from best to worst):

1. May
2. June
3. July
4. April
5. August
6. March
7. November
8. September
9. December
10. February
11. October
12. January

Further Reading

If you enjoyed this post, you may also want to read about the best times to buy and sell real-estate.

Next Steps

If you need to see these numbers for another area, type of housing, community, etc., I’ll be happy to run the data for you. Just contact me below:

2 Comments
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