Rental Rate Survey
Montgomery County Maryland Department of Housing and Community Affairs
Overview of the 2018 DHCA Rental Survey
Annually, the Department of Housing and Community Affairs, through its Licensing and Registration unit surveys all Montgomery County multifamily rental facilities on tenant services, unit sizes, rent levels, occupancy and characteristics about structure types including age. This report is based on information from that survey as of April 1, 2018 as reported by 845 multifamily facilities containing a total of 83,769 rental units. Included facilities are located within Montgomery County’s unincorporated areas as well as the municipalities of Gaithersburg, Rockville and Takoma Park.
Most of Montgomery County’s rental facilities (608) are garden style structures with 1-4 stories. Midrise facilities have 5-8 stories and 19 are included in the survey. Another 115 facilities are high-rise with 9 stories or more and 19 are townhouses.
In 2018, the average monthly rent for an efficiency in Montgomery County was $1,367, for a one (1) bedroom was $1,479, for a two (2) bedroom was $1,714, for a three (3) bedroom was $1,993 and for a four (4) bedroom unit or more $1878 (Note: the unexpected difference in rent between three and four bedroom units is due to the number of three bedroom units within garden/midrise/high-rise structures while a large number of four bedroom or more units reside within town home structures which tend to be less costly than other types of structures).
Two bedroom units make up 44% of the bedrooms available for rent in Montgomery County with 42% one bedroom units. The overall vacancy rate is 7.12%, a increase from 6.3% in 2017. Vacancy rates of efficiency units, one, two, three and four bedroom units ranged from 4.7 – 8.7% in 2017. 23,915 rental units changed tenancy since last year resulting in a 32.3% turnover rate. The countywide average turnover rent is for two bedroom units is $1,796 in 2018 while the holdover rent is $1,663 for two bedroom units.
Please contact the Licensing and Registration unit at 240-777-0311 if you have any questions concerning the Montgomery County Rental Housing Survey.
Thank you for your interest in this year’s rental housing survey.
Clarence J. Snuggs, Director
Department of Housing and Community Affairs
High Income = High Rents
The estimated Median Income of Montgomery County Maryland is ranked 15th in the nation in regards to median income, and ranks 9th (tied with Nassau County, NY) in highest median rent; (note: 830 of the 3,144 US counties have reportable rental markets) .
Location is a BIG Factor
Units that are within one mile of Metro have a Median Rent 15.5% higher than properties beyond one mile from these transit facilities. Note: For the Visualization below all units with a rent reported as $0 have been excluded.
Rental Blueprint Application
Click the image on the left to explore facility level data and the trends captured by the Montgomery County Department of Housing and Community Affairs rental Rate Survey.
The 2018 survey excludes 1.72% where the 2017 survey results exclude 1.3% of the data with monthly rents above $9,000 or where rent equals to $0 and the unit is vacant. The data samples have been cleaned to remove duplicates and invalid responses from respondents. The Rental Survey Results are derived from three different samples that are focused on deriving the most valid and representative sample for the respective metrics including rent statistics (98.2% sample), vacancy statistics (99.7% sample), and turnover statistics (87.0%).
2018 Department of Housing and Community Affairs Rental Survey Data
Montgomery County Department of Housing and Community Affairs conducts an annual survey of residential rental facilities located within the County (County Code 29-51). The collected information is published online in the Department of Housing and Community Affairs’ Annual Rental Facility Report.
Note: For privacy purposes an objective exclusion of data has been omitted to conceal identifiable units. All data, including rent, turnover and bedroom size, are self-reported by facility staff as of April 1, 2018 and may not reflect the current property information.
Note: For privacy purposes an objective exclusion of data has been omitted from the table below to conceal identifiable units.