An article titled, DC area's renters are caught in a squeeze, in yesterday's WaPo covers the continued escalation of rents in the Washington, DC area.  Remarkably, the average monthly rent in DC apartment buildings jumped 8.2% this year to $1,643.  The rental challenge is even greater in popular Mid-city neighborhoods like Dupont, Logan and the U Street Corridor as these areas command a significant premium to the District average.

Compounding the problem is a supply issue as vacancy rates in the DC area are the second lowest in the nation, only trailing New York City.  The shortage of rental units will not improve in the near-term as very few new residential projects were started in the District over the past couple of years due to capital constraints in the housing market.

District renters who are facing significant rate increases may want to consider buying a condo.  There are programs available to DC buyers to assist in this effort. A tax credit of up to $5,000 is available to moderate and low income DC first time buyers. 

Also many condo projects in the District qualify for 3.5% Down FHA financing.  FHA approved developments are available throughout the District including Adams Morgan, Columbia Heights and U Street.  Our team tracks these FHA approved projects and can help buyers identify the best opportunities in FHA approved developments.  

DC condo buyers can qualify for 3.5% down mortgages at FHA approved buildings.  This represents a major savings over the 20% of more down payments required for condos with conventional financing.

The FHA maintains a website with a list of FHA approved projects.  We have extrapolated that list for the Mount Vernon Triangle neighborhood and offer one-click access to all the available MLS listings in an FHA approved building.  If Mount Vernon Triangle isn't your neighborhood of choice, we have highlighted FHA approved buildings in other popular DC neighborhoods.

The FHA approval list changes routinely, these are selected Mount Vernon Triangle FHA approved developments at the time of this posting:

• City Vista
• Quincy Court
• The Whitman
• Yale Steam Laundry

DC condo buyers can qualify for 3.5% down mortgages at FHA approved buildings.  This represents a major savings over the 20% of more down payments required for condos with conventional financing.

The FHA maintains a website with a list of FHA approved projects.  We have extrapolated that list for the Columbia Heights neighborhood and offer one-click access to all the available MLS listings in FHA buildings.  If Columbia Heights isn't your neighborhood of choice, our site has detailed information about FHA buildings in other popular DC neighborhoods.

The FHA approval list changes routinely, these are selected Columbia Heights developments that are currently approved at the time of this posting:

Berkeley
Cityscape on Belmont
Embassy Condos
Flats at the Meridian
Kenyon Square
Lamont Street Lofts
Magdaline
Nova Vitalis
Solea
Vista Hill

DC condo buyers can qualify for 3.5% down mortgages at FHA approved buildings.  This represents a major savings over the 20% of more down payments required for condos with conventional financing.

The FHA maintains a website with a list of FHA approved projects.  We have extrapolated that list for the Adams Morgan neighborhood and offer one-click access to all the available MLS listings in an FHA approved building.  If Adams Morgan isn't your neighborhood of choice, check back as we will be highlighting FHA approved buildings in other neighborhoods over the next several days.

The FHA approval list changes routinely, these are selected Adams Morgan FHA approved developments at the time of this posting:

Balfour
Beekman Place
Erie
Kalorama Court
Park Tower
Viya

DC condo buyers can qualify for 3.5% down mortgages at FHA approved buildings.  This represents a major savings over the 20% of more down payments required for condos with conventional financing.

The FHA maintains a website with a list of FHA approved projects.  We have extrapolated that list for the Penn Quarter neighborhood and offer one-click access to all the available MLS listings in an FHA approved building.  If Penn Quarter isn't your neighborhood of choice, check back as we will be highlighting FHA approved buildings in other neighborhoods over the next several days.

The FHA approval list changes routinely, these are selected Penn Quarter FHA approved developments at the time of this posting:

• 400 Mass Ave
• 555 Mass Ave
• Madrigal Lofts
• Pennsylvania
• Ventana

DC condo buyers can qualify for 3.5% down mortgages at FHA approved buildings.  This represents a major savings over the 20% of more down payments required for condos with conventional financing.

The FHA maintains a website with a list of FHA approved projects.  We have extrapolated that list for the Capitol Hill neighborhood and offer one-click access to all the available MLS listings in an FHA approved building.  If the Capitol Hill isn't your neighborhood of choice, check back as we will be highlighting FHA approved buildings in other neighborhoods over the next several days.

The FHA approval list changes routinely, these are selected Capitol Hill FHA approved developments at the time of this posting:

• Car Barn
• Iridium
• Jenkins Row
• Landmark Lofts
• Logan School
• Lovejoy Lofts

DC condo buyers can qualify for 3.5% down mortgages at FHA approved buildings.  This represents a major savings over the 20% of more down payments required for condos with conventional financing.

The FHA maintains a website with a list of FHA approved projects.  We have extrapolated that list for the U Street Corridor and offer one-click access to all the available MLS listings in an FHA approved building.  If the U Street Corridor isn't your neighborhood of choice, check back as we will be highlighting FHA approved buildings in other neighborhoods over the next several days.

The FHA approval list changes routinely, these are selected U Street Corridor FHA approved developments at the time of this posting:

• 1407 W
• Flats at Union Row
• Floridian
• Lacey
• Lincoln Condominium
• Rhapsody
• Warehouses at Union Row

DC condo buyers can qualify for 3.5% down mortgages at FHA approved buildings.  This represents a major savings over the 20% of more down payments required for condos with conventional financing.

The FHA maintains a website with a list of FHA approved projects.  We have extrapolated that list for the Dupont Circle neighborhood and offer one-click access to all the available MLS listings in an FHA approved building.  If Dupont Circle isn't your neighborhood of choice, check back as we will be highlighting FHA approved buildings in other neighborhoods over the next several days.

The FHA approval list changes routinely, these are selected Dupont Circle FHA approved developments at the time of this posting:

• Chateau Thierry
• Concord
• Dupont East
• Haddon
• Pierre
• Portsmouth
• Richmond
• Roydon
• St George

 photo courtesy of Flickr user thisisbossi

DC condo buyers can qualify for 3.5% down mortgages at FHA approved buildings.  This represents a major savings over the 20% of more down payments required for condos with conventional financing.

The FHA maintains a website with a list of FHA approved projects.  We have extrapolated that list for the Logan Circle neighborhood and offer 1-click access to all the available MLS listings in FHA approved buildings.  If Logan Circle isn't your neighborhood of choice, check back as we will be highlighting FHA approved buildings in other neighborhoods over the next several days.

The FHA approval list changes routinely, these are selected Logan Circle developments that are currently approved at the time of this posting:

• 1225 Lofts
• 1441 Rhode Island
• Berrett School Lofts
• Bishops Gate
• Citta 50
• Downtown I + II
• Empire Lofts
• Fennessy Lofts
• Fremont
• Grant
• Logan Court
• Logan Park
• Metropole
• New Plaza
• Providence
• Renaissance at Logan
• Town Terrace East
• Ventura