www.zillow.com/research/

APRIL2019 Washington Metro

National Rents

Current: $1,477Monthly Change: 0.2%Annual Change: 2.6%

Washington Metro Rents

Current: $2,176Monthly Change: 0.1%Annual Change: 2.2%

Breakeven Horizon3 years

Major Cities - Rents

WashingtonCurrent: $2,595Monthly Change: 0.1%Annual Change: 1.6%Breakeven Horizon: 4.1 years

Silver SpringCurrent: $2,236Monthly Change: 0%Annual Change: 2.2%Breakeven Horizon: 2.8 years

ArlingtonCurrent: $2,787Monthly Change: 0%Annual Change: 1.4%Breakeven Horizon: 4.8 years

WoodbridgeCurrent: $1,893Monthly Change: -0.1%Annual Change: 5.2%Breakeven Horizon: 2.6 years

FredericksburgCurrent: $1,624Monthly Change: 0.2%Annual Change: 2.9%Breakeven Horizon: 2.2 years

Esri, HERE, DeLorme, MapmyIndia, © OpenStreetMap contributors, and the GIS user community

City ZRI Year-over-Year-5.7% - -4.5% -4.4% - -2.4% -2.3% - -1.2% -1.1% - 0.0% 0.0% - 1.1% 1.2% - 2.3% 2.4% - 4.2% 4.3% - 7.7% 7.8% - 13.6%

Metro Cities: Top/Bottom by Annual Rent AppreciationTop:Jeffersonton 13.6%

Emmitsburg 9.6%

Amissville 7.7%

White Plains 7.1%

La Plata 6.8%

Bottom:Alexandria -5.7%

Dunkirk -5.7%

Travilah -5.4%

Sumerduck -4.5%

Potomac -3.5%

Metro Neighborhoods: Top/Bottom by Annual Rent AppreciationTop:Bellevue 14.4%

Fort Dupont 12.5%

Williamsburg 10.5%

NoMa 9.8%

Leeway 9.8%

Bottom:Northeast -15.2%

Old Town -15%

Braddock Road Metro -12.7%

Potomac West -11%

Eisenhower East -10.1%

How do we measure rents? To track rents, we use the Zillow Rent Index (ZRI). The

ZRI is the midpoint of estimated rents in a given region. Half the estimated rental prices

are above this number and half are below.

What is the Breakeven Horizon? The Breakeven Horizon in the number of years you

must live in a home before owning the same home becomes more financially advantageous

than renting the home. For example, if ’City X’ had a Breakeven Horizon of 5.5 years,

it is financially better for you to rent in ’City X’ unless you plan on living there for more

than 5.5 years.

APRIL2019

*Top cities and neighborhoods by size within the metro are listed. Additional counties, cities, neighborhoods and zip codes may be available online at

www.zillow.com/research/data or by emailing press@zillow.com

Zillow Research:Zillow R© is the leading real estate and rental marketplace dedicated to empowering consumers with data, inspiration and knowledge around the placethey call home, and connecting them with the best local professionals who can help. In addition, Zillow operates an industry-leading economics andanalytics bureau led by Zillow’s Chief Economist Dr. Svenja Gudell. Dr. Gudell and her team of economists and data analysts produce extensive housingdata and research covering more than 450 markets at Zillow Real Estate Research. Zillow also sponsors the quarterly Zillow Home Price ExpectationsSurvey, which asks more than 100 leading economists, real estate experts and investment and market strategists to predict the path of the Zillow HomeValue Index over the next five years. Zillow also sponsors the bi-annual Zillow Housing Confidence Index (ZHCI) which measures consumer confidence inlocal housing markets, both currently and over time. Launched in 2006, Zillow is owned and operated by Zillow Group (NASDAQ: Z), andheadquartered in Seattle.

www.zillow.com/research/

Largest Cities Covered by Zillow

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Alexandria 2,304 -5.7 2,300 1.9Annandale 3.6 2,519 1.2 2,400 1.6Arlington 4.8 2,787 1.4 2,600 2.2Ashburn 4.1 2,530 1.6 2,350 1.1Bethesda 5.9 3,362 -1.6 2,800 1.9Bowie 2.2 2,181 1.8 2,120 1.1Centreville 3.6 2,130 2 2,000 1.4Chantilly 3.8 2,460 0.7 2,300 1.1Fairfax 3.8 2,507 1 2,450 1.5Falls Church 3.7 2,447 0.5 2,300 1.8Frederick 2.3 1,737 1.7 1,700 1Fredericksburg 2.2 1,624 2.9 1,600 0.9Gaithersburg 3.3 2,056 1.6 2,120 1.3Germantown 2.4 1,864 0.6 1,750 1.3Herndon 4.4 2,436 -0.3 2,200 1.3

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Laurel 2.3 2,066 3.5 1,900 1.4Leesburg 3.1 2,405 2 2,400 1.1Manassas 3.1 1,941 0.5 1,800 1.2McLean 4.2 3,641 2.7 2,920 1.8North Bethesda 4.6 2,231 2.8 2,100 1.8Reston 4.8 2,213 0.9 2,000 1.6Rockville 4.9 2,352 3.7 2,380 1.6Silver Spring 2.8 2,236 2.2 2,100 1.6Springfield 3.6 2,425 1.1 2,400 1.6Stafford 2.5 1,956 2.8 1,900 0.8Sterling 3.2 2,161 1 2,200 1.3Vienna 4.9 3,157 2.1 3,100 1.6Waldorf 1.9 1,943 2.5 1,800 1.1Washington 4.1 2,595 1.6 2,650 2.3Woodbridge 2.6 1,893 5.2 1,880 1.3

Largest Neighborhoods Covered by Zillow

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Adams Morgan 5.9 2,592 0.2 2,400 3.1Alexandria West 1,895 6.7 1.8Ballston 6.3 2,459 2.3 2,600 2.6Bull Run 2.6 1,677 2.4 1.3Capitol Hill 4.4 2,856 -1.3 2,900 2.4Chevy Chase 6.3 4,013 1.5 2.2Columbia Heights 4.8 2,641 0.2 2,600 2.7Dupont Circle 5.6 2,367 0.4 2,400 3.6Foggy Bottom 4 2,206 1.3 2,200 3.6Georgetown 6.3 4,058 2.3 4,170 3.2

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Landmark 2,028 7 1.8Logan Circle 5.9 2,668 -0.7 2,900 3.4Mount Pleasant 6 2,921 0.6 2.2North Ridge 2,690 -9 1.8Petworth 2.7 2,774 3.5 2Potomac West 2,401 -11 2Seminary Hill 2,320 7.6 1.7Sixteenth Street Hei 3.1 2,890 1 1.9South Lakes Dr 4 2,086 2.6 1,950 1.6Washington Highlands 2,062 8.6 1.9