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@Dan, while I would agree that there is more supply needed in DTSS I am not certain that the way you collected your information nor the way you are interpreting it is really accurate. For example:

- When people are looking for an apartment the square footage matters, yes, but not sufficiently to compare residential units (as opposed to commercial) using this metric. All the buildings from the Veridian through to The Galaxy have very similar 2 bd units available but they vary as much as 100-200 sq. feet. The Galaxy's number even ends up a bit skewed because of a number of units that include a den;

I think a more apt comparison would be:
(a) a map showing walking distance from Metro and how that affects rents (one good reason why the Blairs is more than Summit Hills) and
(b) a comparison chart of what comes with rent in terms of amenities (the Solaire is right on top of Metro and has way more amenities than The Galaxy with slightly smaller units, hence the large difference in the rental rate)
(c) You also fail to account for what new buildings include inside a unit; 2bed 2bath instead of 2/1, or washer dryers in unit as compared to a laundry room. These items matter when someone is deciding where to live.

- Comparing the Solaire to Hillbrook Towers is very apples and oranges using both of my above metrics because of (a) distance from Metro, (b) in-unit amenities and (c) overall building amenities.
- Comparing Hillbrook to Summit Hills, however, is a better comparison because they are similar in age and distance from Metro (Hillbrook is closer by a little) but Summit Hills has much better on-site amenities (playgrounds, pool, fitness center, convenience store) which might explain the difference in price. Having visited Summit Hills compared to looking at the photos of Hillbrook I can also say that Summit looks a lot nicer, has more sunlight in its units, etc.

The bottom line is the question "how much will it cost me to rent a space that fits my needs?" Comparing square footage prices does not accurately tell us the options individuals and larger households have when answering that question as they move into Silver Spring.

by gooch on Jan 28, 2013 3:54 pm • linkreport

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