Washington DC Apartments for Rent - Economy

Washington, D.C. has a growing economy that is also diversifying with a decreasing percentage of federal government jobs over the current and next decade and an increasing percentage of professional and business service jobs over the same period - and now is the perfect time to look for Washington DC apartments for rent. With five Fortune 1000 companies (two of which are also Fortune 500 companies),[30] and a large support infrastructure of professional services, including law, public relations, and architecture, Washington, D.C. is one of the Gamma World Cities.[31] Washington, D.C. is also a leading city for global real estate investment, behind London, New York City, and Paris.

As of 2002, the federal government accounts for 27% of Washington, D.C.'s jobs.[34] The presence of many major government agencies, including the Department of Defense, National Institutes of Health, and the Food and Drug Administration, has led to business development both in the District itself as well as in the National Capital Region of Maryland and especially northern Virginia[2]. These businesses include federal contractors (defense and civilian), numerous nonprofit organizations, law firms and lobbying firms, national associations of labor and professional groups, catering and administrative services companies, and several other industries that are sustained by the economic presence of the federal government. This arrangement makes the Washington economy virtually recession-proof relative to the rest of the country, because the federal government will still operate no matter the state of the general economy, and it often grows during recessions.

The gross state product of the District in 2006 was $87.664 billion, ranking it #35 when compared with the fifty states.[35] In 2006, Expansion Magazine ranked DC among the top 10 metropolitan areas in the nation for climates favorable to business expansion.[36] In terms of commercial office space, Washington, D.C. has the 3rd largest downtown in America, only behind New York City and Chicago respectively.[37]

Of non-government employers, Washington, D.C.'s major universities and hospitals are among the top employers with the George Washington University, Georgetown University and Washington Hospital Center as the top three. When looking for Georgetown Law Housing, a good place to start is Craigslist. Howard University and Fannie Mae round out the top five employers in Washington, D.C.[38]

Washington is also a global media center. Most major news outlets have bureaus in the city and Washington is home to Black Entertainment Television, C-SPAN, National Public Radio, the Washington Post Company and XM Satellite Radio. Washington's unique scenery makes it a popular location for film and television production - and now is a great time to move to the city, so start searching for Washington DC apartments for rent!