Housing costs in District of Columbia?
A typical home costs
$638,400, which is 88.8% more expensive than the national average of
$338,100 and 0.0% less expensive than the average District of Columbia home, at
$638,400. Renting a two-bedroom unit in District of Columbia costs
$1,840 per month, which is 28.7% more than the national average of
$1,430 and close to the state average of
$1,840.
Can I afford District of Columbia?
To live comfortably in District of Columbia, a minimum annual income of
$122,400 for a family, and
$64,800 for a single person is recommended.
What does A.I. say about District of Columbia?
The cost of living in the District of Columbia is significantly higher than most other states. According to a study published by the Economic Policy Institute, D.C. has the highest costs for groceries, housing, and transportation in the United States. The costs associated with rent and mortgages are particularly high due to strong demand for homes in the area. The median home price for a single-family home in D.C was $621,000 in 2018; this is almost twice as high as the national average of $306,400. Additionally, goods and services tend to be more expensive due to higher taxes on goods and services within D.C., making everyday items such as food, clothing and gasoline more expensive than other parts of the country.