Housing costs in Washington?
A typical home costs
$1,284,400, which is 279.9% more expensive than the national average of
$338,100 and 101.2% more expensive than the average District of Columbia home, at
$638,400. Renting a two-bedroom unit in Washington costs
$1,820 per month, which is 1.1% cheaper than the national average of
$1,840 and close to the state average of
$1,820.
Can I afford Washington?
To live comfortably in Washington (zip 20015), District of Columbia, a minimum annual income of
$246,240 for a family, and
$64,000 for a single person is recommended.
What does A.I. say about Washington?
In 2015, the cost of living in Washington, DC was higher than the national average. According to a survey conducted by the Economic Policy Institute, it had a cost-of-living index of 122.7 in 2015. This means that goods and services were about 22.7% more expensive there than they were on average nationwide. Rent prices for both apartments and homes were also higher compared to other parts of the country, with the median rent for a one bedroom apartment at around $1,500 per month and median home prices standing at around $420,000. Additionally, utilities and transportation costs were slightly higher when compared to other cities due to the city's dense population and reliance on public transportation.