Housing costs in Washington?
A typical home costs
$688,800, which is 103.7% more expensive than the national average of
$338,100 and 7.9% more expensive than the average District of Columbia home, at
$638,400. Renting a two-bedroom unit in Washington costs
$1,770 per month, which is 3.8% cheaper than the national average of
$1,840 and 2.8% cheaper than the state average of
$1,820.
Can I afford Washington?
To live comfortably in Washington (zip 20319), District of Columbia, a minimum annual income of
$132,120 for a family, and
$62,400 for a single person is recommended.
What does A.I. say about Washington?
Washington, DC is an expensive city to live in. The cost of living index for the area is a whopping 145.4, which is well above the national average of 100. This means that many basic services such as groceries, housing, transportation, and health care are significantly more expensive here than in other parts of the country. Renting an apartment can easily cost upwards of $2,000 per month on average, while buying a home can easily reach into the millions. Groceries and other everyday items often cost more here as well due to the higher demand for goods in the city. Overall, life in Washington, DC can be quite costly and those looking to relocate to the area should plan their budgets accordingly.