Washington, DC is an expensive place to live, with the median value of a home being $644,900. This is significantly higher than the US house median value of $338,100. Although the US housing market has had an appreciation rate of 8.27%, Washington, DC's appreciation rate for the past year has been much lower at 3.59%. Despite these lower rates of appreciation in DC, housing prices remain at a premium due to the city's appeal and popularity as a destination for tourists and professionals alike.
The median home cost in Washington is $644,900. Home appreciation the last 10 years has been 83.8%. Home Appreciation in Washington is up 7.0%.
Average Age of Homes
- The median age of Washington real estate is 65 years old
The Rental Market in Washington
- Renters make up 51.9% of the Washington population
- 4.0% of houses and apartments in Washington, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.