The housing market in the District of Columbia State is highly competitive and expensive. The median value for a home in District of Columbia State is $638,400, which is far higher than the US median house value of $338,100. This high cost reflects the strong demand for housing in District of Columbia State and limited availability due to its small size. Additionally, while the overall US house appreciation rate was 8.27%, the one year house appreciation rate in District of Columbia State was -1.01%. Despite this decrease in value, homes are still relatively expensive and desirable in this state due to its proximity to Washington D.C., top universities, and other amenities.
The median home cost in District of Columbia is $638,400. Home appreciation the last 10 years has been 83.8%. Home Appreciation in District of Columbia is up 7.0%.
Average Age of Homes
- The median age of District of Columbia real estate is 65 years old
The Rental Market in District of Columbia
- Renters make up 51.9% of the District of Columbia population
- 4.0% of houses and apartments in District of Columbia, 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.