Zillow breaks down how affordability and incomes match up in Washington DC.
Washington D.C. Metro Highlights:
- The median income is $93,382.
- 17.2 percent of income is spent on a monthly mortgage payment, and 27.2 percent is spent on rent.
- A 20 percent down payment on a median-valued home would require a potential buyer to have saved $71,060.
- The ZHVI (Zillow Home Value Index) fell by 0.6 percent over the past year, to $355,300.
District of Columbia residential real estate highlights, home prices, and rental data from Zillow in December 2015:
District of Columbia median listing prices and median price-per-square-foot for all home types:
- All homes: $489,000 at $459/SF
- Single-family residential homes: $549,900 at $373/SF
- Condos: $469,775 at $491/SF
- Duplex and Triplex units: $699,000 at $368/SF
- 1-Bedroom homes: $359,900 at $509/SF
- 2-Bedroom homes: $509,900 at $479/SF
- 3-Bedroom homes: $569,250 at $399/SF
- 4-Bedroom homes: $700,000 at $381/SF
- 5+ Bedroom homes: $1,499,900 at $504/SF
District of Columbia median rental prices and median rental price-per-square-foot:
- All homes: $2,500 at $2.80/SF
- Single-family residential: $2,800 at $2.04/SF
- Condos: $2,450 at $2.96/SF
- Duplex and Triplex units: $2,204 at $3.09/SF
- Multi-family residential: $2,250 at $3.03/SF
- 1-Bedroom homes: $2,150 at $3.13/SF
- 2-Bedroom homes: $2,907 at $2.83/SF
- 3-Bedroom homes: $2,900 at $2.11/SF
- 4-Bedroom homes: $2,850 at $1.69/SF
District of Columbia median sales prices and price-per-square-foot:
- All homes: $543,350 at $513/SF
- Single-family residential: $416/SF
- Condos: $534/SF
District of Columbia homes sold for a gain or loss:
- 93.9% of all homes sold above the previous home price
- 6.1% of all homes sold below the previous home price
- 11.4% of all listings had a price reduction this month with a median price cut of 3.7% (approximately $17,500)
- 12.% of all single-family residential home listings had a price reduction this month with a median price cut of 4.1% (approximately $22,925)
- 11.1% of all condo listings had a price reduction this month with a median price cut of 3.4% (approximately $14,000)
5.4% of all homes in District of Columbia sold in the past 12 months.
The ZHVI (Zillow Home Value Index) rose by 5.7% over the past year to $497,800.
Note: If any of the data is currently undisclosed, that is because the local jurisdictions currently do not share that data with Zillow.