Redfin recently released a report on the economic diversity of the nation’s major cities using 2014 city-specific median family income data from the American Community Survey. Washington, D.C. was ranked as the no. 3 best city for a balanced mix, with 30 percent of its neighborhoods with balanced economic diversity.
The report determined purchasing power as a 20 percent down payment on a 30-year fixed-rate mortgage at 4 percent. Monthly family income going toward a mortgage was measured at 28 percent.
Redfin measured home price mix by summarizing a 500-meter grid, which were then classified as one of three categories: mix of affordable and high-end homes, high-end homes and affordable homes.
What’s the economic breakdown of Washington, D.C. neighborhoods?
|Columbia Heights||100%||The Palisades||100%||Fort Davis||100%|
|West End||100%||Spring Valley||92%||River Terrace-Lily
Morgan / Kalorama Heights / Lanier Heights
|Barney Circle||85%||West Village (Georgetown)||81%|
According to the data, 10 percent of neighborhoods in DC are considered high-end and 45 percent are affordable.