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 economic diversity.

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?

Washington
DC
Balanced Mix Area High-end Area Affordable Area
Columbia Heights 100% The Palisades 100% Fort Davis 100%
West End 100% Spring Valley 92% River Terrace-Lily
Ponds-Mayfair
100%
Adams
Morgan / Kalorama Heights / Lanier Heights
92% Foxhall Crescent 87% Lamond-Riggs 100%
Petworth 88% Chevy Chase 85% Deanwood 100%
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.

 

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top