How much does it take to live comfortably in DC? To afford a median priced home, which is reported at $502,600, and live comfortably in Washington, D.C., residents must earn at least $85,000 annually. According to Finder.com, this salary requirement assumes you're able to put down a 20 percent deposit (roughly $100,000 for a median priced D.C. home), cover average per-person expenditures and pay off annual non-mortgage related household debt. If an individual is able to put down a 10 percent deposit, rather than 20 percent, then this salary requirement is even higher and makes homeownership and living comfortably harder to obtain. Of the 78 metros analyzed by the website, DC's salary requirement of $85,517 ranked as the fourth highest, trailing only San Francisco, San Jose and Los Angeles. A major contributing factor in DC's ranking is its average non-housing expenditure, which totals $45,366-- the highest expenditure figure of any metro analyzed. Unlike San Fran...
- D.C.'s salary requirement is only outdone by major California markets.
- D.C.'s average non-housing expenditures are the highest nationally.
- Buyers only able to put down a 10 percent deposit will have to earn $13,500 more annually.
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