Real Estate Relocation Guide To Washington D.C

Relocating from Chicago to Washington D.C is a major move. You’re crossing state lines and heading 700 miles to find a new home in a different community. By familiarizing yourself with the local real estate market, whether your destination is Penn Quarter or Park View you can get a good idea of the Washington D.C landscape and locate the best area for you and your family.

We’ll start with the big picture… Washington D.C has an estimated population of 581,500* and around 61 square miles of land. The total number of housing units is 282,900, of which about 114,500 are owner-occupied and 135,800 are inhabited by renters. Roughly 32,400, or 11.5 percent, of the residences in the state are vacant. The median home value in Washington D.C is $437,700 and the median household income is $51,847. For an idea of how this sizes up with national averages – the median home value in the U.S. is $185,200 and the median household income is $48,451.

Statewide figures provide a good overview of Washington D.C, but when you’re planning to relocate to the region, knowing what types of housing are available is the most important thing. So here’s a breakdown of what Washington D.C real estate has to offer…

About 2,370 homes in Washington D.C are new construction, developed in 2005 or after (another 9,650 were put up between 2000 and 2004). Washington D.C has its share of vintage charm as well with 107,400 residences built prior to 1940. The total number of detached, single-family houses across the state is 38,975, and there’s also a good selection of multi-unit residences and condos. Most homes have 1 bedrooms, but size varies greatly depending on where you look. And, in case you’re wondering about how your budget will pan out in Our Nation’s Capitol, monthly mortgage costs in [Alabama] generally hover between $1,000 and 2,000+.

Relocation Resources

No submissions in this category yet.

*All statistics are from the 2006 American Community Survey as shown on the U.S. Census Bureau website.
Sources: factfinder.census.gov and www.city-data.com