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These days, finding an affordable place to live in the Washington area can be challenging. Home prices in Washington are now at a median cost of $468,832, lower than the District of Columbia average of $655,265.
The average cost of rent is $1,986/mo in Washington, primarily driven by the current value of real estate in the Washington area. While nearly 24.02% of residents own their homes outright in Washington, 30.95% rent.
Housing affordability isn’t just about home prices, though. The average household income in Washington is $10,187 per month. Households that rent pay about 19.50% of their income on rent here. Washington's most expensive areas are in the central regions, while the cheapest areas are in the southeastern parts of the city.
Nearby Cities
- Mount Rainier, MD: less expensive homes
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- Fort Myer, VA: higher priced homes
- Chillum, MD: less expensive homes
- Takoma Park, MD: equally priced homes
- Arlington, VA: higher priced homes
- Edmonston, MD: less expensive homes
Cities with Similar Populations
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- Vacaville, CA: higher priced homes
- Union City, NJ: less expensive homes
- Walnut Grove, AL: less expensive homes
- Walnut Creek, CA: higher priced homes
- Valparaiso, IN: less expensive homes
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