Quick facts: Washington, DC

Quick Facts

130.5
Cost of Living
above US average
671,803
Population
42.29
Crime Rate per 1000
above US average
$101,722
Median Income
above US average
$699,000
Median House Price
above US average
$3154.35
Average Rent
above US average
18%
Poverty Rate
above US average
6.3%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $101,722.

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Income Needed to Buy

βœ— Stretch
$219k/year
Based on $699,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $219k vs median $101,722
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Income Needed to Rent

⚠ Stretch
$135k/year
Based on $3154.35/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $135k vs median $101,722
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Washington, DC

Washington, D.C., the capital of the United States, is a vibrant city known for its rich history, diverse culture, and significant political influence. Home to all three branches of the federal government, the city boasts iconic landmarks like the White House, the Capitol Building, and the Supreme Court. Culturally, Washington, D.C. offers a wealth of museums, many of which are part of the Smithsonian Institution, including the National Museum of American History and the National Air and Space Museum. The National Mall serves as the city’s centerpiece, featuring monuments dedicated to presidents and war veterans, such as the Lincoln Memorial and the Washington Monument. The city’s neighborhoods, from the historic streets of Georgetown to the lively Adams Morgan, provide a blend of shopping, dining, and nightlife options. D.C. hosts an array of festivals and events throughout the year, celebrating its multicultural heritage. With a range of universities, including Georgetown University and George Washington University, the city has a youthful energy and focus on education. Overall, Washington, D.C. is a dynamic city that combines historical significance with contemporary culture, making it a unique place to visit or live.

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