Cost of Living in Washington, DC
Housing
The housing market plays a significant role in determining the cost of living in Washington, DC.
- Housing Index: 140.0 / 100
- Median Home Price is: $679000
- Average Rent (2 BR Apartment): $3000 per month
- Average Rent (2 BR House): $3200 per month
If you're considering moving to Washington, DC, the housing landscape reflects a competitive market. With a housing index of 140.0, the median home price sits at an elevated 679000, indicating that homeownership may demand a substantial financial commitment. Renting appears costly as well, with averages of 3000 for a 2-bedroom apartment and 3200 for a 2-bedroom house. This suggests that budgeting is crucial, and potential buyers or renters should weigh the overall cost of living and market trends before making a decision. Keep in mind the local amenities and job opportunities that may also influence your choice.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Washington, DC.
- Electricity Price: $17.11 USD (median by state)
- Natural Gas Price: $18.41 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $250 per month
Living in Washington, DC could entail higher utility costs. Electricity costs sit at $17.11, while natural gas is priced at $18.41 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $250 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Washington is a financially viable option for your relocation.