State: District of Columbia
The Washington D.C. - Northern Virginia real estate market is listed as one of the U.S. markets to watch in the Emerging Trends in Real Estate 2022 report. That’s because Washington, D.C., is an established, stable real estate market experiencing low inventory and high demand. In fact, D.C. real estate is staying hot despite rising interest rates.
According to Realtor, homes for sale in Washington DC have a median listing price of $552 per square foot with a median sale price of $600,000. The median rent is $2,510 per month.
Washington, D.C., is our nation’s capital. It has always been an economic leader with a robust real estate market that presents tremendous investment opportunities for real estate investors.
Think of Washington D.C. real estate, and you’re likely to envision the White House, Capitol Hill, or the National Mall. But there’s more to the District of Columbia than monuments and political offices.
D.C. real estate is diverse and has a lot to offer real estate investors. You can find everything from single-family homes to row houses and new construction to renovated historic homes in the District of Columbia’s property listings.
The DC area is home to some great neighborhoods and suburbs for real estate investors. These include Alexandria, Anacostia, Arlington, Brookland, and Congress Heights.
Washington, D.C., has a solid rental market. Over 57% of households in the D.C. area are renter-occupied.
Zillow reports that home prices in the D.C. area are appreciating at a rate of 5.6% year-over-year.
The demand for rental properties, combined with the market stability and appreciation, make Washington DC real estate an excellent prospect for real estate investors and property management companies.
As the nation’s capital, Washington, D.C., has always had a robust and stable economy. It’s home to the federal government, over 180 foreign embassies, and global trade and policy organizations.
Aside from the federal government, the primary industries in the Washington D.C. area are financial services, trade, hospitality, and tourism.
Washington, D.C., is a global financial center because of its high concentration of banks and financial institutions. It’s ranked ahead of Boston and Chicago.
Many Fortune 500 companies are headquartered in the Washington DC area. These include Fannie Mae, Lockheed-Martin, Freddie Mac, General Dynamics, Capital One Financial, and Booz Allen Hamilton. Amazon also has its second headquarters (HQ2) in Arlington.
These employers and industries fuel the city’s economy and provide well-paying jobs that help drive Washington, D.C.’s growth.