Washington DC, the nation’s capital, is an individual municipality, containing over 599,600 residents. It is the center of the federal government and home to government agencies, which employ thousands of people. Washington DC is situated on the Potomac River.
Over one million individuals work within the city, however, many reside in suburbs located within the bordering states of Maryland and Virginia. It is also home to colleges and universities, including George Washington University and American University. It is a beautiful city with many attractions, a vibrant culture, and an exciting night life. As a result, many people wish to reside within Washington DC. Washington DC real estate is generally above average in terms of price.
There are a variety of different neighborhoods within Washington DC, each of which vary significantly. There are expensive, high end neighborhoods, and there are impoverished neighborhoods, known for higher crime rates and lower standards of living. As a result, Washington real estate and associated prices range a great deal. The median cost of housing in Washington DC is slightly over $355,000, with the average asking price being roughly $684,000.
The most popular areas of Washington DC, including areas such as Georgetown and Dupont Circle are very expensive to live in. An individual may be required to pay well over one million dollars to obtain Washington DC real estate in these areas. Apartments are very common in Washington DC and may be a more suitable alternative to purchasing a home.
