What's Hot: Mortgage Rates Fall Towards 6% Following Fed Cut
0 to 100: The DC Area Zip Codes on Opposite Ends of the Affordability Spectrum
✉️ Want to forward this article? Click here.
A new study from Trulia looks at zip codes around the country and home affordability based on median income, and the DC area offers some interesting results.
The zip codes inside the Beltway where all homes for sale are affordable to median wage-earning households ($100,000 a year) are all in Prince George's County. Interestingly, the zip codes where there are no affordable homes at the median salary level do not have million-dollar median home prices, but are neighborhoods in Montgomery County and northern Virginia which likely just have a higher barrier for entry, but fewer seven-figure outliers.
story continues below
loading...story continues above
This study identifies the DC-area median income as $100,000, and a median price was only deemed "affordable" if a house (with 20 percent down payment, 30-year fixed-rate mortgage, insurance and property taxes) cost less than 30 percent of the metrowide monthly median income. The median prices are based on April 2019 data, and the median incomes are from the 2017 American Community Survey.
See other articles related to: affordability, housing affordability, trulia
This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/0-to-100-the-dc-area-zip-codes-on-opposite-ends-of-the-affordability-spectr/15456.
Most Popular... This Week • Last 30 Days • Ever
Mortgage rate buydowns can be a good option for buyers who want to save money on inte... read »
Plans filed this week provide the latest look at the 106-key hotel in the works at an... read »
A plan to add another new residential building to the Friendship Heights pipeline is ... read »
The eight-bedroom, 35,000 square-foot home in McLean known as The Cliffs went under c... read »
The large new development would take the place of the Ballston One office building al... read »
- How Does a Mortgage Rate Buydown Work?
- A Look At Georgetown's New 100-Key Hotel Along The Canal
- Donohoe Files PUD For 127-Unit Development in Friendship Heights
- A $30 Million Sale? One Of The DC Area's Most Expensive Homes Finds A Buyer
- Updated Plans Filed For 328-Unit Development At Arlington Office Site
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro