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The Rise Of DC's $2 Million Neighborhood

  • August 7th

by UrbanTurf Staff

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Rendering of an under-construction home in Kent.

A few years ago, no neighborhood in DC had a median home price that exceeded $2 million. Now, there a number of areas where that benchmark is becoming common. 

Five upper NW DC neighborhoods currently carry median home prices of $2 million or higher. Back in 2018, there was just one neighborhood where the median price was approaching $1.9 million, according to Bright MLS data. 

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Click to enlarge.

UrbanTurf believes there are two reasons for these neighborhoods eclipsing the $2 million mark: a very limited number of homes for sale, as well as an increasing supply of new construction single-family homes that are asking very high prices. Currently in Kent and Spring Valley, there are at least ten homes in the works with price tags north of $5 million.

While home prices are projected to level off and potentially even drop in the region over the coming 12 months, UrbanTurf wouldn't be surprised if some new names were added to the list above in 2026. Just missing inclusion this time around are Georgetown and Woodley Park with median prices hovering around $1.9 million. 

See other articles related to: $2 million dc neighborhoods, luxury real estate dc

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/the_rise_of_dcs_2_million_neighborhood/23763.

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