Under $400,000: DC's Five Cheapest Housing Markets

• August 4th 2017

by Nena Perry-Brown

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Much of UrbanTurf’s coverage in recent months has highlighted evidence of the pricey nature of the city housing market. Today, we take a look at the other side of the market, specifically the five least expensive zip codes in DC this year.

The two zip codes with the lowest home prices in the city this year are 20032, which primarily covers the Congress Heights neighborhood, and 20019, which includes Deanwood and Marshall Heights. Prices in these zip codes are quite low for DC — the median sales price in both areas is $290,000 — but values have still appreciated notably in 20032, jumping 43 percent since last year.

The next-least expensive zip code is 20020, which is closely identified with Anacostia. Here, the median sales price of $306,550 has even led some buyers to purchase homes the day they hit the market. Still, a few houses in the neighborhood sold between $600,000 and $799,999 this year, and there is at least one active listing going for over $1 million.

As the chart above shows, while three of the least-expensive zip codes are East of the River, the other two are in areas of town that are known for their high density of older condominium and co-ops, which may be the only thing keeping prices relatively affordable.

20036, a small area that includes portions of Dupont Circle and Farragut North, is the fourth cheapest market for homes in DC. Both here and in the 20024 zip code that covers the Southwest Waterfront, over 60 percent of the units sold this year were condos/co-ops going for between $200,000 and $399,999. These zip codes have a notably higher median sales price than the three least-expensive, where the majority of listings sold are rowhouses.

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/under_40000_dcs_five_cheapest_housing_markets/12875.