The Washington DC real estate market is one of the fastest-growing and thriving markets in the nation. While many areas saw plummeting home values after the housing market crash in 2008, DC homes have gone from strength to strength. The city is seeing a huge influx of young, professional buyers. The median income for these young professionals tops $100,000, nearly twice the national average. With this inflow of wealthy buyers, many areas that once languished in crime and poverty are experiencing a renaissance. Gentrification is taking place in many neighborhoods, driven by the new buyers’ desire for good access to the Metro and a lifestyle geared for walkability.
Find Beautiful DC Homes, Both Historic and New Construction
The northeast quadrant, once known mostly for blight, is home to some of the hottest Washington DC real estate. Neighborhoods including Trinidad, U Street, H Street, and Ledroite Park are all flooded with young millennial buyers. While the newcomers are mostly white, the DC area has a large black middle class population of professionals. The region also has a lower unemployment rate for all racial categories than the national average.
All this energy is translating into a population expansion for the first time in 50 years. The current population is over 670,000. Between 2010 and 2015, 70,000 people moved to DC. In addition to renovating older Victorian homes, bungalows and row houses, there is a lot of new construction. Anyone considering a move to DC has a lot of choices for the right house.
Start a DC home search and call our office to set up a tour of the up and coming neighborhoods.