April's First-Time Homebuyer Report for DC Metro Area

The DC Metro Area has one of the most prosperous populations in USA with a median income of $83,140 per household. On top of being ranked the richest metro area, its population is older than others with a median age of 36 years. The three counties with the largest populations are Fairfax County, Montgomery County, and Prince George's County. Detached homes account for 65% of the area's current housing market. Leading the list of top schools in the metro area are Takoma Park Elementary School, Washington Latin Pcs, and School Without Walls Sr High School.

Price Range

Homes in the DC Metro Area are generally more expensive than others in the country with a median home value of $329,100 and an average list price of $421,108. Falls Church City, Arlington County, and Fairfax County are the costliest places in the metro area.

Wonder which homes are generating the most buzz? Here are the most viewed listings in the DC Metro Area:

$1.8M   $11.8M   $489K  

Typical Dwelling

A four-bedroom detached home valued around $519,661 is considered a typical dwelling in the DC Metro Area. If a buyer was looking for a similar home, they would need good credit and a $103,932 cash down payment to get a mortgage with a 3.95% interest rate. The monthly payments would be $1,817 and the property tax rate is $11.04 per $1,000 of taxable assessed value.

Get started right now by checking out DC Metro Area homes for sale or reviewing DC Metro Area real estate trends.

Data reported through 4/21/2016


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