DC Metro Area First-Time Homebuyer Report for May

The population of the DC Metro Area is growing slower than the rest of USA, at a 10-year growth rate of 16.4%. However, it's already the eighth-most populous metro area in the country, with 5,582,170 residents. The three counties with the largest populations are Fairfax County, Montgomery County, and Prince George's County. With a median age of 32 years, homes in the DC Metro Area tend to be relatively old. The 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 $423,507.

Make sure you take a look at these eye-catching homes in the DC Metro Area that generated the most views from potential buyers:

$1.8M   $479K   $11.8M  

Typical Dwelling

The typical dwelling in the DC Metro Area is a four-bedroom detached home worth about $520,131. To purchase a similar home, a buyer with good credit and a $104,026 cash down payment could obtain a mortgage with a 3.79% interest rate and a $1,853 monthly payment. 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 5/26/2016


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