DC Metro Area's September First-Time Homebuyer Report

The DC Metro Area is older the rest of USA, with a median age of 36. However, it happens to be the richest metro area in the country, with a median income of $83,140 per household. Fairfax County, Montgomery County, and Prince George's County are the three largest counties in terms of population. Detached homes account for 66% of the area's current housing market. 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 $429,611. The most expensive places to live are Falls Church City, Arlington County, and Fairfax County.

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

$799K   $1.8M   $9M  

Typical Dwelling

A four-bedroom detached home valued around $517,686 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 $103,537 cash down payment to get a mortgage with a 3.95% interest rate. The monthly payments would be $1,831 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 9/8/2016


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