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

The DC Metro Area has an older population than other areas in USA with a median age of 36 years. It also ranks as the eighth-wealthiest 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. The DC Metro Area market mostly consists of detached houses, accounting for 65% of the current homes in the area. The top schools in the metro area are Takoma Park Elementary School, Washington Latin Pcs, and School Without Walls Sr High School.

Culture

According to Foursquare, Great Falls Park and Burke Lake Park are the most popular outdoor attractions in DC Metro Area. If you like arts and entertainment, some popular spots are Steven F. Udvar-Hazy Center and AMC Tysons Corner 16. Lastly, Coastal Flats, Sweetwater Tavern, and Ozzie's Good Eats are well-known places to eat.

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 $433,040. The homes with the highest value are in Falls Church City, Arlington County, and Fairfax County.

Curious as to which homes have been getting the most attention in the DC Metro Area? These listings have stirred up interest and produced the most views:

$1.8M   $9M   $260K  

Typical Dwelling

The typical dwelling in the DC Metro Area is a four-bedroom detached home worth about $515,768. To purchase a similar home, a buyer with good credit and a $103,154 cash down payment could obtain a mortgage with a 3.95% interest rate and a $1,784 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 11/17/2016

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