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

With a 16.4% increase over the last 10 years, the population of the DC Metro Area is growing slower than other parts of the country. Also, with 5,582,170 residents, it is the eighth-most populated metro area in USA. Fairfax County, Montgomery County, and Prince George's County are the three largest counties in terms of population. With a median age of 32 years, homes in the DC Metro Area tend to be relatively old. The best schools in the metro area are Takoma Park Elementary School, City Collegiate Pcs, and Ellington School of the Arts.

Price Range

Some of the more expensive homes in USA are in the DC Metro Area with a median home value of $329,100 and an average list price for available homes currently at $438,408.

Typical Dwelling

The typical dwelling in the DC Metro Area is a four-bedroom detached home worth about $529,655. To purchase a similar home, a buyer with good credit and a $105,931 cash down payment could obtain a mortgage with a 3.95% interest rate and a $1,926 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 5/11/2017


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Coldwell Banker Residential Brokerage
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