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

Comments:

Ask a local expert about this area:
Snapped 617 homes in this area
Keller Williams Capital Properties
Snapped 40 homes in this area
Snapped 22 homes in this area

Agents that specialize in this area
417 snaps in this area
218 snaps in this area
200 snaps in this area
17 snaps in this area
114 snaps in this area
45 snaps in this area
55 snaps in this area
5 snaps in this area
15 snaps in this area
6 snaps in this area
©2017 Homesnap 1-800-431-5509 Housing market data, school data and demographic information is provided by SmartZip Analytics, Inc. ©2017 SmartZip Analytics, Inc. and ©2017 Fast Forward, Inc. Information is deemed reliable but not guaranteed. Sitemap Terms of Use Privacy Policy SmartZip Terms of Service
Sign-in with Facebook Sign-in with Twitter
or
I'm a real estate agent
Already a User? Sign In Below:

Sign In

Forgot Password? Click Here...

Sign-in with Facebook Sign-in with Twitter
or

Sign In

Forgot Password? Click Here...

Please enter the email address you used to register with Homesnap and an email will be sent with instructions for resetting your password.