DC Metro Area's June 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 most affluent metro area in the country, with a median income of $83,140 per household. Its three largest counties are Fairfax County, Montgomery County, and Prince George's County. The DC Metro Area market is mostly made up of detached homes, currently accounting for 66% overall. Leading the list of best schools in the metro area are Sunderland Elementary School, Thoreau Middle School, and Freedom High School.

Price Range

The DC Metro Area has some of the more expensive homes in the country with a median home value of $329,100 and a current average list price of $434,514. Falls Church City, Arlington County, and Fairfax County are the costliest places in the metro area. In this week's report, the number of homes sold in the DC Metro Area market fell to 8,291 over the past 30 days, but still above the monthly average.

Typical Dwelling

A four-bedroom detached home valued around $532,005 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 $106,401 cash down payment to get a mortgage with a 3.95% interest rate. The monthly payments would be $1,954 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 6/15/2017


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