Since 2000, Home Values in DC and Its Suburbs Have Gone Opposite Ways
Median home values in the DC area since 2000
Although it may be commonly understood that the trend in the U.S. of flight from cities to the suburbs has reversed over the past decade, Zillow has published a study that shows just how that shift is illustrated by the DC metropolitan housing market.
Throughout the 1980s and 1990s, DC proper was known for being a drug trade haven, having a failing school system, and occasionally earning the “Murder Capital” moniker — an important context to keep in mind when noting that the median home value in the District was $136,200 when George W. Bush took office in 2000.
At that same time, homes in the suburbs inside and just outside the Beltway had a respective median value 14 and 17 percent higher than the DC proper price. Sixteen years later, the value of homes in DC outstrips those in the inner-Beltway suburbs by 27 percent. The gap is far wider in the outer-Beltway suburbs, where home values are 44 percent lower than in the District. Since December 2013, home values in DC have grown by an average of 9 percent annually — more than double the annual average growth in the DC suburbs.
story continues below
loading...story continues above
DC’s Northeast and Southwest quadrants have especially exemplified this turn-around, as they have historically been less-affluent but have seen the greatest rise in housing values within the city since 2012. Focused efforts toward developing and marketing the Union Market and (re-branded) NoMa areas in NE and the area around Nationals Stadium in SW have spurred much of the demand and desirability in those quadrants.
Homes values in Northwest DC, which has always contained the city’s most tony neighborhoods, remained relatively stable throughout the crash of the housing market in 2008 and have appreciated in value since. Southeast has not been exempt from the rising tide of home value appreciation across the city, albeit to a lesser extent than elsewhere.
For the full Zillow study, click here.
See other articles related to: dc area market trends, dc home prices, dc housing prices, zillow
This article originally published at https://dc.urbanturf.com/articles/blog/since_bush_administration_home_values_in_the_dc_suburbs_have_been_bush_leag/11575.
Most Popular... This Week • Last 30 Days • Ever
Roadside Development filed a sketch plan with Montgomery County this month for the 30... read »
The Matthew is located on 9th Street, overlooking the iconic Naylor Court and neighbo... read »
Construction continues humming along on several developments on the uppermost stretch... read »
Today, we take a closer look at home insurance.... read »
Unlike other new residential developments in the city, all of the apartments will be ... read »
- A First Look At The 525-Unit Development That Will Incorporate Silver Spring's Tastee Diner
- Nine Stylish Condominiums Debut in Shaw's Iconic Naylor Court
- The 1,600 Units In The Walter Reed/Takoma Development Pipeline
- A Look at What is Covered By Home Insurance
- 8-Unit Project + Restaurant Proposed Along Georgetown Canal
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro