Dupont Circle:
For Those With Money and Style

• September 3, 2008
• 3 Comments
• Neighborhoods

by Mark Wellborn

Borders: 16th Street, L Street, 24th Street, T Street
ZIP code(s): 20036, 20037
Pricing data: Dupont Circle real estate (Redfin)
Map: Click here for interactive Google Map

Click photo for full slideshow

Dupont Circle by Raymond Fudge

It is arguable that, if money were no object, young adults moving to DC would always choose to live in Dupont Circle. It boasts some of the city’s best restaurants, shops and bars, and its central location makes it the most convenient DC neighborhood for anyone working downtown. Its reputation as the preferred habitat for the wealthy diplomatic set has only bolstered its cosmopolitan standing.

Unfortunately, you need money to live in Dupont. Home prices are the second highest in DC just behind Georgetown, and those great shops and restaurants mentioned above are not cheap.

Demographics

The median household income in Dupont Circle is approximately $68,000 and almost 40 percent of the population is between the ages of 25 and 34, according to the Washington DC Economic Partnership. Dupont Circle has historically been home to a large contingent of DC’s gay population, although there has been an exodus east in recent years toward the Logan Circle neighborhood as a result of escalating rents and home prices.

Property Prices

The median list price for a single-family home in Dupont Circle is currently $1.19 million, according to Redfin. However, the median list price for a condo in the area is much lower ($394,000). The properties that we profile below are representative of this disparity.

There is a one-bedroom condo currently on the market at 1701 16th Street for $359,900. The living room in the property is spacious, but in need of a paint job, and there are views of the Washington Monument and downtown. There is a dining nook off the living room, and the building has a rooftop deck and a 24-hour fitness center. For the full listing, click here.

There is a single-family row house in the heart of Dupont at 1313 22nd Street listed for $1.19 million. The four-bedroom, 2.5 bath property has been completely renovated and has a finished basement, Viking appliances, and a large outdoor patio space for entertaining. But the best thing about the home is that the listing price includes two parking spaces. For the full listing, click here.

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Artist in Dupont Circle by MVI

Market Fundamentals

The center of the Dupont Circle neighborhood is the traffic circle located at the intersection of Massachusetts Avenue, Connecticut Avenue, New Hampshire Avenue, P Street, and 19th Street. The streets that shoot off from the circle are lined with the Victorian, Art Deco and Federal townhouses that have made the area famous. However the days when these properties served as single-family homes have come and gone, and many have been converted into condominiums. Also, since 2001, over 160 major developments have been built in the Dupont Circle area and almost 5,700 residential units have been put on the market, according to the DC Economic Partnership.

Paul Cizek, a realtor familiar with the area, noted that the condo market has seen its ups and downs as a result of this influx of production. 

“The excessive condo inventory that emerged in 2004 caused prices to drop dramatically,” Cizek told UrbanTurf. “Builders reacted by halting projects which allowed for inventory to level out and we are now seeing those stalled projects being completed. Since 2006, overall pricing has remained strong in the area.”
Dupont has developed a reputation as a neighborhood that is immune from the housing crisis. Much like Manhattan, property values have remained steady if not increased over the past couple years.

“While the District has been slightly insulated from a lot of the recent ‘meltdown,’ you could almost say that Dupont is wrapped in its own little cloud,” Heather Elbert of the Eng Garcia Group said. “Being in the heart of the city, within walking distance to Metro, shopping and nightlife can really help ease the hardworking mentality of Washingtonians, and there is a premium for this style of living.”

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Dupont Row Houses by Raymond Fudge

Insider Tips

Like most neighborhoods, residents pay a premium to live close to mass transit in Dupont Circle, and most properties are just a short walk from the Dupont Circle red line station. However, a number of area brokers indicated to UrbanTurf that proximity to the Whole Foods Market, that sits just outside the Dupont boundaries on 14th and P Streets, is also becoming a factor in a property’s price tag. 

The renaissance of neighborhoods like Logan Circle and U Street have had a nice effect on Dupont Circle. Properties in Dupont that border these up and coming zip codes have seen a bump in value in the last few years, and there are several mid-rise condo projects scheduled to be built along the boundary over the next two years. 

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Kramerbooks & Afterwords by Raymond Fudge

Parking & Transportation

Finding street parking in Dupont Circle is like trying to find Gilbert Arenas in uniform during the NBA regular season: very difficult. Making matters worse, the prices for private parking spaces in Dupont average $50,000, some of the highest in the city.

The good thing about the neighborhood is that you don’t really need a car. WalkScore gave Dupont a score of 98, its highest rating for a DC neighborhood. You are never more than a ten-minute walk from the Dupont red line, and there a variety of bus routes that bisect the neighborhood heading downtown.

Bottom Line

Like Georgetown and Adams Morgan, Dupont Circle will be a safe place to invest for years to come. Its central location, historic properties and chic ambience have made it a household name for many who are unfamiliar with the DC area, and have protected it from the ongoing housing crisis.

Quick Answers

Noise Level
Pretty high, particularly on the weekends and along the main drags. But as in all neighborhoods, some streets are quieter than others.

Good Buildings to Live In
The Chastleton, Dupont Renaissance

Closest Grocery Store
Safeway, 1701 Corcoran Street NW

Neighborhood Picks

Best Place to Eat If You Found $300 on the Ground — Komi, 1509 17th Street NW
Best Bar to Get Lost In — The Science Club, 1136 19th Street NW
Best Place to Drink Every Beer Imaginable — Brickskeller, 1523 22nd Street NW
Best Place to Find a Fellow Intellectual at 1am — Kramerbooks & Afterwords, 1517 Connecticut Ave NW
Best Place to Get Mussels or Steak Frites — Bistrot du Coin, 1738 Connecticut Avenue NW
Best Area for Picturesque Row Houses — Intersection of 16th and Q Streets

Photos & Resources

• Historic Dupont Circle Main Streets — Website dedicated to preserving historic aspects of the neighborhood
• Dupont Circle Citizen’s Association — Association the promotes and protects the quality of life of Dupont Circle residents.

3 Comments

1. Mary Alice Wyatt said at 12:08 pm on Wednesday September 3, 2008:

   Mark - Really enjoy reading your articles.  Should be grading my freshmen’s first writing..but what the heck, it’s lunch and I need a break.  Especially like the clever “if you find $300 on the ground” tips on where to eat.. instead of just saying that the place is expensive.

1. David Alpert said at 2:15 pm on Wednesday September 3, 2008:

   Whole Foods is a great grocery store, but it’s not the closest grocery store (as you say in Quick Answers). The closest for most people is the Safeway, at 17th and Corcoran. There’s also a small Townhouse Safeway at 19th and S.

1. Mark Wellborn said at 3:15 pm on Wednesday September 3, 2008:

   Thanks, David. We have made the correction.

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