Photo courtesy of redjoe
On the heels of the latest Case-Shiller report, which revealed price gains across the country, Trulia Trends dug into data to see if there are any specific places, within metro areas, where prices are rising the fastest.
Trulia found that home prices in urban neighborhoods appear to be gaining faster than their suburban counterparts, which shouldn’t come as much of a surprise. Throughout the country, the median price per square foot was up 11.3 percent year-over-year in urban neighborhoods, and up 10.2 percent in suburban neighborhoods. In the DC area, urban home prices rose 7.7 percent this year, compared to 6.8 percent in the suburbs.
From there, Trulia found a few more interesting trends. Home prices in racially and ethnically diverse neighborhoods, where no group had the majority, rose faster than the average, increasing by 14.3 percent annually. And in so-called “gayborhoods,” prices rose fast as well. In neighborhoods where more than 1 percent of the population consists of same-sex male couples, prices increased by 13.8 percent, while neighborhoods where more than 1 percent of the population are same-sex female couples, home prices rose 16.5 percent.
Though we don’t have the specific numbers for DC, in an earlier article, we reported that male couples made up 3.3 percent of the population in Dupont Circle and Logan Circle, while Takoma Park, MD had a statistically higher number of female couples.
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This article originally published at http://dc.urbanturf.com/articles/blog/biggest_price_gains_in_diverse_urban_neighborhoods_and_gayborhoods/7244
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