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DC’s Baseball “Neighborhood” One of the Most Expensive

  • March 28, 2013

by UrbanTurf Staff

DC's Baseball "Neighborhood" One of the Most Expensive: Figure 1

Trulia has determined that if you want to own a home near Nationals Park, “it’ll cost you.”

Just in time for opening day, the real estate website published a list of the most expensive baseball stadium neighborhoods for homebuyers. The median home price around Nationals Park put it at #4 in a top five that includes San Francisco, Boston, San Diego and Los Angeles.

Now, we usually agree with the lists that Trulia publishes, but we took issue with one aspect of their methodology. The website used median price per square foot for real estate stretching anywhere from 1-2 miles from the stadium. That means that the calculations would include portions of a number of other areas in DC, thus stretching the definition of “baseball stadium” neighborhood.

We reached out to Trulia’s chief economist Jed Kolko and it turns out that they changed their methodology for DC. Rather than a 1-2 mile radius, they used select data from the 20003 and 20024 zip codes when determining median home price around Nats Park.

Still, even if the area measured did not extend as far out as two miles, it would not be hard to believe that the area around the baseball stadium made it into the top five, given that virtually all of the residential real estate in that area is newish and thus commands a premium price point.

Here is a look at the most expensive and least expensive baseball stadium neighborhoods:

DC's Baseball "Neighborhood" One of the Most Expensive: Figure 2

Note: The final column in the table above is the ratio of stadium-area median price to metro median price. Values above 1 mean the stadium area is more expensive than the metro area overall.

See other articles related to: washington nationals, trulia, nationals park, editors choice

This article originally published at http://dc.urbanturf.com/articles/blog/dcs_baseball_neighborhood_one_of_the_most_expensive/6853

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