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

• March 28, 2013
• 2 Comments

by UrbanTurf Staff

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:

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.

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

2 Comments

1. Liz said at 2:21 pm on Friday March 29, 2013:
   There are hardly any condo buildings in the SE Riverfront area, not many options unforunately. All that seems to be getting funding at the moment and the only projects coming down the pipeline in that area seem to be apartements. DC is booming with apartments- but no condos! grrr....

1. MB said at 7:25 pm on Friday March 29, 2013:
   As an otherwise happy resident of this neighborhood that has rented for far too long already, I share your frustration, Liz! Capitol Quarter townhouses or Velocity condos are the only non-rental apartment options in the very immediate area. There needs to be a better balance of condos/houses to apartments, or people like me who are looking to buy will have to look elsewhere. A sustainable neighborhood would be developed to attract permanent residents (not just temporary ones), who are engines for improvements that would benefit the larger community. The only other condo project contemplated in the area is Factory 202, which may be reconsidered, and in any event, is years away from construction. Developers and city planners should know that there's a lot of latent demand out there for non-rental housing in the ballpark area: if you build it, they will come.