The Georgetown Hillside project, with 27 planned units.
The Georgetown Business Improvement District (BID) released its annual State of Georgetown report Tuesday, and it’s chockfull of statistics that illustrate the exclusivity of the northwest neighborhood. Here are some of the more interesting highlights from the report:
- As if you needed more reinforcement of this fact, the neighborhood is home to a lot of wealthy young adults. Those between the ages of 25 and 34 living within a one-mile radius of Wisconsin Avenue and M Street NW (map) have an average of $80,400 in disposable income.
- The average household income within half a mile of that same intersection? $180,575.
- There are more than 100 residential units in the pipeline for Georgetown. Check out the unit breakdown here:
- Developers in Georgetown are getting a lot from their investment, however difficult it may be to build in the enclave. For new multi-family projects, they expect to get between $800 and $1,200 a square foot.
- The neighborhood is growing, though perhaps not shockingly fast; its population is expected to hit 15,100 by 2018, up from 14,500 in 2013.
This article originally published at http://dc.urbanturf.com/articles/blog/georgetowns_millennials_make_80400_in_disposable_income_and_other_new_stats/8596
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