loading...

Rent vs. Buy: West End

by Michele Lerner

Plenty of rent-versus-own calculators are available online to do a purely numbers-driven evaluation of whether you should buy a home or rent one. (The New York Times has a particularly good one.) But, as most buyers in search of a new home know, the decision to buy a home is not purely financial. It requires a long-term commitment to a property and a neighborhood. UrbanTurf will work its way through the neighborhoods of the city to gather estimates of rent and home prices as well as the distinctive characteristics of each community. This week, we visit West End.

image
The Ritz-Carlton Residences

The Neighborhood

Tucked between Georgetown, Foggy Bottom and Dupont Circle, West End is a high-rent neighborhood that has become a prime habitat for the downtown employee who does not want a long commute to work. The area is bordered by Rock Creek Park, K Street and Washington Circle, New Hampshire Avenue and 21st Street. Residents can walk to the White House, the State Department, the World Bank and offices along K Street. West End is home to some of the highest-end residential developments in the city, including the Ritz-Carlton Hotel and Residences, which opened in 2000, as well as Columbia Condominiums and 22West, each luxury condo developments with distinctive architecture. In addition to a number of restaurants and cafes, the neighborhood also has a Trader Joe’s grocery store that residents from neighboring zip codes flock to.

To Buy…

Realtor Michele Wiltse with Lindsay Reishman Real Estate says housing in West End is primarily found in mixed-use buildings, all-condo buildings and some smaller row houses.

“Prices for condos in West End have a very broad range,” Wiltse told UrbanTurf. “One-bedroom condos range from $350,000 to $1.2 million, while two-bedrooms run from $450,000 to over $2 million.”

Currently on the market on the lower end of the one-bedroom range is a one-bed-plus-den condo at 1111 25th Street NW listed for $450,000. The unit is about 800 square feet and the building has a fitness center, 24-hour doorman and a parking garage. Monthly payments for this home are estimated at $2,400 a month with a 20 percent down payment of $90,000 (assuming a 30-year mortgage at 5 percent).

A two-bedroom, 2.5-bath duplex condo in Westminster Court is listed at $619,000. This home is a top-floor unit with garage parking, hardwood flooring, a balcony, skylights, stainless steel appliances, a bay window and a fireplace. Monthly payments are estimated at $3,088 including a condo fee of $388, after a 20 percent down payment of $124,000.

image
22 West

…Or To Rent?

Rents in West End are among the most expensive in the city. One-bedroom apartments average about $2,925 per month with a smattering of $2,000-per-month units available; two-bedrooms average $4,300.

The Verdict

If you can afford it, our recommendation would be to buy. The rents are absurdly high in West End, and the mortgage payments on many of the one and two-bedroom condos in the neighborhood would be less than renting similarly sized apartments in the area. Unless, of course, you are in the mood to drop over $1 million. But if you are in that category, you don’t even need our advice.

See other articles related to: west end, rent vs buy, dclofts, 22 west

This article originally published at https://dc.urbanturf.com/articles/blog/rent_vs._buy_west_end/1917

2 Comments

  1. mary said at 2:40 pm on Friday March 26, 2010:

    An interesting story on renting in the DC area, tune in tonight on your local NBC News4 at 5.

    RENTING
    Looking for a place to lease in the Washington area?  Prepare to pay.  How does DC rank among other metropolitan areas?  More on this tonight on News4 at 5.

  1. jake said at 1:23 pm on Saturday March 27, 2010:

    Sell! West End is boring as hell

Comments are closed.

DC Real Estate Guides

Short guides to navigating the DC-area real estate market

We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!

Northern Virginia

Profiles of 14 neighborhoods across Northern Virginia

Ballston
Looking to Give People A Reason to Stay Past 6pm
Clarendon
Happily Straddling the Line Between City and Suburb
Columbia Pike
Arlington’s Neglected Stepchild is Getting a Makeover
Crystal City
Turning Lemons into Lemonade
Lyon Village
Developing An Air of Exclusivity?
Rosslyn
Hitting Its Growth Spurt
Shirlington
An Urban Village Hitting Its Stride
Del Ray
Virginia’s Small Town Near the Big City
Eisenhower Avenue
The Vibrancy Might Take a Few Years
Huntington
The Quiet Neighborhood By the Beltway
Old Town
Mayberry By The Potomac
Parkfairfax
132 Commerical-Free Acres
Downtown Falls Church
Staying the Same in the Midst of Change
Tysons Corner
Radical Change Could Be On The Way

See more Northern Virginia »

Maryland

Profiles of 14 neighborhoods in suburban Maryland

Annapolis
Small-Town Living in the State Capital
Bethesda
Bedroom Community Gets Buzzing Cache
Cabin John
In With The New While Maintaining the Old
Chevy Chase
Affluence, Green Lawns and Pricey Homes
Downtown Silver Spring
Experiencing a Resurgence After a Bumpy History
Potomac
A Suburb on Steroids
Rockville Town Square
Despite the Dynamism, Still Somewhat Generic
Takoma Park
More Than a Little Bit Quirky
Wheaton
A Foodie Magnet on the Verge of Change
Capitol Heights
Kudzu, Front Porches and Crime
Hyattsville
Glass Half Full or Half Empty?
Mount Rainier
Artists, Affordable Homes and A Silo Full of Corn
National Harbor
A Development Rises Next to the Potomac
Riverdale Park
A Town Looking For Its Identity

See more Maryland »

Northwest DC

30+ neighborhood profiles for the city's biggest quadrant

16th Street Heights
DC's Sleeper Neighborhood
Bloomingdale
Where (Almost) Everyone Knows Your Name
AU Park
One of DC’s Last Frontiers Before the Suburbs
Brightwood
DC’s Northern Neighborhood on the Cusp
Burleith
DC’s 535 House Neighborhood
Cathedral Heights
Do You Know Where That Is?
Chevy Chase DC
Not to Be Confused With the Other Chevy Chase
Cleveland Park
Coming Back After A Rough Year
Columbia Heights
DC’s Most Diverse Neighborhood, But For How Long?
Crestwood
An Island of Serenity East of the Park
Dupont Circle
The Best of DC (For a Price)
Foggy Bottom & West End
Where the Institutional Meets the International
Forest Hills
Ambassadors and Adventurous Architecture
Foxhall Village
350 Homes Just West of Georgetown
Friendship Heights
A Shopping Mecca With a Few Places to Live
Georgetown
History, Hoyas and H&M
Glover Park
One of DC’s Preppier and More Family-Friendly Neighborhoods
Kalorama
A Posh View From Embassy Row
LeDroit Park
A Quiet Enclave in the Middle of the City
Logan Circle
Trendy Now, But Not By Accident
Mount Pleasant
Sought-After Homes Surround Main Street in Transition
Mount Vernon Triangle
From Seedy to Sought-After
Palisades
The Long, Skinny Neighborhood at the City’s Northwest Edge
Park View
It’s Not Petworth
Penn Quarter/Chinatown
DC’s Go-Go-Go Neighborhood
Petworth
Getting a Vibrancy of Its Own
Shaw
The Duke’s Former Stomping Ground
Shepherd Park
DC’s Garden of Diversity
Spring Valley
A Suburb With a DC Zip Code
Takoma
Not To Be Confused With Takoma Park
Tenleytown
Not Quite Like Its Neighbors
U Street Corridor
The Difference a Decade Makes
Woodley Park
Deceptively Residential
Adams Morgan
No Longer DC’s Hippest Neighborhood, But Still Loved by Residents

See more Northwest DC »

Southwest DC

The little quadrant that could

Southwest Waterfront
A Neighborhood Where A Change Is Gonna Come

See more Southwest DC »

Northeast DC

Profiles of 10 neighborhoods in NE

Brookland
New Development Could Shake Up Pastoral Peace
Deanwood
A Little Bit of Country Just Inside the District’s Borders
Eckington
Not to Be Confused With Bloomingdale
Fort Totten
Five Years Could Make a Big Difference
H Street
A Place To Party, and To Settle Down
Langdon
The Northeast Neighborhood That Few Know About
Michigan Park
A Newsletter-On-Your-Doorstep Community
NoMa
Evolving from a Brand to a Neighborhood
Rosedale
Ripe for Investment Right About Now
Trinidad
The Difference 5 Years Makes
Woodridge
Big Houses, A Dusty Commercial Strip and Potential

See more Northeast DC »

Southeast DC

6 neighborhoods from Capitol Hill to East of the River

Capitol Riverfront
Still Growing
Hill East
Capitol Hill’s Lesser Known Neighbor
Congress Heights
Gradually Rising
Hillcrest
Notable for Its Neighborliness
Historic Anacostia
Future Promise Breeds Cautious Optimism
Eastern Market
A More European Way of Living

See more Southeast DC »

Upcoming Seminars ▾