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DC's Central A/C Premium
For the last week in the DC area, the heat index has regularly eclipsed 100 degrees, a reality that makes central air conditioning an ever-more prized amenity in homes for sale. A new study from Zillow explores just how much of a premium central A/C commands around the country.
66 percent of homes sold in the U.S. in the past year had central A/C, with those homes selling at a $5,486 (or 2.5 percent) premium over homes without central air. In the DC area, 83.2 percent of homes sold in the past year had central A/C, carrying a $6,807 (or 1.7 percent) premium over homes that don't have it.
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For rental accommodations, the difference is much more negligible in the DC area, with 74 percent of rentals listed on Zillow including central air and renting for $15 (or .7 percent) more a month than rentals without.
Homes for sale in Las Vegas unsurprisingly have the highest A/C premium ($13,620), although 99 percent of listings for sale in the Nevada city have central air; Baltimore, interestingly enough, comes in second nationwide, with a premium of $12,055. On the rental side, the New York City metro has the highest A/C premium by far ($275); Boston has the second-highest at $171.
All the data for the report was culled from Zillow listings between June 1, 2017 and May 31, 2018, with square footage, age of home and the like controlled for; the median rents and listing prices of each subset (with or without A/C) were then compared.
See other articles related to: a/c, central air, zillow
This article originally published at https://dc.urbanturf.com/articles/blog/the-dc-area-ac-premium/14189.
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