What's Hot: The Last 75 Units Headed to the H Street Corridor | President Biden Expected to Extend Eviction Moratorium Through March
The Cost of Buying: Comparing Condo Purchases in DC vs. Arlington
Recently, UrbanTurf reader Navid Choudhury came to us with an intriguing request: help him determine the cost-of-living difference between buying a condo in DC versus Virginia. Choudhury was concerned that the significant difference in income tax (DC’s rate is 2.75% higher than Virginia) would make a big difference in his monthly budget. He was also weighing a few other variables, like the cost of food, owning a car, and property taxes.
So, we narrowed down the circumstances and went about crunching the numbers.
For our calculations, we compared two married couples living in two-bedroom condos, one in Clarendon and one in DC. We assumed that both offered a 20 percent down payment, and that the DC residents will live in walking or bicycling distance of work. Our income tax rates came from here, our property tax information for Virginia from here, and for DC from here. We also took into account the Homestead Exemption for DC residents, which lowers the assessed value of the home by $67,500 for tax purposes.
Here is what we found:

All told, it looks like a difference of about $10 a month. However, if we were to factor in bus and Metro transportation in DC, that would add $70-$80 in commuting costs, making DC more expensive. (We also didn’t consider that state income tax may be deducted from federal tax returns.) There are a couple other factors that would impact the final number, like differing insurance rates and the higher restaurant tax in DC. But for these hypothetical couples, the budget almost balances out.
See other articles related to: dclofts, dc versus arlington, dc condo prices, cost comparison, arlington condo prices, arlington
This article originally published at http://dc.urbanturf.com/articles/blog/the_cost_of_buying_comparing_life_with_a_condo_in_dc_vs._clarendon/5218
Most Popular... This Week • Last 30 Days • Ever

When Johnsie Walsh rented a unit in her Stanton Park apartment building, she had no i... read »

UrbanTurf has compiled virtual tours from large new developments around the DC region... read »

The massive new development would sit on a triangular parking lot at First Street and... read »

The draft environmental impact statement for the transportation project expected to g... read »

An analysis by UrbanTurf found that there were 15 neighborhoods in DC where the media... read »
- Obama, The Tenant: A Chat With The President's DC Landlord
- A Virtual Tour of More Than 30 DC-Area Developments
- Douglas Development Pitches 557-Unit Development Across From Dave Thomas Circle
- 300 MPH, 18 Million Riders: How the Maglev Might Impact Traffic and Transit in the DC Area
- DC Has Its Most Million-Dollar Neighborhoods on Record
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!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro
17 Comments