District of Columbia housing market

What the numbers say

District of Columbia real estate at a glance

By AstroCore · Realtor.com, US Census and Freddie Mac data

Homeowners in District of Columbia pay a median of $4,312 a year in property taxes on a median home value of $737,100, an effective rate of about 0.58%.

Renters pay a median of $1,954 a month, and $2,083 for a two-bedroom. At today's prices a typical home costs about 31 times a year's rent, which generally favors renting over buying in the short term.

With 20% down and today's 7.24% average 30-year rate, the monthly payment on a $737,000 home here comes to about $4,685 including property tax and insurance. Lenders typically want that to be under 28% of income, which works out to roughly $201,000 a year (the median household here earns $109,870).