Washington DC Real Estate Blog Recently posted or modified blog posts in the category - Demographicshttps://www.washingtondcrealestate.com/blog/Copyright WashingtonDCRealEstate.com2022-05-04T04:29:01-07:00tag:washingtondcrealestate.com,2012-09-20:12477Our Top 5 Family-Favorite Neighborhoods in DC<img src="https://assets.site-static.com/userfiles/755/image/american_university_park_600.jpg" width="600" height="400" />
Those considering making a move to the DC area have several exceptional neighborhoods to choose from. While some cater best to singles, couples and young professionals, there are also some neighborhoods in DC that are favored by families.
Georgetown
When it comes to some of DC’s best neighborhoods, <a href="https://www.washingtondcrealestate.com/georgetown-real-estate/" title="georgetown homes for sale">Georgetown</a> often tops the list. This family-friendly neighborhood offers high ranking schools, plus it’s also home to Georgetown University. In addition, there’s plenty of room for outdoor recreation, with biking, walking, or jogging along the C&O Canal Towpath, kayaking out on the Potomac, or strolling through area museums. There are also plenty of nearby restaurants and shops in Georgetown.
Dupont Circle
<a href="https://www.washingtondcrealestate.com/dupont-circle-real-estate/" title="dupont circle homes for sale">Dupont Circle</a> provides free access to the zoo, plus it’s just a few miles from popular Rock Creek Park with hiking and biking trails, golf, tennis and more. The neighborhood is also filled with bookstores, coffee shops and restaurants. This pedestrian-friendly neighborhood is a favorite of young families, as it sits close to a highly ranked elementary school and several private schools.
Cleveland Park
Cleveland Park is a great place to call home for families interesting in living in an area with more of an urban vibe. The neighborhood puts you close to shops, restaurants, and entertainment venues. There’s also the option of growing your own food in the community garden or taking a stroll along Klingle Valley Trail. <a href="https://www.washingtondcrealestate.com/cleveland-park-real-estate" title="cleveland park homes for sale">Cleveland Park</a> has many different types of homes for families to choose from, including Victorian-style homes, Queen Anne, and Art Deco designs.
AU-Tenleytown
Living in <a href="https://www.washingtondcrealestate.com/american-university-park-real-estate/" title="au park homes for sale">AU-Tenleytown</a> provides families with the best of both worlds. Not only is the area quiet with a suburban feel, but it’s also close enough to everything you want in the DC area. Families can choose from more traditional single-family homes or rowhouses in the neighborhood. There are also some great local schools.
Southwest Waterfront
There’s always something to do and see living in DC’s <a href="https://www.washingtondcrealestate.com/southwest-waterfront-real-estate/" title="southwest waterfront real estate">Southwest Waterfront</a>. The neighborhood sits within walking distance of area museums. You’ll also find outdoor movies and fun events like boat parades.2022-05-04T04:17:00-07:002022-05-04T04:29:01-07:00Mark Washburntag:washingtondcrealestate.com,2012-09-20:11340Top DC Neighborhoods Seeing Home Appreciation in 2021 <img src="https://assets.site-static.com/userfiles/755/image/m_street_georgetown.jpg" width="600" height="400" />
As we finish out the year, some of DC’s top neighborhoods are seeing home appreciation. This includes the popular Georgetown neighborhood.
<a href="https://www.washingtondcrealestate.com/georgetown-real-estate/" title="georgetown real estate">Georgetown</a> leads the pack with a 32-percent jump over last year. According to published reports, the neighborhood had a median home price of $1.139 million in 2020, but that jumped to $1.5 million in 2021. The increase is credited to townhomes with four or more bedrooms.
It was a similar outcome for the <a href="https://www.washingtondcrealestate.com/observatory-circle-real-estate/" title="observatory circle real estate">Observatory Circle</a> and <a href="https://www.washingtondcrealestate.com/michigan-park-real-estate/" title="michigan park real estate">Michigan Park</a> neighborhoods. Both saw a gain of 27-percent,year-over-year in median home price . Although it’s not technically for sale, the Vice President’s home in Observatory Circle is valued at around $7.5 million.
The more than 9,000 square foot home is a Queen Ann-style home that dates back to the late 1800s. It’s significantly higher in price than the median home price in Observatory Circle, which is currently around $583,000.
The price increase in Observatory Circle this year is traced back to a rise in co-op and condo values. Median home prices went up in Michigan Park too, where the median home price in 2020 was $600,000, but for 2021 it’s $760,000.
For Michigan Park, the median home price boost is tied to an increase in value for detached houses. The Northeast DC neighborhood is known for its tall trees, its quiet atmosphere and its green space.
Many homes in Michigan Park have front porches and well-kept yards. While earlier homes in the neighborhood have slate roofs, some of the homes built after the war include wide windows and flat roofs.
Most homes are red brick with white trim. It’s a trend that’s carried over to some new construction townhomes in the neighborhood, as well.
Other DC neighborhoods seeing the highest home appreciation for 2021 were LeDroit Park and Crestwood. Congress Heights and Kent both saw an increase of 19-percent.2021-12-17T08:45:00-07:002021-12-17T08:55:26-07:00Mark Washburntag:washingtondcrealestate.com,2012-09-20:9848DC Named As a Top City for Hipsters<img src="https://assets.site-static.com/userfiles/755/image/h_street_corridor_smith_mural.jpg" width="600" height="400" />
DC has a reputation for attracting politicians and lobbyists, but according to a new study, the District isn’t just for those most comfortable wearing a business suit. Believe it or not, one website just declared DC one of “<a href="https://www.rent.com/blog/best-cities-for-hipsters/" rel="nofollow">The Best Cities for Hipsters in America</a>”.
Move over Berkeley, Seattle and Portland, it seems Rent.com also considers DC a top location for progressives. Rent.com recently released a list of what it deems the top 50 cities for hipsters, and analysts put DC at an admirable number six on the list.
The website looked at the percentage of a city’s population between the ages of 20 and 34. It then took into account things like a city’s median income and the average rent price for a studio apartment.
Other things were also considered in the ranking, including the density of hipster-friendly businesses, such as record stores, craft breweries, coffee shops and organic markets. Another thing that was considered was a city’s bike-ability score.
When all of those scores were taken into account, analysts then added up the scores to come up with a final ranking for each city. As for DC, Rent.com acknowledged the city is home to quite a few young people.
In the category of population 20-34, DC ranked number 15. <a href="https://www.washingtondcrealestate.com/">DC </a>ranked 19 for local businesses, 20 for bike-ability and 25 for income. DC took the 83rd spot for studio apartments.
While the website admitted the cost to rent a studio apartment in DC is around $1,686, it also mentioned the cost isn’t necessarily prohibitive. The average income in DC tops $85,000.
Not surprising, Seattle came in at number one on the list of “The Best Cities for Hipsters in America”. Minneapolis took second place and Tempe took third place. With a population of more than 705,000 residents, DC fell in right behind Berkeley, California.2021-06-07T12:56:00-07:002021-06-07T13:21:02-07:00Mark Washburntag:washingtondcrealestate.com,2012-09-20:6779DC Neighborhoods with the Highest Home Price Appreciation<img src="https://assets.site-static.com/userfiles/755/image/north_capitol_street_dc.jpg" width="800" height="459" />
Photo: <a href="https://www.flickr.com/photos/taedc/">Ted Eytan</a>
While DC real estate is notoriously on the pricey side, some neighborhoods are going up in price at a faster rate than others. When it comes to the highest home price appreciation, a handful of select neighborhoods easily rise to the top of the list.
In the number one spot for 2020 is Wakefield. According to recent reports, the Wakefield neighborhood saw median home prices rise more than 68-percent in 2020. The median home price in the neighborhood a year ago was about $444,000, while it’s $748,000 today.
Found between the Tenleytown and Van Ness Metros, <a href="https://www.washingtondcrealestate.com/wakefield-real-estate" title="wakefield real estate">Wakefield</a> is a triangular-shaped neighborhood bounded by Albermarle Street NW, Connecticut Avenue NW and Nebraska Avenue NW. Built up starting in the 1930s, Wakefield is mostly residential, consisting of single-family homes and some apartment buildings.
The next neighborhood on the list is Barry Farm. Across the city from Wakefield, Barry Farm sits in Southwest DC. The neighborhood saw prices rise more than 52-percent this year. The median home price in Barry Farm in 2019 was $246,000, while its $375,000 today.
This post-Civil War community sits to the east of the Anacostia River. In recent years, DC leaders began remaking the community from public housing to a mixed-use community.
Other neighborhoods to make the list in 2020 included <a href="https://www.washingtondcrealestate.com/brentwood-real-estate" title="brentwood real estate">Brentwood</a> and Woodley Park. The highest median home price in 2020 of the seven neighborhoods mentioned was in <a href="https://www.washingtondcrealestate.com/woodley-park-real-estate/" title="woodley park real estate">Woodley Park</a>.
While the median home price there was $1.3 million in 2020, the year-over-year change was only about 42-percent. Fort Lincoln, Woodridge and Palisades also made the list. The median home price in 2020 in <a href="https://www.washingtondcrealestate.com/palisades-real-estate" title="palisades real estate">Palisades</a> was similar to Woodley Park.
Interestingly enough, none of the neighborhoods that saw the largest increase in median homes prices a year ago made the list for 2020. In 2019, Hillcrest sat at the top of the list, followed by <a href="https://www.washingtondcrealestate.com/logan-circle-real-estate/" title="logan circle real estate">Logan Circle</a>.2021-01-02T14:50:00-07:002021-01-02T15:11:00-07:00Mark Washburntag:washingtondcrealestate.com,2012-09-20:1840Here's Why DC is Good for Women <img src="https://www.washingtondcrealestate.com/uploads/female_entrepreneurs_450_450.jpg" alt="" class="img_box_center" width="450" height="333" />
According to a <a title="nerd wallet study about women owned businesses" href="http://www.nerdwallet.com/blog/small-business/best-places-women-owned-businesses/" rel="nofollow">2014 study</a> by NerdWallet, a personal finance Web site, Washington, DC, has the highest rate of women-owned businesses in the nation. NerdWallet ranked the best cities for women entrepreneurs by looking at a number of different factors, including earnings of female entrepreneurs, economic state, and overall business friendliness of a city. The number of women-owned business firms in the US overall grew 59% between 1997 and 2013 with female entrepreneurs generating more than $1.3 trillion in revenues from approximately 9 million U.S. businesses. In the nation's capital more than a third of the businesses are owned by women. This stat is not surprising, given the high education levels of women there as well as the presence of several business resources, including the Washington DC Women's Business Center.
More Than One in Three Tech Jobs Are Held By Women
<a title="DC Real Estate" href="https://www.washingtondcrealestate.com/washington-dc-real-estate.php">DC</a> is also the site of a small (in comparison to the West Coast), growing start-up presence, spawned by start-up LivingSocial, located near Gallery Place in <a title="Penn Quarter Real Estate" href="https://www.washingtondcrealestate.com/penn-quarter-real-estate.php">Penn Quarter.</a> A parallel study by financial developer SmartAsset, notes that more than one in three tech jobs in DC are held by women. Using 2013 US Census data, SmartAsset ranked DC as number one for women with "computer jobs" followed by Kansas City, Missouri; Fremont, California; Houston, Texas; and New York. Economists note that the physical presence of the Federal Government in Washington, DC, and emphasis on enforcing Equal Employment Opportunity Laws, may account for the results. Despite the fact that San Francisco, the Valley and Boston are considered "tech hotbeds," they didn't rank in the top five cities although San Jose posted the highest median female income with $72,265. Alas, despite these gains, DC women still make 7.7 percent less than men in similar tech jobs -- perhaps validating actress Patricia Arquette's recent lament on equal pay in her much talked-about Oscars speech.<br /><br />Related Links
<a href="https://www.washingtondcrealestate.com/blog/the-real-second-city-in-the-united-states.html" target="_blank">DC Economy Exploding</a>
<a href="https://www.washingtondcrealestate.com/washington-dc-luxury-condos.php" target="_blank">DC Luxury Condos</a>
<a href="https://www.washingtondcrealestate.com/washington-dc-lofts.php" target="_blank">DC Lofts</a>
2015-04-01T05:53:00-07:002018-03-01T21:55:21-07:00Mark Washburntag:washingtondcrealestate.com,2012-09-20:1843Here's Why DC is Rich with Millionaires<img src="https://www.washingtondcrealestate.com/uploads/georgetown_rooftop_garden_450.jpg" alt="" class="img_box_center" width="450" height="300" />
DC Outranks San Francisco, Boston
It's not enough to be the heartbeat of the government -- the nation's capital is also one of the more affluent regions in the nation. According to a recent Capgemini study, <a title="DC Real Estate" href="https://www.washingtondcrealestate.com/washington-dc-real-estate.php">Washington, DC</a>, ranks #4 for high net wealth individuals with more than 221,000 individuals claiming assets of a million dollars or more, excluding real estate holdings. New York is home to the most millionaires in the U.S. with 894,00, three times as many as LA, which came in second place. The number of Washington millionaires grew by 15.6 percent in 2014 while the net worth also rose by 19.3 percent. New York, Los Angeles and Chicago came in first, second, and third, respectively for the nation's richest individuals while Washington beat out San Francisco, Boston, Houston, San Jose, and Dallas.
DC Immune to Recent Recession
One theory on why DC continues to outperform other regions, despite its relatively small geographic area, is that DC didn't suffer through the recent recession the way other regions did. The federal government and military, while not immune, didn't make any major cuts in workforce in stark comparison to industries such as finance, healthcare and technology. Some of the more "moneyed" positions that are somewhat unique to DC include high-profile politicians, lobbyists, consultants, and government contractors. And, where do DC's millionaires live? Not surprisingly, DC's elite flocks to luxurious townhouses tucked away in <a title="Georgetown Real Estate" href="https://www.washingtondcrealestate.com/georgetown-real-estate.php">Georgetown</a>, <a title="Capitol Hill Real Estate" href="https://www.washingtondcrealestate.com/capitol-hill-real-estate.php">Capitol Hill</a> and mansions nestled in the rarefied airs of <a title="Kalorama Real Estate" href="https://www.washingtondcrealestate.com/kalorama-real-estate.php">Kalorama</a>. According to the Washington Post, DC is also home to 16 billionaires although it's not clear if the billionaires also live in Georgetown and Capitol Hill or make their homes in other posh neighborhoods.<br /><br />Related Links
<a href="https://www.washingtondcrealestate.com/blog/be-in-the-know-georgetown-offers-waterfront-living.html" target="_blank">Georgetown Offers Waterfront Living</a>
<a href="https://www.washingtondcrealestate.com/blog/kalorama-home-to-washingtons-elite.html" target="_blank">Kalorama: Home to DC's Elite</a>
<a href="https://www.washingtondcrealestate.com/blog/the-maples-condos-selling-well-on-capitol-hill.html" target="_blank">The Maples Condos Selling Well on Capitol Hill</a>
2015-03-25T06:59:00-07:002018-03-01T22:01:42-07:00Mark Washburntag:washingtondcrealestate.com,2012-09-20:1835DC is One of the Top 10 Sexiest Neighborhoods<img src="https://www.washingtondcrealestate.com/uploads/14th_street_500_500.jpg" alt="" class="img_box_center" width="500" height="333" /><br />Powerful yes, but sexy? According to a recent Thrillist ranking, the 14th Street neighborhood in Washington, DC, ranked #9 in the "Top Ten Sexy Neighborhoods," in the U.S., edging out Back Bay in Boston at #10. Not surprisingly, South Beach Miami came in first but how could it lose when the first sentence of its listing reads, "sex permeates the air when you roll across the MacArthur Causeway into South Beach…" ?
14th Street is the New "IT" Neighborhood
So how does power and the DC area's high concentration of brainpower translate into sexy? <a title="DC Real Estate" href="https://www.washingtondcrealestate.com/washington-dc-real-estate.php">DC</a> has always been a hotbed for young professionals. With the growth of entry-level jobs in the government sector because of the roaring DC economy, the migration of young people has ramped up in the last five or six years. 14th Street is the recipient of much of this activity where some $3 billion worth of investments has resulted in revitalization of the area's row houses and the opening of new restaurants and bars. The area of 14th Street from Rhode Island to Florida Avenue has been undergoing revitalization for years with additional new money coming in, starting in 2010. 14th Street bridges <a title="Logan Circle Real Estate" href="https://www.washingtondcrealestate.com/logan-circle-real-estate.php">Logan Circle</a> and <a title="U Street Corridor Real Estate" href="https://www.washingtondcrealestate.com/u-street-corridor-real-estate.php">U Street</a>, two of the area's hottest neighborhoods, especially for Millennials. Both Logan Circle and U Street suffered after the assassination of Martin Luther King, Jr., in 1968 with the ensuing riots and suburban flight.
From Whole Foods to Luxury Condos
Neighborhood business owners trace the turnaround with the arrival of Whole Foods in P Street in 2000, followed by a number of other upscale businesses, convinced that the Whole Foods success was validation they could thrive in the community. Much of the latest development is now focusing on the opening of new luxury condos catering to the tight rental housing market. Louis at 14th and U Street is one of the newer buildings, offering studio, one, and two-bedroom residences in an amenity-rich environment.
Despite the projected 1,200 additional housing units and more than 85,000 sf of retail space underway, DC's "hip strip" still has a long way to go to compete with South Beach for the #1 spot. In fact, according to Miami's listing, "models are literally standing in front of you at the grocery store with topless girls laying out on the beach and bars open until 5 am."<br /><br />Related Links
<a href="https://www.washingtondcrealestate.com/blog/logan-circle-dcs-new-it-neighborhood.html" target="_blank">Logan Circle: DC's New It Neighborhood</a>
<a href="https://www.washingtondcrealestate.com/blog/logan-circle-row-houses-are-highly-sought-after.html" target="_blank">Logan Circle Row Houses Highly Sought After</a>
<a href="https://www.washingtondcrealestate.com/blog/best-washington-dc-neighborhoods-for-young-professionals." target="_blank">Best DC Neighborhoods for Young Professionals</a>
2015-03-11T17:55:00-07:002018-03-01T22:14:38-07:00Mark Washburn