Washington D.C. fails in terms of home affordability
While purchasing a house on Capitol Hill or in Cleveland Park may be ideal for Washington D.C. homebuyers, it is not always feasible. Instead, an article in the Washington Post is highlighting alternative areas, where homebuyers can find more affordable real estate.
Rising home prices, low inventory and higher interest rates are pushing many buyers’ dream homes further and further out of reach, real estate agents say, particularly in metropolitan Washington’s more popular neighborhoods.
“They’re not quite as expensive as Capitol Hill but still offer proximity to downtown and to Metro,” Djana Morris, a real estate agent with Long & Foster Real Estate in Washington, said. “The problem is, alternative neighborhoods have some of the attributes people want in places like Capitol Hill, but not all of them. If you have to have Metro, then Columbia Heights and the east side of Georgia Avenue work, but if you don’t need Metro, Brightwood is another good option, although it’s mostly residential.”