clock menu more-arrow no yes

Filed under:

Much of The Middle Class Can Actually Afford to Live in D.C.!

Here's an article from Atlantic Cities (via some Trulia data) that makes buying a home in D.C. not seem as dire as trying to buy a home in say, San Francisco or New York. Of the homes that have gone the market in D.C. in 2013, 63% of them are at prices that the middle class can afford. What's more, they aren't terribly small homes: the median size of these affordable homes are 1,510 square feet. Now for the assumptions here: "middle class" refers to the group of people making D.C.'s median income of $87,231 per year. This study also assumes that the "can afford" assumption means that people won't spend more than 31 percent of its pre-tax income on the abode. The Bethesda/Rockville/Frederick area is also doing pretty well with 65% of the homes within reach of the middle class. We're not as affordable as say, Ohio, but why would we want to be in Ohio?
· Where Even the Middle Class Can't Afford to Live Any More [Atlantic Cities]