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Quelcris_Falconer13 t1_j0jy2pa wrote

Reply to comment by NPRjunkieDC in DC's old Vanguard building to be converted into downtown apartments by Maxcactus

Affordability is usually used based off median income in the area. It’s higher in DC than the national average but DC is. HCOL city, one do the top 5 in the US, so yeah median income here might be too dollar in many parts of the US, but in DC it feels poor.

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NPRjunkieDC t1_j0melmg wrote

What many don't realize I think is that one bedrooms in 20009 (in beautiful old buildings cuz very little new construction) have not gone up in price last 10 years . 325-450K.

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Quelcris_Falconer13 t1_j0n0u9k wrote

Almost half a million dollars for a 1br condo still feels like a rip when you think about how you gotta pay high HOA fees anyways

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NPRjunkieDC t1_j0n2r2t wrote

400K + $300 per month +300 monthly property taxes comes out same or less than rent if you have DP. With rates at 3% maybe not 6.5%.

DC helps with DP if you make 50-80K .

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Quelcris_Falconer13 t1_j0nf8w6 wrote

Yeah I’m in the shitty income where you make too much for aid but have to live well below your means if you want to afford to buy.

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NPRjunkieDC t1_j0n3mob wrote

Or come to Atlanta.

SF + LA + Denver + Seattle + Chicago + Boston + NYC + DC + Miami + Atlanta. 10 major cities not incl TX.

Atlanta only cheap real estate out of the 10 cities.

Bought condo good location Atlanta .210K 780sf one bedroom + one bath. Put in 70K and new location for kitchen and bath + added half bath + new location washer dryer + new floors + new molding everywhere + knocked down 2 walls . Ended up 2BR + 1FB + 1HB with 70K so total 280K.

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