Chicago · Registered nurse · $98,500 · One adult, renting a 1-bedroomSaved on this device

Chicago · Registered nurse · $98,500 · One adult, renting a 1-bedroom

Washington, DC

Housing in Washington, DC: Rent, Home Prices & Property Tax

$1,916/mo (1 bd) in Washington. Median home $553,000. Property tax 0.56%.

Compare vs Chicago Rank metros from WashingtonHow we figure this

Rent (1 bd): $1,916; /mo
Buy: $3,561; Mortgage, tax, insurance
Buying costs more: $1,645; /mo

State tax and rent

To buy

20% down payment$110,600
Mortgage at 6.5%$2,796
Property tax (0.56% of value)$258/mo · $3,097/yr
Insurance and upkeep$507
Monthly total$3,561

45.5% of renters spend 30% or more of income on rent. Census ACS 2023.

Months to 20% down

$2,913 left each month. About 38 months (3.2 years) to save $110,600.

Asking rent. Census median home price. 30-year fixed, 6.5%, 20% down. Not lending advice.

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