U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Virginia > Northern Virginia
 [Register]
Please register to participate in our discussions with 1.5 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Jump to a detailed profile or search
site with Google Custom Search

Search Forums  (Advanced)
Business Search - 14 Million verified businesses
Search for:  near: 
Reply Start New Thread
 
Old 03-05-2011, 07:24 PM
 
885 posts, read 494,415 times
Reputation: 180
Default Why is Housing So Expensive Around DC Area???

I am not talking about downtown DC, I am talking about housing 10-20 miles away from downtown. Why is it so much more espensive than suburbs around say Dallas, Miami, and Houston? In those areas, you can get a nice 3 bedroom house for less than $150K if it's more than 10 miles away from downtown. Around DC, it's about 400% more expensive.
Reply With Quote Quick reply to this message

 
Old 03-05-2011, 07:26 PM
 
Location: Pittsburgh, PA
3,806 posts, read 3,302,333 times
Reputation: 1767
Because of overinflated government salaries that we are all paying for.
Reply With Quote Quick reply to this message
 
Old 03-05-2011, 07:30 PM
 
Location: Northern Virginia
4,489 posts, read 5,258,055 times
Reputation: 3504
Supply and demand.

Why are you looking to move to DC over those other metro areas?
Reply With Quote Quick reply to this message
 
Old 03-05-2011, 07:38 PM
 
885 posts, read 494,415 times
Reputation: 180
Supply and demand, if caused it to increase by 40%, understandable. But, 400%? Com'on.

We're talking about Miami vs. DC and Dallas vs. DC, not Nowhereville Mississippi vs. DC.
Reply With Quote Quick reply to this message
 
Old 03-05-2011, 07:39 PM
 
71 posts, read 108,482 times
Reputation: 20
More jobs centers in the suburbs
Reply With Quote Quick reply to this message
 
Old 03-05-2011, 07:40 PM
 
404 posts, read 589,994 times
Reputation: 345
Quote:
Originally Posted by bradjl2009 View Post
Because of overinflated government salaries that we are all paying for.
Because we have jobs.. Moderator Cut

Last edited by Tone509; 03-05-2011 at 09:19 PM.. Reason: personal attack - let's not jump to conclusions
Reply With Quote Quick reply to this message
 
Old 03-05-2011, 07:42 PM
 
Location: Northern Virginia
4,489 posts, read 5,258,055 times
Reputation: 3504
Quote:
Originally Posted by Winter2010 View Post
Supply and demand, if caused it to increase by 40%, understandable. But, 400%? Com'on.
You're right. Houses in DC are actually more expensive because they're built out of gold.

Come on. The market doesn't lie. Houses cost more here because people are willing to pay more for them. There is a strong economy here thanks to the feds and the associated contracts. There isn't acres and acres of new development springing up within 10 miles of DC right now. What you see is what you get. High demand and low supply = expensive housing.

Same deal in every other place with expensive housing. Long Island, San Fransisco, LA...people want to move there, so houses cost more. If Dallas had the jobs of DC and the weather of LA, houses would cost twice as much as DC--but Dallas doesn't have those things.
Reply With Quote Quick reply to this message
 
Old 03-05-2011, 08:17 PM
 
248 posts, read 358,195 times
Reputation: 103
Quote:
Originally Posted by Winter2010 View Post
I am not talking about downtown DC, I am talking about housing 10-20 miles away from downtown. Why is it so much more espensive than suburbs around say Dallas, Miami, and Houston? In those areas, you can get a nice 3 bedroom house for less than $150K if it's more than 10 miles away from downtown. Around DC, it's about 400% more expensive.
Far more jobs here, that's why.

Yeah and I've seen excellent 3brs going for 115k in my hometown. Also, these are very safe areas. Additionally.....when I used to work at my hometown, I had peers my age (25) buying houses like that for themselves. Oh yeah, did I mention that I thought the schools in my area were very good? I have first hand experience.

Here's the problem though.

We were software engineers. My hometown basically had a couple LARGE companies providing all of those jobs. But then the company I was working at lost a HUGE project and there were major layoffs, which I was a victim of. Nearly every one of my peers had to move to find other jobs, since there were really not many options left aside from underemployment if they stayed.

This really screwed my peers who bought a house then got hit by the layoff. Now they gotta sell or find something to do with that house. Luckily I was living with my Mom at the time so I could easily go to find work.

In DC, a peer of mine got laid off. He found several job offers 2 weeks later. That luxury is why housing is expensive here. I don't think I would find that luxury in those other cities. Actually he was originally from Dallas but after college he found work in DC easily and none in Dallas. He might have found a job later on if he looked harder....

However, it really depends on the field you are in. Different ballgame for nurses. Maybe they would be qualified to say that we are insane for choosing DC out of all areas.

But jobs aside, there are several other reasons why I picked DC out of all areas. Maybe I'm insane. Guess I should go back to inova and get that head injury checked out a second time..... Maybe it was misdiagnosed as minor.....

Last edited by tsuric; 03-05-2011 at 08:32 PM..
Reply With Quote Quick reply to this message
 
Old 03-05-2011, 09:11 PM
Status: "Fire Roger Goodell!" (set 6 days ago)
 
Location: Arlington, Virginia
14,814 posts, read 16,877,262 times
Reputation: 15148
The reason is quality and security of jobs and public school quality. In Louisville, where I live now, you can get a gorgeous house for 200k. However, finding a quality job outside of healthcare and logistics is not easy, especially for transplants, Louisville has the absolute worst busing system in the country which exposes an already poor Kentucky public school system, and the state has considerable meth problems.

NoVA has quality jobs, lower crime rates, and great public schools (though I think overrated) and people will pay a premium for that. Take it from someone who was stuck there for 6 years if COL will be a major issue for you I'd avoid the DC area or you will be chastised by those on this forum for not liking it.
Reply With Quote Quick reply to this message
 
Old 03-06-2011, 12:45 AM
 
371 posts, read 416,145 times
Reputation: 353
I feel like sometimes we forget we live in or near the nation's capital.

The capital.

Of what may be considered the most powerful nation in the world.

Name one capital city of a rich nation that is not ridiculously expensive.

London? Tokyo? Paris?

Just because DC tends to have a small-town vibe compared to cities like New York and Los Angeles, the fact remains that it is the seat of the federal government, which means we have a ton of diplomatic missions, highly-paid professionals including lobbyists and lawyers, and an IT sector that rivals Silicon Valley.

What I find amazing is that given its status as a world capital, there is such a large part of DC and close in suburbs with relatively low-priced real estate. And that even among the neighborhoods with sky-high prices, many are ones people wouldn't have been caught dead in twenty years ago.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Options
X
Data:
Loading data...
Based on 2000-2011 data
Loading data...

123
Hide US histogram


Over $84,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Virginia > Northern Virginia
Similar Threads

All times are GMT -6.

2005-2014, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25 - Top