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Old 05-16-2013, 11:59 AM
 
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Can anyone here compare the DC metro area to the Bay Area in terms of housing i.e. how much more expensive is it to buy a condo/ SFH here vs the DC metro?
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Old 05-16-2013, 02:24 PM
 
Location: Mountain View, CA
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I actually just moved here from DC last August. I didn't live in DC proper - I lived in Fairfax. I can say housing costs here are VASTLY more expensive.

I purchased a nice 2br 2ba condo in Fairfax for around 230K. It is probably worth closer to 250K now. A similar quality place here in Mountain View would be about double, around 500K. So I'd say purchasing a home is at least double as compared to Fairfax. More than double if you want to talk about a large single family home (a SMALL single family home in a decent area easily tops $1M here).

Apartment rent isn't quite as bad a situation but it's still bad, and getting worse. I'm not sure what rents in Fairfax are now, but a 2br 2ba place last I checked was probably 1600 - 1800. Here it would be more like 2800. So not quite double, but a lot more. You can knock a bit off of those prices if you assume San Jose or Santa Clara, or add a bit if you assume say Palo Alto.

That is Silicon Valley. The East Bay can be (say Fremont, or even Oakland) cheaper. San Francisco will be a decent bit more.

And obviously, if you want to compare DC proper or the Arlington Orange Line corridor, the price gap narrows a lot. That said, I wouldn't consider that a fair comparison - Arlington is 10min from downtown DC by transit, Silicon Valley is a 45min drive from SF on a good day. In terms of area I see Silicon Valley as being most like the Fairfax/Centreville/Reston triangle - suburban with high tech employers, some distance from the city (though Fairfax is still way closer to DC than Mountain View is to SF) .

With that apples to apples comparison, the DC area is WAY cheaper.
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Old 05-16-2013, 02:44 PM
 
189 posts, read 361,426 times
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What about Montgomery County in Maryland?
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Old 05-16-2013, 02:48 PM
 
Location: Mountain View, CA
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I think by and large, prices in Montgomery County are pretty similar to Fairfax County. So I think the above comparison is apt. Are you considering a move to the Bay Area?
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Old 05-16-2013, 02:54 PM
 
189 posts, read 361,426 times
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Quote:
Originally Posted by Azmordean View Post
I think by and large, prices in Montgomery County are pretty similar to Fairfax County. So I think the above comparison is apt. Are you considering a move to the Bay Area?
Yes, I make 90k here (comes to about 4500/month after all deductions) so was wondering what I would need to make in the Bay Area to maintain a similar lifestyle. I mean even with 90K I have roommates and just do so so. I would prefer living on my own now, just keep renting and then maybe buy sometime down the road. Also do employers adjust pay for this COL difference? Should I also look at other regions in CA?
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Old 05-16-2013, 03:03 PM
 
Location: Mountain View, CA
1,152 posts, read 3,192,979 times
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Quote:
Originally Posted by gaijin_samurai View Post
Yes, I make 90k here (comes to about 4500/month after all deductions) so was wondering what I would need to make in the Bay Area to maintain a similar lifestyle. I mean even with 90K I have roommates and just do so so. I would prefer living on my own now, just keep renting and then maybe buy sometime down the road. Also do employers adjust pay for this COL difference? Should I also look at other regions in CA?
Are you in tech? If so, chances are, you will make up the COL out here. I made a similar move, and make way more money here than I did in DC. I think part of it is most DC area jobs are tied to Government contracting somehow, and right now with the state of the budget, it's lean times. Not a lot of raises and bonuses and such. Out here, it's commercial tech so there's a bit more room, so to speak. I feel like not only is my salary better now here, but my career trajectory is better overall.

My take is if you are cool with renting, you could probably do well out here. If you want to buy, that's a tough order in this real estate climate. I am able to rent a decent 2br 1ba myself for 2500/mo here in Mountain View.

So yeah, if your considering it, start testing out the job market a bit. Feel free to PM me if you want to talk more too!
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Old 05-16-2013, 03:26 PM
 
189 posts, read 361,426 times
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Sure I will PM you...BTW what %age increase can you expect?
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Old 05-16-2013, 06:12 PM
 
Location: San Jose, CA
1,318 posts, read 3,545,945 times
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Quote:
Originally Posted by gaijin_samurai View Post
Can anyone here compare the DC metro area to the Bay Area in terms of housing i.e. how much more expensive is it to buy a condo/ SFH here vs the DC metro?
I know many people that have done the move, and to tell the truth it really depends on specific neighborhoods, but I would say on average you're going up from about $220/sqft to about $500/sqft. But it all depends on the specific neighborhoods as I said. If you're comparing say McLean/Great Falls vs say Palo Alto, you're talking going from $360-400/sqft to about $1000/sqft, so yeah, in which case you will have to compromise a lot more in terms of house size.
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