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I've just accepted a new job in DC. I'm a first year attorney my salary at my new firm is around 160k plus a bonus(not sure what it will be yet.) My wife is also an attorney who is moving with me, but does not have a job yet but we're confident she can make anywhere between 100-125k. anyways we know nothing about the area and would like to know a few things
1.) I need to be the metro so any good neighborhoods? I've heard Georgetown and Capitol hill areas are nice.
2.) Average rents in the area? (We do plan to buy in the next few years)
3.) Will my salary be pretty adequate? (I know its pretty expensive too live here)
4.) What is the night life like
thanks for any info or anything else anyone wants to throw in thank you in advance.
Most people have listed the top neighborhoods that match your criteria--Dupont, Capitol Hill, Logan Circle/U Street, Adams-Morgan. All have abundant housing, dining/nightlife options, and either have or are close to Metro.
Georgetown doesn't have a Metro stop, but there are a number of bus lines and two Circulator lines that run through it (and the Foggy Bottom stop isn't that far away).
Woodley Park is convenient and has good housing stock, but is going to be much quieter than those other neighborhoods. Cleveland Park, a bit farther up the Red Line, has a thriving commercial corridor along Connecticut and also has a lot of good housing options.
You may also want to consider Penn Quarter and Mt. Vernon Square, which has as much nightlife and entertainment options as you're goign to find in the city, and remains a development hotspot. Also, if you're amenable to looking outside of the District proper, Clarendon, Old Town and Bethesda all have vibrant commercial centers with Metro stops.
If you're looking for neighborhoods where your dollars go a bit farther but aren't as "polished" as the ones above, you might consider H Street/Atlas District, Columbia Heights, Bloomingdale/Ledroit Park or some of the new apartments and condos sprouting up along the SE/SW waterfront.
As far as rents go, they can vary. Expect to pay anywhere from $1500-$2200 for a 2BR apartment in a "transitioning" neighborhood, up to $4-5000/mo for a 2 BR in the toniest areas (such as the West End, Georgetown or some of the "luxury" spaces around Penn Quarter).
160K is a very good salary, and if your wife is pulling in another 100 you're set.
Capitol Hill is indeed very nice, it's a little more quiet than other areas while still having a lot of amenities. Shop around near the Capitol South and Eastern Market stations.
With a combined salary over $250K, I'd say the place for you is Congress Heights. It's near a metro station and they have a nightlife that puts the rest of DC to shame. Otherwise Blue Plains is another area for you, it features scenic waterfront vistas of the Potomac and is near the luxurious National Harbor.
I highly recommend you go see these areas in person. The best way to get there is to take the metro to the Congress Heights stop and walk around. Especially at night, when they light up the trees it's a romantic place to take your wife.
I've just accepted a new job in DC. I'm a first year attorney my salary at my new firm is around 160k plus a bonus(not sure what it will be yet.) My wife is also an attorney who is moving with me, but does not have a job yet but we're confident she can make anywhere between 100-125k. anyways we know nothing about the area and would like to know a few things
1.) I need to be the metro so any good neighborhoods? I've heard Georgetown and Capitol hill areas are nice.
2.) Average rents in the area? (We do plan to buy in the next few years)
3.) Will my salary be pretty adequate? (I know its pretty expensive too live here)
4.) What is the night life like
thanks for any info or anything else anyone wants to throw in thank you in advance.
1) What are you looking for in a neighborhood? DC has plenty of diverse places but you need to know what you want before people can really make a good recommendation for you guys...
2) same thing as #1
3) It should, but it also depends on what type of place you're trying to rent and what type of lifestyle...are you both planning to drive, do you have kids or planning to have kids, etc etc
4) Nightlife...again, DC is pretty diverse so you have everything from jazz to raves lol so what are ya looking for?
Dont know your long term plans: 250Kish without a kid is plenty. With a kid or two it can be a little tight, depending on what you want - private schools run up to $30K per, nannies get paid on the order of $13 to $15 an hour - so there's another $30K or so, to say nothing of all the other incidentals, college savings, etc. I think with kids, $350 is a good place to be, but you can definitely make it work on $250ish
I do have a daughter but she is old enough to go to school so I don't need a nanny or daycare. What we were looking for in a neighborhood is something close to the captiol building because my firm is a block or two from it. I was look at places in Logan circle and dupont circle. My wife are willing to spend up 5k a month if it's a place that we really like maybe alittle more
Damn...I make 50K with a wife and kid living in Japan on a single income...and I do international travel for several months out of the year for kicks.
I think it really comes down to spending habits. Each poster is going to have a drastically different answer if 300K a year is 'sufficient' to live on or not.
The best way is to make a personal budget list, to see what kind of things you require that make 300K perhaps not work for you.
If it were me, and I had even 100K, I'd be styling.
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