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Old 05-17-2010, 04:19 PM
 
1 posts, read 10,605 times
Reputation: 19

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I recently accepted a position in DC and will be moving up in July. I am looking forward to it, but am getting really fustrated at the rental prices. I keep looking around Dupont Circle and adjoyning neighborhoods. I have tried expanding my search area, but other areas of DC don't really offer what I am looking for.

The prices are out of control. I have friends from school that are moving to MANHATTAN for similar amounts.

Don't get me wrong, DC is great. But I feel like I am going to be paying 80% of NYC prices for 30% of NYC ammenities. Something is out of whack here.

Sorry, if this comes across as a rant. But, am I missing something to justify the nearly NYC prices?
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Old 05-17-2010, 04:36 PM
 
Location: H street NE
188 posts, read 636,447 times
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If you want urban vibrancy without Dupont prices, check out Adams Morgan, Columbia Heights, U street, Logan Circle, parts of Capitol Hill, etc. Most of DC isn't like Manhattan and that's the reason many of us like it here.

DC's also kind of in a state of pretty severe flux. In 10 years the city won't look anything like the way it does now, and I'm pretty sure that neighborhoods will more accurately reflect their prices in terms of amenities. Also DC has amazing and stable jobs, and everyone wants to live in an urban vibrant, walkable area near a metro that will take them to their amazing stable job in under a half hour.

Also, the aforementioned urban, vibrant, walkable, metro accessible housing stock is drastically lagging behind demand, which is why pretty much anywhere near a metro station is so expensive. Like I said, DC is in flux and I'm pretty sure that in ten years you'll see a ton more of the aforementioned housing type, hopefully to the extent that there are some metro accessible areas that are actually affordable.
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Old 05-17-2010, 05:36 PM
 
Location: Fort Worth, TX
9,396 posts, read 14,764,302 times
Reputation: 6254
Because crappy weather save for a month and a half in Spring and in Fall, awful traffic, a public transit system that fluctuates between great and godawful, a usually great job market that currently has more unemployment than the national average IIRC, bad public schools, and the possibility of meeting Mr. Right (as long as he makes 200K/year and can get me a position in his law firm) are all in very high demand, dontchaknow?


That was a little harsh I'll admit. There's a lot to like about DC. Beautiful houses, wonderful restaurants, very walkable. It's a very "professional" city which is both good and bad in terms of culture. Unfortunately to really enjoy these fruits you have to make a ****ton of money. Those in the lower and middle classes can choose to live in dangerous neighborhoods or in safe towns that are a 1.5-2 rush hour commute from DC.
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Old 05-17-2010, 07:22 PM
 
Location: East Coast of the United States
22,318 posts, read 23,532,177 times
Reputation: 19050
Quote:
Originally Posted by Andycuse View Post
I recently accepted a position in DC and will be moving up in July. I am looking forward to it, but am getting really fustrated at the rental prices. I keep looking around Dupont Circle and adjoyning neighborhoods. I have tried expanding my search area, but other areas of DC don't really offer what I am looking for.

The prices are out of control. I have friends from school that are moving to MANHATTAN for similar amounts.

Don't get me wrong, DC is great. But I feel like I am going to be paying 80% of NYC prices for 30% of NYC ammenities. Something is out of whack here.

Sorry, if this comes across as a rant. But, am I missing something to justify the nearly NYC prices?
So you're saying that 1-bedroom apartments in Dupont Circle are now going for $3000 to $4000 per month?
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Old 05-17-2010, 08:19 PM
 
Location: NYC
457 posts, read 1,020,876 times
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Yeah, DC is expensive, but its a far exaggeration to say it reaches NYC standards. Although, I do have a couple friends who have studios in older UES/UWS buildings for $1,600-2,000. Granted they are tiny and usually dumpy but they do exist.
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Old 05-17-2010, 08:45 PM
 
Location: Silver Spring, MD
741 posts, read 2,651,613 times
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You can buy a foreclosed short/sale 3 bedroom 2.5 bath townhouse (sans central A/C) in Brightwood from anywhere to 200,000 to 300,000. and that will be a $2000 month mortgage...

That may not have all the amenities of NYC, but it's in the beltway, and may even be close to Fort Totten. There's even good deals in Petworth which is a little more gentrified...

Trying finding that in NYC...

A good solid 1BR apartment on average within the beltway should get you about 1800-2200, more than that and you should get some good perks (big free exercise room, pool, etc...). All depends.
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Old 05-18-2010, 07:31 AM
 
1,503 posts, read 1,042,133 times
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DC rents are expensive because a lot of people with a fair amount of money want to live here. I'd much rather live here than New York City and my house here would be twice as expensive in New York. When I have to be in New York I take the train.
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Old 05-18-2010, 07:40 AM
 
Location: Rockville, MD
3,547 posts, read 8,039,471 times
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Quote:
Originally Posted by HurricaneDC View Post
a usually great job market that currently has more unemployment than the national average IIRC
Are you sure you aren't confusing DC's (the city) rate with the region's? The metropolitan region's unemployment rate is much lower than the city's.
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Old 05-18-2010, 07:42 AM
 
Location: Rockville, MD
3,547 posts, read 8,039,471 times
Reputation: 1373
Quote:
Originally Posted by rhinestone View Post
DC rents are expensive because a lot of people with a fair amount of money want to live here.
This pretty much nails it. Personally, I'm sympathetic to arguments that DC is somewhat overpriced for what you get--and I say that as someone who really loves living here. But so long as people with money keep moving here in droves, the prices are going to remain high.
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Old 05-18-2010, 07:45 AM
 
54 posts, read 194,065 times
Reputation: 16
Well young grasshopper.. that's what happens when you decide to move into one of the most expensive parts of the area. Dupont Circle is EXPENSIVE. Homes are near a million. I suggest you FURTHER expand your search. The best deal you will find is a 400 sq ft studio for under 1400... In other words you'd have more room in your mother's walk in closet. You can be downtown on a budget for about 1300-1400 in a studio.. anything less you need to move out further. Sorry but that's how it is. If you do find something that's a steal..BELIEVE ME.. something is wrong with it. I've been apt hunting and working with realtors for years. It's not going to be easy.
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