Washington, DC is a great place to invest in real estate for all the right reasons. As our Nation’s Capitol, the seat of world power, it is a region unlike any other in the country. Government agencies, military and intelligence agencies, foreign embassies, trade
With this diversity of government and business concerns there also comes an unparalleled ethnic diversity. This diversity translates into a vibrancy that sets this metropolitan area apart from any other in the country in regards to economic resources. Four of the top ten counties nationally in terms of per capita income are in the DC Metro area. The wealthiest county for African-Americans is also here and growing. The most recent national employment rate numbers show Maryland has the lowest in the entire country. I could cite many other accolades but I believe the message is clear.
And, as far as investing in real estate, again, Washington, DC is the power center of the country as indicated by various research groups. At the time this article is being written, The Washington Post just posted a front page article on local real estate.
Why has Washington area real estate fared so well in spite of the “Great Recession?” What are the specific reasons for this amazing fact? We’ve cited some in the beginning of this article. However, to give a more complete picture let’s dig a little deeper.
The DC Metro area comprises Washington, DC, Northern Virginia, and parts of Maryland. The real estate market in each of those jurisdictions varies tremendously. Proximity to jobs, school districts, crime rates, transportation arteries, home prices, and a
host of other factors contribute to this variation.
Let’s look at prices as a start. The average cost of a house in DC proper is about $355,000, but just down the road in Baltimore City, it’s slightly more than half that! In Prince George’s county, which was discussed in the Post article, values straddle those
prices. These different “sub-markets” in Maryland, DC and Virginia are responsible for this dynamic housing environment. To have such diverse markets in such a narrow geographic area is a boon for real estate investors of all stripes.
And we can’t forget about rental housing which in some areas is even more robust. Due to the constant exchange of business, government, and educational institutions local residents move more often in the DC Metro area. This creates high demand for rental
housing. Even in some of the economically depressed areas of DC, one and two bedroom apartments fetch eight hundred to a thousand dollars a month, respectively!
In National Harbor Maryland where my office is located an apartment building is slated for completion in 2015. The rents will range from $2200 to $3000 for one and two bedroom units and there are already eager applicants! MGM is building a 1.2 billion
dollar, yes, billion with a “B”, complex in the same development. They understand the economics of the area very well, thank you!
If you’re a real estate investor, the facts I’ve shared with you should peak your interest, but I suggest you do your own research. Here’s a starting point, Real Estate Business Intelligence. They provide unbiased statistics on what the DC real estate market is doing.
When you’re done, feel free to contact my company directly. If you’re ready to invest using your self-directed IRA, we’re the licensed professionals on the ground that will help you locate, analyze and close the transaction. We do all the heavy lifting and provide
a “turnkey” service.
We also have an e-Book that highlights several transactions we’ve been involved with. Peruse it at your convenience. We’re excited about the real estate investment options the Washington, DC region provides. Now is the time to take advantage of this unique
market. Power real estate investing in the Nations’ Capitol; can’t you feel the energy? IRA Real Estate, LLC
The Real Estate Investment Specialists!
137 National Plaza, Suite 300
National Harbor, MD 20745