When stacked against states, no state comes close to long-term appreciation of home values in the District, where prices have nearly tripled in the last 22 years.
Data from the Federal Housing Finance Agency says median home prices in D.C. are up 293.4 percent since 1991. That’s more than three times the national average.
Every state shows healthy gains over that same period, with Ohio at the bottom of the list, where home values have gained 56.1 percent in the last 22 years.
The District also joins only seven states where home values now are higher than they were five years ago, demonstrating how D.C. weathered the housing downturn and recession. The five-year change in the District is 16.06 percent.
These FHFA numbers do not break out metropolitan areas, but the District itself is included along with all 50 states.
Home values in Maryland are in line with national long-term gains, up 114.3 percent since 1991. Virginia’s gain in that same time period is 114.8 percent. Prices in both Maryland and Virginia are still lower than they were five years ago, by 14.99 percent and 9.19 percent respectively.Read the full story from the Washington Business Journal.