In recent years, demand for housing in D.C. has outpaced the number of affordable homes available to rent or own. A new plan aims to address the issue and increase affordable housing by 25% by 2030.
With the District’s population expected to top 1 million in the coming decades, the city has unveiled its “Resilient DC” report to address issues that exist now and loom in the near future.
The issue was in question because growth in the D.C. region by 2045 is expected to lead to a housing shortfall beyond what localities already are planning to build.
By 2045 the D.C. region will see an additional 990,000 new jobs. But unless there’s a push to build new housing, the employees coming to fill those jobs will struggle to find a place to live.
For many millennials in the D.C. area, there are a number of barriers holding back their homebuying process, such as student loan debt, inability to make the down payment, and overall affordability issues in an increasingly expensive housing market.
The project on 14th Street includes 35 short-term family housing apartment-style units and 15 permanent units for low-income seniors.
Clinton Yates’ morning got off to a very sobering start, when he saw an eviction.
With prices at or near new highs, why are there so few residential properties on the market, especially in the first-time buyer market?
Despite widespread bidding wars in the District’s housing market, the price growth in the Washington metro region lags behind other big cities.
In these six hot D.C. neighborhoods, homebuyers paid more than the asking price last month.
When it comes to how much a person’s income goes toward a mortgage or rent in America’s largest cities, D.C. isn’t the best, but it is far from the worst.
RealtyTrac released its 2016 Rental Affordability Analysis and found that average rent the D.C. region requires more than 60 percent of average wages. See how other areas stack up in an interactive map.
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