No matter if you're a house hunter in search of a place to live or an investor seeking an apartment to rent out for yield the D.C. market is among the top places where you should put your money into this year, according to Forbes.
Forbes and Local Market Monitor recently worked together to analyses the real estate market and build a list of places where growth appears most sustainable, which means, according to the magazine, a place that "offers a rare combination of better than average job growth and some runway before homes become overpriced"
The final list included 20 markets that scored the best in terms of population, jobs and home prices growth. The D.C. area ranked 17th on the list.
Here's how the Washington D.C. area stacked up among key metrics:
- Average home price: $393,816
- 3-year population growth: 3.0%
- 2-year job growth: 3.9%
- 1-year home price growth: 5%
- 3-year price growth forecast: 11%
Here are the scores at the national level:
- Average home price: $283,900
- 3-year population growth: 2.6%
- 2-year job growth: 3.0%
- 1-year home price growth: 6%
- 3-year price growth forecast: 14%