Quote:
Originally Posted by fitchesbass
LOL. DC area has some really good incomes - particularly in some of the burbs. Loudoun, Fairfax, and Howard along with Falls church, VA are at the top of the highest income counties (per median) income in the country.
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The Median household income for Washington D.C is $58,526, that's not extremely high, or even much higher than the national average of around $52,000.
http://quickfacts.census.gov/qfd/states/11000.html
The median sold price for a home is $449,000. We're talking a 7.6x income multiplier here.
Washington D.C is completely overpriced, and not a great deal according to empirical data, and economic fundamentals.