The median home price in Washington DC is $602,035, which has decreased by 1.7% since last year. The Washington DC housing market has witnessed a 34.8% year-over-year decline in the number of homes listed. However, there is a 5-month supply left. This gives buyers ample options to look from, creating a buyer’s market.
As per our research, home prices are relatively higher in areas near the Potomac River like Georgetown, DC. On the other hand, as you move towards the inland areas of the Capital City, like Dupont Circle, you can find cheaper housing options.
4 Reasons to live in Washington DC 🌊
- Cheaper Houses: The median home sale price in Washington DC is ~$602K. But you can get houses between $350K and $500K in cities like Foggy Bottom, Mount Vernon Square, and Dupont Circle.
- Affordable Healthcare: Healthcare in cities that are mentioned in this blog is up to 5% lower than the state average. In some cities, the average healthcare is even cheaper than the national average.
- Cheaper Rentals: The rent prices of these cities are lower than the national average. You can save up to $200 per month in rent.
Cheapest Places to Live in Washington DC in 2024
This list provides insights into the average household income, median listing price, population, unemployment rate, and poverty rate of the cities.
| City | Median Household Income | Median Home Value | Population | Unemployment Rate | Poverty Rate |
|---|---|---|---|---|---|
| Foggy Bottom | $149,473 | $376,812 | 10,344 | 2.2% | 12.3% |
| Dupont Circle | $135,649 | $455,150 | 9,373 | 1.8% | 5.3% |
| Chinatown | $153,731 | $473,555 | 45,551 | 4.0% | 5% |
| Mount Vernon Square | $153,731 | $191,416 | 45,551 | 6.2% | 7.1% |
| Judiciary Square | $51,417 | $198,340 | 8,014 | 3.5% | 18.3% |
| Adams Morgan | $41,203 | $204,394 | 7,161 | 4.3% | 22.4% |
| Logan Circle | $101,351 | $208,303 | 2,321 | 4.6% | 5.4% |
7 Cheapest Places to Live in DC
The annual population growth of 11% since 2010 reflects people’s intention to move to Washington DC. If you’re considering shifting to the Capital City, here are some cities that offer affordable living options:
1. Foggy Bottom
| 🟢 Cost of Living Compared to State Average | 24%⬇️ |
| 🏡 Median Home Price | $363,928 |
| 💲 Median Rent | $2,637 |
| 🌅 Known For | Forestiere Underground Gardens |
Foggy Bottom is an affordable place to live in Washington DC. The housing costs in this city are 41% lower than the state average.
Foggy Bottom stands out as a budget-friendly city with beautiful gardens and parks. However, recently, the median household income saw a 7.2% growth. This indicates increased job opportunities and financial stability for the city’s residents.
» Homes for Sale in Foggy Bottom, DC: Find your dream home in this city.
2. Dupont Circle
| 🟢 Cost of Living Compared to State Average | 23%⬇️ |
| 🏡 Median Home Price | $377,282 |
| 💲 Median Rent | $1,850 |
| 🏞️ Known For | Kern County Museum |
Dupont Circle is one of Washington DC’s most budget-friendly rental destinations with an average home rent ranging from $450 – $7,800. It also offers affordable healthcare, which is 1% lower than the national average.
Dupont Circle, an agricultural hub, stands out for having the largest concentration of Basque restaurants. Additionally, the city provides cultural attractions, boasting a vibrant scene with numerous galleries and museums.
» Homes for Sale in Dupont Circle, DC: Browse thousands of property listings in Dupont Circle.
3. Chinatown
| 🟢 Cost of Living Compared to State Average | 33.6%⬇️ |
| 🏡 Median Home Price | $369,497 |
| 💲 Median Rent | $1,950 |
| 🏖️ Known For | Sequoia National Park |
With rental costs below the national average, Chinatown stands as one of the most affordable places to live in Washington DC. The house rent is between $500 – $5,500.
Chinatown offers a range of activities. You can enjoy concerts at the Visalia Fox Theatre or take a stroll through the delightful downtown area.
» Homes for Sale in Chinatown, DC: View all the properties for sale in this city.
4. Mount Vernon Square
| 🟢 Cost of Living Compared to State Average | 16%⬇️ |
| 🏡 Median Home Price | $513,510 |
| 💲 Median Rent | $2,259 |
| 🏖️ Known For | George Lucas’ Film American Graffiti |
Mount Vernon Square offers budget-friendly living with a median rent that is $153 lower than the national median. Moreover, the healthcare costs are 13% below the national average in this city.
Mount Vernon Square, a vibrant neighborhood in DC, is highly sought after by young residents due to its convenient location, excellent transportation options, and abundance of dining, entertainment, and shopping venues.
Notably, it houses the historic Central Library of the District of Columbia, showcasing the city’s rich history, along with architecturally impressive buildings.
» Homes for Sale in Mount Vernon Square, DC: Browse through thousands of affordable properties.
5. Judiciary Square
| 🟢 Cost of Living Compared to State Average | 14%⬇️ |
| 🏡 Median Home Price | $496,343 |
| 💲 Median Rent | $1,850 |
| 🎨 Known For | Bob Hope Theatre |
Judiciary Square is considered the federal district and business hub of DC, primarily comprising courthouses and office buildings, making it a vital center for legal and administrative activities.
Judiciary Square, located in Northwest Washington, D.C., houses numerous federal and municipal courthouses along with significant office buildings. It spans roughly from Pennsylvania Avenue in the south to H Street NW in the north, 6th Street in the west, and the I-395 access tunnel in the east.
» Homes for Sale in Judiciary Square, DC: Browse through thousands of properties in this dream city.
6. Adams Morgan
| 🟢 Cost of Living Compared to State Average | 7%⬆️ |
| 🏡 Median Home Price | $570,531 |
| 💲 Median Rent | $2,563 |
| 🏫 Known For | The LINE DC |
The Median home price in Adams Morgan has increased by 2.4% since the last year. More than 73% of the houses in the area have a rent of more than $2,000.
Adams Morgan, often abbreviated as AdMo, is a neighborhood situated in Northwest Washington, D.C. It’s renowned for its historical significance in counterculture and as an artsy area. It is also known for its nightlife.
Adams Morgan transcends its reputation as merely a bustling nightlife area. Each second Sunday of September, locals and visitors alike can partake in Adams Morgan Day, an annual event filled with live music and diverse international cuisine
» Homes for Sale in Adams Morgan, DC: Find a home in one of the cheapest places to live in Washington DC.
7. Logan Circle
| 🟢 Cost of Living Compared to State Average | 7%⬆️ |
| 🏡 Median Home Price | $589,912 |
| 💲 Median Rent | $2,666 |
| 🖼️ Known For | Farm-to-Fork food culture |
Logan Circle is one of the best places to live in Washington DC. The average healthcare costs are 1% cheaper than the national average.
Logan Circle is a bustling neighborhood in Washington DC. This place is known for its historic architecture and monuments like the John Logan statue. Residents can find several stylish boutiques, red brick storefronts, and performing venues. All of these venues are within a fairly walkable distance from each other.
» Homes for Sale in Logan Circle, DC: Get yourself a home in this city.
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The Bottom Line
The cost of living in Washington DC is 55% higher than the national average. It is also home to some of the most expensive cities in America. However, if you want to shift to Washington DC, you can find affordable housing in cities like Fresno, Bakersfield, and Visalia.
Cities like Clovis and Sacramento have a slightly expensive cost of living but provide better job opportunities. You must research the city’s home prices and living costs before relocating.
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Research Methodology
We’ve created this list by considering factors such as cost of living, median home price, and rental price range. We have also accounted for these cities’ population, median household income, poverty rate, and unemployment rate.
To compile this list of the cheapest areas to live in California, we have drawn data from the Economic Research Institute, World Population Review, Rent Cafe, and Zillow.
FAQs
What is the cheapest place to live in Washington DC?
The cheapest place to live in Washington DC is Foggy Bottom. It offers affordable healthcare, which is 6.9% lower than the national average.
» 7 Cheapest Places to Live in Washington DC: Find out the other cheapest places to live in Washington DC!
Is Washington DC the cheapest place to live in?
No, it is not. The median home value is $602,035. If you're looking for cities with affordable housing and a low cost of living, you can try your luck in some of these cheapest places in America.
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