HOUSINGNEWS REPORT
WILL AMAZON SAVE THE SWAMP?
residence. Located in the Kalorama neighborhood, and made up of two homes on the National Register of Historic Places totaling a combined 27,000 square feet, when renovated it will be the largest home in the nation’s capital. Best for Housing Not all Amazon employees have a multi-million dollar budget for buying a home, so Housing News Report looked at median home prices and six other factors affecting housing and quality of life in each of the three D.C.-area markets to determine which might be most appealing for prospective homebuyers and homeowners. Among the three HQ2 candidates in the region, Northern Virginia — comprised of 15 counties and cities in the D.C. metropolitan statistical area — had the lowest median home price at $390,000 followed by Montgomery County, Maryland at $400,000 and the
District itself at $520,000, according to ATTOM Data Solutions.
County ranked No. 2 on the list behind Raleigh, North Carolina, making it highest among the three in the D.C. metro area. Northern Virginia ranked No. 9 on the list and the District ranked No. 17. If any of the three local venues are chosen to house the new HQ2, it could be a game changer to that area’s economy and housing market, bringing as many as 50,000 jobs and increased demand for more housing.
But homes were more affordable in Montgomery County thanks to higher wages there, according to an ATTOM Data Solutions analysis of price-to- income ratios. Based on all seven factors considered in the housing and quality-of-life analysis — home prices, appreciation, affordability, school scores, crime rates, property taxes and environmental hazards — Montgomery
CONTINUED ON NEXT PAGE
“We have the kind of talent in the categories (Amazon is) looking for. It would be good for this economy. It would diversify it and it would attract other businesses.”
STEPHEN FULLER DIRECTOR, STEPHEN S. FULLER INSTITUTE FOR RESEARCH, GEORGE MASON UNIVERSITY.
AMAZON HQ2 FINAL 20 CITIES REAL ESTATE MARKET RANKINGS
City
State
Q4 2017 Median Home Price
5-Year Home Price Appreciation
Price to Income Ratio (Affordability)
Avg School Score
Crime Rate to Natl Avg
Raleigh
North Carolina
$235,000 $400,000 $220,000 $346,500 $150,000 $361,000 $275,000 $138,000 $395,000 $284,619 $130,000 $285,000 $776,000 $140,000 $223,000 $204,000 $520,000 $1,445,000 $670,000
26%
3.69 3.59 3.68 5.86 2.55 4.93 5.16 2.89 3.83 5.21 2.60
1.13 1.17 0.99 0.92 1.06 1.06 0.87 0.85 1.04 0.93 0.81 0.95 0.85 0.65 0.92 0.52 1.17 1.09 0.60
95.99 33.93
Montgomery County Maryland
8%
Atlanta Denver
Georgia Colorado
69% 73% 36% 67% 52% 14% 16% 71% 88% 27% 48% 69% 21% 41% 50% 114% 246%
303.28 179.28 214.60
Pittsburgh
Pennsylvania
Austin
Texas
98.00
Nashville Columbus
Tennessee
125.98 189.53
Ohio
Northern Virginia
Virginia
52.66
Dallas
Texas
193.66 286.73 232.69 142.55 256.21 231.14
Indianapolis
Indiana Florida
Miami
5.77
Los Angeles Philadelphia
California
14.51
Pennsylvania
3.09 4.43 6.47 6.47
Chicago Newark
Illinois
New Jersey
42.42
Washington
District of Columbia
315.97
New York
New York
14.79
82.33
Boston
Massachusetts
9.57
115.21
CLICK HERE TO SEE THE ENTIRE TABLE
12
MAY 2018 | ATTOM DATA SOLUTIONS
Made with FlippingBook Online newsletter