DC Market Is CRAZY!! 300k Will Get You Nothing

[Ben Payano]

Hello,

The DC/Northern VA market is going absolutely insane due to Amazon's HQ2 and it's causing a tough situation for regular home buyers. I'm looking for some suggestions on whether I should buy or not and where. There is a neighborhood that's in proximity to everything called South East Washington (Anacostia) that seems to be known as a ghetto/very bad area. Would anyone suggest to invest in this area? Would you gamble?

Details I'm looking at: Budget is 350k; 3+ BR, 2+ BA; Single-Family Home or Townhome; Low HOA; Also looking to rent rooms (House Hack).

[Russell Brazil]

DC has the highest incomes in the entire country....but is only about the 5th or 6th most expensive, so DC is actually a pretty good value. Housing trades at only 4.5x income, far below Boston, NYC, Seattle, San Fran, LA etc.

Anacostia is high risk high reward. Last 3 years has had the highest appreciation in the area, but with that comes high risk (relativel to the area)