Washington DC Cost of Living [2023] | 💰 Can You Afford Washington DC? [Data] (2024)

FAQs

What salary is needed to live in Washington, DC? ›

Smart Asset recently reported that you would need to earn $133,000 gross to afford average Washington, DC rent prices. A report by the National Low Income Housing Coalition in 2019 found that the average renter in the District of Columbia earns $28.57 per hour.

The D.C. region's cost of living ranks fourth-highest among the 100 metropolitan areas that ApartmentList studied. “When we look at Washington, D.C., the overall cost of living is 53% higher than the national average. The housing component, though, is 144% higher than the national average,” Salviati said.

Highest Top 1% Household Income: Washington, D.C. – $983,500.00.

Nationwide, a national salary range for a three-person household was around $52,000 to $156,000. Mississippi has the lowest middle-class salary threshold, $32,640, followed by West Virginia ($34,336 and Louisiana ($34,898). The nation's median household income was $70,784 in 2021, according to census data.

Hyattsville is one of the best places to live near DC, thanks to its affordability and proximity to America's Capital. Located just across the District of Columbia-Maryland line, Hyattsville is about as close to Washington, DC as you can get before you run into sky-high housing prices.

You Need About $143,000 to Live Comfortably in Washington, DC. To live comfortably in U.S. capital, you'll need to earn around $143,200 if you're paying a mortgage and $122,900 if you're renting. That's an increase of 50.8% and 30.4%, respectively, since 2016. And it's not just rent that's increased.

Section 47-1801.04(17) of the DC Official Code describes a statutory resident as any individual who maintains a place of abode within the District for an aggregate of 183 days or more during the taxable year, whether or not such individual is domiciled in the District.

What is the average electric bill in DC? ›

The average monthly energy bill in D.C. is around $100. That's cheaper than the national average. When it comes to electricity bills, further research has shown that, once again, D.C. is less expensive than some other U.S. cities.

Monthly electric bills are a product of how much electricity you use per month and your electric rate. In Washington D.C., the average monthly electric bill for residential customers is $110/month, which is calculated by multiplying the average monthly consumption by the average electric rate: 815 kWh * 14 ¢/kWh.

$630,778. The average Washington home value is $630,778, down 5.1% over the past year and goes to pending in around 17 days.

The cost of living in Orlando, FL is -28.2% lower than in Washington, DC. You would have to earn a salary of $43,051 to maintain your current standard of living.

The cost of living in San Francisco, CA is 28.5% higher than in Washington, DC. You would have to earn a salary of $77,082 to maintain your current standard of living. Employers in San Francisco, CA typically pay 12.3% more than employeers in Washington, DC.

The cost of living in Washington, DC is 29.8% higher than in Baltimore, MD. You would have to earn a salary of $77,884 to maintain your current standard of living. Employers in Washington, DC typically pay 8.3% more than employeers in Baltimore, MD.

The minimum annual income needed to crack D.C.'s top 1% is $598,155, which is about 40% higher than the national threshold of $421,926. And, GOBankingRates notes, “although it's not technically a state, residents of the nation's capital earn the highest average salary anywhere in the country, at $116,090.”

Residents aged 25 to 44 earn $109,135, while those between 45 and 64 years old have a median wage of $97,226. In contrast, people younger than 25 and those older than 65 earn less, at $46,853 and $64,232, respectively.

The Pew Research Center defines the middle class as households that earn between two-thirds and double the median U.S. household income, which was $65,000 in 2021, according to the U.S. Census Bureau.

One objective way some researchers divide individuals into economic classes is by looking at their incomes. From that data, they split earners into different classes: poor, lower-middle class, middle class, upper-middle class and wealthy.

What is considered middle class 2023? ›

The median household income of $104,802 sits comfortably in the middle class range of $70,217 and $209,604 per year.

Cost of Living Comparison Between Los Angeles, CA and Washington, DC. You would need around 7,165.0$ in Washington, DC to maintain the same standard of life that you can have with 7,100.0$ in Los Angeles, CA (assuming you rent in both cities).

Where to Live if You Work in DC: Arlington, VA. Arlington remains an incredibly popular suburb for commuting thanks to its close proximity to DC. Lots of green space, a thriving bar/restaurant scene, and a unique local culture have made this a hot area.

#1: Adelphi, MD

Just about a 35-minute drive away from Washington, DC, you won't miss out on what the city has to offer. If you're considering moving to Adelphi, check out all the local businesses, parks, and hidden gems that make this suburb great.

The law limits rent increases to the rate of inflation plus 2 percent, and not more than 10 percent. By law, the Rental Housing Commission does not assess whether its determination on allowable rent increases is affordable for D.C. residents.

The data used in the study analyzed the cost of living in each city as of 2022. For California cities like Los Angeles, Berkeley and San Diego, a single person must make more than $76,000 to “live comfortably,” the data shows.

One study said happiness peaked at $75,000 in income.

How much does a Highest make in Washington, DC? As of May 13, 2023, the average annual pay for the Highest jobs category in Washington is $93,250 a year. Just in case you need a simple salary calculator, that works out to be approximately $44.83 an hour. This is the equivalent of $1,793/week or $7,770/month.

All real property, unless expressly exempted, is subject to the real property tax and is assessed at 100% of market value. The District of Columbia has four property classes: Class 1 – improved residential real property that is occupied and is used exclusively for nontransient residential dwelling purposes.

How much are residents of DC taxed? ›

The District of Columbia (DC) has a graduated individual income tax, with rates ranging from 4.00 percent to 10.75 percent. DC has a flat 8.25 percent corporate income tax rate. DC also has a 6.00 percent sales tax rate. DC's tax system ranks 48th overall on our 2023 State Business Tax Climate Index.

At the grocery store, D.C. residents can expect to pay 10% more than the national average. The average monthly grocery bill in Washington is $304. If this sounds like a lot, consider that grocery prices in D.C. are 27% less than in New York City, and similar to prices in Seattle and Chicago.

Food in Washington, D.C.

Groceries in D.C. aren't as expensive as they are in New York, but they're far from cheap. Numbeo.com's May 2019 data estimates a recommended minimum amount of money for food in D.C. at $15.20 a day, or $471.28 a month. The national average is $324.20.

The 30% rule has been a popular way to figure out how much you should be spending on rent. This rule says you should be spending about 30% of your before-tax income or less on rent. If you earn $5,500 per month in income before taxes, you should be spending $1,650 or less each month on rent.

A good salary in Washington, DC is anything over $72,000. That's because the median income in Washington is $72,000, which means if you earn more than that you're earning more than 50% of the people living in Washington. The average salary in Washington is $84,081. A good hourly wage in Washington is $34.62 per hour.

Absolutely, depending on what your definition of “comfortable" is. I make something on the low end of that range, live in a 2 bedroom apartment (with a roommate) in a quiet neighborhood in DC proper. My room is huge by DC standards. With all utilities included, I never pay more than $1500 a month.

Yes DC is an expensive place, but how expensive is all about the options you choose. Around $70,000 is the point in DC where you have a lot of options available to you. You can live in the trendy neighborhood with roommates or you can live a bit further away but on your own.