Real Estate Showdown: Philly vs. D.C.
Sitting about 140 miles apart, Philadelphia and Washington D.C. have their own unique perks, cultures, and amenities, but they couldn’t be more different when it comes to real estate. Our team has gathered the info on all things real estate between D.C. and Philly, and you won’t believe the numbers we found!
Average Price Per Square Foot:*
$180/SqFt = Philadelphia City Average
Most Expensive Neighborhood (Rittenhouse Square) = $505/SqFt
VS.
$552/SqFt = Washington DC Average
Most Expensive Neighborhood (Georgetown) = $630/SqFt
Median Home Price:*
$234,000 = Philadelphia City Average
Most Expensive Neighborhood (Rittenhouse Square) = $559,950
VS.
$599,900= Washington DC Average
Most Expensive Neighborhood (Georgetown) = $1,450,000
Property Taxes:
Property taxes are based on the assessed value of your home, so the amount can vary. The average effective tax rates differ between the two cities by over 0.40% (DC = 0.55% and Philly = 0.98%), however it’s important to consider that in DC, the median real estate property tax payment is $2,930, which is the 14th highest mark in the U.S. Another perk to living in Philly is that Philadelphia currently offers 10 year tax abatements on new construction and improvements!
Average Days on Market:
This is important for sellers, buyers, and investors! The quicker properties move, the better price a seller can get, and the faster a buyer has to move! Properties move relatively quickly in Philly, but D.C. properties tend to move faster and at a much higher price.
49 Days = Philadelphia Average (and 58 days in Rittenhouse Square!)
26 Days = Washington DC Average (and 38.5 days in Georgetown!)
1 Bedroom Listings:
Dupont Circle, D.C
$615,000
1 Bedroom | 1 Bathroom |780 SqF.
Logan Square, Philadelphia
$325,000
1 Bedroom |1 Bath | 750SqFt
2 Bedroom Listings:
Logan Circle, D.C.
$729,900
2 Bedroom | 2 Bathroom | 984 SqFt
Old City, Philadelphia
$415,000
2 Bedroom | 2 Bathroom | 916 SqFt
Mount Vernon Triangle, D.C
$759,900
2 Bedroom | 1 Bathroom |1,013 SqFt
Fishtown, Philadelphia
$495,000
2 Bedroom | 2 Bathroom | 1,123 SqFt
4 Bedroom Listings:
Capitol Hill, D.C.
$1,899,999
4 Bedroom | 4.5 Bath | 3,051 SqFt
Manayunk, Philadelphia
$659,000
4 Bedroom | 4.5 Bath | 2,750 SqFt
6 Bedroom Listings:
Georgetown West Village, D.C.
$5,300,000
6 Bedroom | 6.5 Bath | 4,298 SqFt
Rittenhouse Square,
Philadelphia
$3,680,000
6 Bedroom | 6 Bath | 8,095 SqFt
Want to discover luxury living in Philadelphia?
Venture Philly Group
Buy. Sell. Invest.
o. 215.592.9522
1619 Walnut Street, Suite 500, Philadelphia, PA
