Washington, DC is the capital of the United States of America, and as such it is rich with history, attracting travelers from all over the world. In fact, in the United States, Washington, DC is the seventh most visited city in the entire country. Even spending entire months in this amazing city will never be enough to fully embrace and understand all that it has to offer.
So when you’re looking for land for sale in the United States, DC should be near the top of your list.
How Much is an Acre of Land in Washington, DC?
Washington, DC can be quite expensive to live in, with the cost of living estimated at 47% higher than the national average. As such, you can expect the land prices to be much higher than you might find elsewhere in the country. While the exact price of an acre of land in Washington, DC varies based on the exact area you’re looking at, you should expect the price to end up somewhere in the seven-figure range at minimum.
If that price is a little too steep for you, it’s possible to find cheaper options, but you might have to sacrifice things like walkability and location in order to get a property that meets your budget.
Who Owns the Most Land in DC?
Washington, DC is a major hub for government and military usage, so it should come as no surprise that nearly 30% of the total land in Washington, DC is owned by the federal government, adding up to around 12,000 acres of land. The number includes military buildings, government buildings, national parks, and nearly 85% of the shoreline. Interestingly, the second largest landowner in Washington, DC is the Catholic Church.
How Can I Live Cheaply in Washington, DC?
Living in Washington, DC is definitely expensive compared to many other parts of the country, but it is possible to live cheaply but comfortably. However, living well within your means in DC may mean having to sacrifice a few things here and there to make it work.
One thing that you can do in some areas of the city is give up your car, especially if monthly payments and insurance are eating away at your disposable income. While much of the country is still very car-dependent, Washington, DC has ample public transportation to help you get from place to place. While entirely giving up a vehicle may not be a viable option for everyone, it is still worth considering using public transportation whenever possible to save money on gas and repairing wear and tear on your vehicle.
Rent and mortgage payments in Washington, DC can be pretty steep and jarring to get used to if you’re moving from elsewhere, so when it comes to housing, you might have to get comfortable with a smaller space than you’re used to. If possible, you might want to consider getting some roommates to help share the load of housing expenses.
No matter what your financial situation is, it’s always a good idea to create a budget for yourself and stick to it, especially if you find yourself spending money on frivolous things or aren’t sure where all your money has gone by the end of the month.
Is Washington DC a Good Place to Buy Investment Property?
Yes! Buying land for sale or commercial properties in DC is very stable in general due to an abundance of military and government jobs in the area. With Washington, DC’s busy and active lifestyle, there are always going to be people drawn to move to the area and start businesses within the city.
Although only a little over 600,000 people reside within the limits of Washington, DC, tourism is thriving, and well over 1.6 million visitors came from all over the world to visit Washington, DC in 2023. Many people are drawn to the city for its history, with beautiful buildings and tours into major historical sites almost a daily occurrence. Others are more interested in the many museums that DC has to offer. And book lovers find solace in the Library of Congress, which boasts the biggest library in the entire world.
As you can see, no matter what type of investment property you’re planning to buy in Washington, DC, you’re sure to have lots of eyes on it throughout the year.
Properties such as vacation homes, hotels, and other forms of housing are likely to do quite well in this touristy city. But retail space investments are always needed wherever people can be found, so it’s hard to go wrong with any type of property. When you look for land for sale in Washington, DC, make sure that you collaborate with a real estate agent that understands the market and can help you get the best deal possible in this incredible and historic area.
Where Should I Look For District of Columbia Land for Sale?
There is certainly an abundance of real estate websites out there, but none are quite as straightforward and uncluttered as Nestfully. We aim to offer a unique and simple user experience that avoids the use of ads and other distracting information that could taint your experience.
We know that buying real estate for sale in Washington, DC can be an incredibly stressful and time consuming process, and we want our website to be a safe haven no matter where you are in the process. Try Nestfully today and see the difference.