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Population is Up in DC but Housing Supply is Slow to Match Growth
Are you looking for a new home in the DC metro area? Depending on the type of home you are looking for - condo or coop versus single family or townhome - and the price range with which you are most comfortable, you may have to adjust your search to a different part of the region.
"State of the Capital Region" is a new report which tracks how residential development post-2000 has impacted pricing and affordability in the greater DC area. An unsurprising finding is that the metropolitan region has added twice as many people as housing units since , ratcheting up the cost of housing.
The report, which was coauthored by the Brookings Institute, looks carefully at the location of the growth in housing starts since 2000, the type of housing being built in various locations and the cost of that housing in comparison with the mean income of the region.
Exurban areas have led the region in housing starts since 2000 with 45 percent. Most of the housing built since 2000 has been in exurban areas, with 45 percent more housing added compared to a 15 percent increase in the urban and suburban areas. Loudoun County, for example, built as much new housing as DC ... more
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