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[quote=Anonymous][quote=Anonymous][quote=Anonymous]The median price of a house in the DC metro region is 475,00.  If two members of a household are GS 13s (and chances are one would go higher at least eventually) then they might have a 190,000 income.

That fed famly might pay 2400 PITI for that median home.
[/quote]

The "DC metro area" extends as far as West Virginia, but realistically, the only areas that matter when we're talking about affordability are those that are within a reasonable commuting distance (less than an hour) from downtown DC.

I'm a single government employee looking to purchase a condo. It's very difficult to find a one-bedroom condo in DC that is $2400 all-in. A typical listing is $500k plus monthly condo fees of $500+. Let's not talk about two bedrooms or even one bedroom + den. I'm looking at monthly expenses of $3000+, which is a loooooong stretch on my $100k salary.

Using your $190,000 example and typical affordability guidelines, that dual income GS-13 couple should not spend more than 3-4x their income, or $760k for a home.

The run-down 2br/1ba row houses in NE/SE that sold for $300k ten years ago are now having bidding wars at $760k. Out of reach for a single government employee, and not quite large enough for a family. But there are plenty of flippers and high-earning, non-fed DINKs who continue to push those prices higher and higher.

[b]I also think that people who purchased during 2008-2015 have NO idea how wacky things have become. [/b]When I tell my coworkers that I pay $2500 for rent on a one-bedroom apartment, they laugh at me for wasting money and say that their mortgage on their 3br SFH in Falls Church is less than that. Good luck finding anything even remotely close to that in the same neighborhoods in 2019.[/quote]

I honestly think that this is part of the reason 90% of the USDA scientists are so pissed about the relocation.

They know they're going to take a paycut if they go to Kansas and they can't afford a house there AND keep the house in the D.C. market which is infinitely more valuable.

So they have to sell it. And then the cycle basically ensures if they come back to D.C. there's no way they can afford to buy-in again.

Not with prices continuously escalating and a lower salary eliminating the ability to make hefty downpayments. They're screwed.[/quote]

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