Living On $80K A Year In Washington, DC
- Thread starter thismybgolname
- Start date
The district.
That’s doable.
Shes full of shit with that home price. Everything in Shaw is 800k.
The program is HPAP (go to dcgov for details). It was intended to assist middle income residents in home purchasing with a benefit going to minorities. But it's backfired due to high median income levels. You now need to be making 100k to qualify so its difficult for those who need it most.
Yea.. Because she miraculously has a 160k mortgage. Good luck getting one of those.
100k to qualify? Sounds like assistance to single white folks.
I was in the Shaw neighborhood last night as I went to a concert at the Howard Theater. Parking by the McDonald's and walking on 8th street, I was like when did all this shit get put up? They basically built a high rise on top of the Shaw metro.
It can be done. I seriously wished I had bought a couple of houses in the early 2000s.
She said she used a program that helped her with the home.
I know she used the program but a house in the Shaw neighborhood for $250K isn't possible.
I actually can't think of any home in the city for 250k. That ho is beyond a liar.
It was a rehab that the city sold for $250k and she was chosen thru a lottery
On the house…
“It was a blighted property in a historic district on N Street, by the Convention Center, and then the city rebuilt the house. I loved it—it’s a rowhome, two bedrooms, two-and-a-half bathrooms, everything is renovated. I have a backyard with off-street parking. It’s got grass for my dog to play. My sister still lives with me.”
“The city decided to sell the home at an affordable price of $250,000. But I had a Home Purchasing Assistance Program grant of about $64,000 and I was also able to put down about $13,000 of my own savings, so my mortgage ended up being $175,000.”
“If your income falls within a certain track, you don’t have to pay interest on your mortgage. When I started the program, I was making close to $42,000, so my mortgage is under $800 a month.”
This Is Me: How I Bought a House in Shaw on a $250,000 Budget - Washingtonian
This Is Me is a new column in which we speak to Washingtonians who have a unique story to tell. Did you leave your job on the Hill to become a bartender? Did you used to work as an escort? Do you support yourself as a social influencer? We want to hear all of your
www.washingtonian.com
Is 80k not considered decent money for a single person in DC?
Goodbye chocolate city...The last bastion of nubian community is across the river in SE. And the gentrification has begun over there as well.
Not when the average rent is $1900-$2500 per month. And some of the houses there are going for a $1 million plus. These same houses in some areas were crackhouses 30 years ago, much like NYC homes now in Harlem and Brooklyn.
If you're a renter then yes. Homeowner, hell no. One thing I got from reading the article was she started taking care of her mother and claimed her on her taxes plus her sister was in high school. That's basically a 3-person household at that point which would be low income for D.C.
There is affordable housing in the burbs but it will involve a car + public transportation if you're working in D.C.
I could not imagine living in the DMV on less than 150K a year.
Last edited:
The Little Brother show?? How was it? I went to see Pharoahe Monche at the Kennedy Center
i didnt watch yet, but i bought in shaw for less than that, but it was right before gentrification.
Ok.. That clears it up. Knew there was alot of funny shit going on.It was a rehab that the city sold for $250k and she was chosen thru a lottery
On the house…
“It was a blighted property in a historic district on N Street, by the Convention Center, and then the city rebuilt the house. I loved it—it’s a rowhome, two bedrooms, two-and-a-half bathrooms, everything is renovated. I have a backyard with off-street parking. It’s got grass for my dog to play. My sister still lives with me.”
“The city decided to sell the home at an affordable price of $250,000. But I had a Home Purchasing Assistance Program grant of about $64,000 and I was also able to put down about $13,000 of my own savings, so my mortgage ended up being $175,000.”
“If your income falls within a certain track, you don’t have to pay interest on your mortgage. When I started the program, I was making close to $42,000, so my mortgage is under $800 a month.”
This Is Me: How I Bought a House in Shaw on a $250,000 Budget - Washingtonian
This Is Me is a new column in which we speak to Washingtonians who have a unique story to tell. Did you leave your job on the Hill to become a bartender? Did you used to work as an escort? Do you support yourself as a social influencer? We want to hear all of your
waterfront property in SE will end up being some of the highest priced real estate in the city. once they fully clean the anacostia, anything close to the water will be crazy. like brooklyn heights.
She basically lucked up on those city programs for low income ppl looking to buy homes in D.C. More power to her though. She has a $800/month mortgage on a house that's worth at least $550k-$700k now. Props to her.
That's what I'm wondering.. first it says she makes 80k, then it says her take-home is $6200/month which is 75k. She only pay 5k in taxes??
unless foreclosure
Hopefully she can afford the taxes for the property. I wonder what the property tax rate is out there?
She's taxed on the $250k (+ incremental % annual assessment increases) due to how the property is classified with the city, not the true value. DC residential tax is $0.85 per $100
Last edited:
It was excellent. Knowing the risk of them not performing again I didn't want to miss it
I know people living in DC and The DMV making 50k doing just fine
it's always like that... Natives know loopholes , transplants get screwed over... That's the name of the game in every state
Fairfax here (DC suburb). 80k can be decent depending on how you live.
Live in the city, high ass rent, no car (Uber/metro), no car insurance. Live in the burbs, medium-high ass rent, car stuck in traffic all day erreday, poss. tolls.