The quest for affordable housing is pushing buyers farther and farther out of the nation’s capital.
Jonathan Fox of the Washington Post reports that more distant suburbs have seen higher home value growth than nearer communities.
Montgomery County in Maryland and places such as Marshall, Lorton, and Middleburg in northern Virginia all had double-digit growth in median home prices last year. Popular nearby suburbs such as Chevy Chase, Md., and McLean, Va., experienced price drops in 2016.
As home prices and the cost of living continue to increase in Washington, there will be more demand for affordable housing which is often found in farther out regions of the counties. The buying demographic that can afford record-setting home prices naturally becomes smaller by the year as that record outpaces real incomes.