Topping the list are neighborhoods like Trinidad, the northern section of Capitol Hill, Kingman Park, Eckington and Union Market. Also notable, in the section of the city from Park View to Mount Pleasant median home values took the second-biggest leap observed in DC.
In light of a new Zillow report on how home values in various zip codes have recovered post-housing bubble, UrbanTurf is taking a look at how far home values in DC have come based on where they are located.
Leading the way in DC is the 20002 zip code, which includes neighborhoods like Trinidad, the northern section of Capitol Hill, Kingman Park, Eckington as well as Union Market. 20002 has seen both the largest share of properties recovering to peak housing values, and the largest home price increases in the city.
The 20024 and 20017 zip codes had nearly the same share of homes recovering to peak values, at 98.9 and 98.8 percent respectively. What separates the two are the jump in property values: in the former, which encompasses the majority of the Southwest quadrant to include the Wharf development, median home values have risen by 26 percent, while in the latter, which includes a swath of Northeast between Michigan Park and Brookland, the median home value rose by 45.7 percent.
Another stand-out zip code for home prices is 20010, which is a narrow section of the city from Park View to Mount Pleasant. Appreciating by 64 percent from the peak of the housing bubble, median home values here took the second-biggest leap observed in DC proper.
Metro-wide, housing values still have not yet reached the highs of the housing bubble, remaining, at $401,000, nearly 8 percent below the peak. Housing values from the report are from the Zillow Home Value Index; the bubble housing values have not been adjusted for inflation.