Southwest Waterfront, Washington, DC—20024
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Southwest Waterfront, Washington, DC
As of Oct '25, the median home price in Southwest Waterfront, Washington, DC is $392,000, with a year-over-year change of -4.9%. This indicates that home prices in Southwest Waterfront, Washington, DC are decreasing. According to Zillow, the 1-year price projection is -0.2%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $392,000 | -4.9% |
| Single Family | $653,000 | -6.4% |
| Condos | $331,000 | -4.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $304,000 | -4.7% |
2 Bed | $549,000 | -5.7% |
3 Bed | $760,000 | -6.3% |
4 Bed | $960,000 | -6.3% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Southwest Waterfront, Washington, DC
As of July '25, Rentcast reports the average rent in Southwest Waterfront, Washington, DC is $2,660, with a year-over-year rent change of -2.2%. Per bedroom, the median rent as of July '25 in Southwest Waterfront, Washington, DC is studios: $1,820, 1-bedrooms: $2,400, 2-bedrooms: $3,740, 3-bedrooms: $4,450, 4-bedrooms: $4,620. The most common rental property sizes in Southwest Waterfront, Washington, DC are 1-bedroom and 2-bedroom, accounting for 48.2% and 25.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,250 | $2,660 |
| Studio Rent | $1,800 | $1,820 |
| 1 Bed Rent | $2,250 | $2,400 |
| 2 Bed Rent | $3,200 | $3,740 |
| 3 Bed Rent | $4,500 | $4,450 |
| 4 Bed Rent | $4,800 | $4,620 |
% of Rental Stock
Property Listings — Southwest Waterfront, Washington, DC
As of Oct '25, Realtor.com reports that the median days on market for a home in Southwest Waterfront, Washington, DC is 45. This is a decrease of -16.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $402,000 | -5.0% |
Listing Count | 129 | -4.0% |
| Listings as % of Homes | 0.6% | -4.0% |
Days on Market | 45 | -16.0% |
Demographics — Southwest Waterfront, Washington, DC
As of the latest ACS Survey released in 2023, Southwest Waterfront, Washington, DC has a population of 16,200, which has increased by 21.3% over the past 5 years. Southwest Waterfront, Washington, DC is a less popular place for families, as children make up 12.0% of the population. The area has a highly educated workforce, with 69.8% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 32.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 16,200 | 21.3% |
% Under 18 | 12.0% | 16.5% |
% Seniors | 13.7% | -17.0% |
% WFH | 32.2% | 455.2% |
% w/ College Degree | 69.8% | -1.7% |
As of the latest ACS Survey released in 2023, Southwest Waterfront, Washington, DC is a predominantly black area, with 41.2% of the population identifying as black. The black population has shrunk by 3.1% in the last 5 years. The second most common race or ethnicity in Southwest Waterfront, Washington, DC is white, making up 40.9% of the population. Foreign-born residents account for 9.7% of the population in Southwest Waterfront, Washington, DC, and this percentage has decreased by 14.9% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 40.9% | -7.3% |
% Black | 41.2% | -3.1% |
% Hispanic | 9.1% | 49.2% |
% Asian | 4.1% | -10.9% |
% Foreign Born | 9.7% | -14.9% |
Mortgage and Risk — Southwest Waterfront, Washington, DC
According to HUD data as of 2023, there were 181 mortgage originations in Southwest Waterfront, Washington, DC, of which 91.0% of loans were conventional mortgages. The average loan-to-value was 74.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in Southwest Waterfront, Washington, DC. Investor activity is low, as 6.0% of loans were by investors. 4.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 181 |
% Conventional Loans | 91.0% |
% Government Loans | 9.0% |
% Investor Loans | 6.0% |
% Second Loans | 7.0% |
% Cash Out Refinance | 4.0% |
Loan Activity
Rentals and Section 8 — Southwest Waterfront, Washington, DC
As of 2024, the percent of homes in Southwest Waterfront, Washington, DC under the Section 8 program is 11.3%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Southwest Waterfront, Washington, DC, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,725 |
Total Units Section 8 | 845 |
% Rentals under Section 8 | 11.3% |
% Occupied Section 8 | 69.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $10 | $2,250 | $2,260 |
| 2 Bedroom | -$660 | $3,200 | $2,540 |
| 3 Bedroom | -$1,320 | $4,500 | $3,180 |
| 4 Bedroom | -$1,050 | $4,800 | $3,750 |
Affordability — Southwest Waterfront, Washington, DC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.2 |
| Median Home Price | $392,000 |
| Median Household Income | $103,000 |