D.C. Residents Report 'Residential Instability'
"In increasingly expensive D.C., about 20% of residents in Wards 7 and 8 anticipate needing to move in the next three years because they will be unable to afford their home," reports Tasna Khademian.
Khademian is sharing the results of a survey recently conducted by the Office of the Deputy Mayor for Planning and Economic Development, in collaboration with The Lab @ DC, a team in the Office of the City Administrator that conducts surveys and research to improve policy making.
Residents of other parts of the District also report housing pressure, though at lower levels. "For example, 12% of those who live in Ward 5 and 9% of residents in Ward 4 also say they expect they will need to move in three years because of an inability to pay their landlord or bank," reports Khademian.
"But the worry is greatest in Ward 7 and 8, where 19 and 21% of residents, respectively, reported that they are “somewhat likely” or 'very likely' to need to find a new home within three years."
The article includes more findings from the survey, and the con sequences of the understanding about the D.C. real estate market that emerges from the data.