Housing Complex

Graph: Comparing Home Values in Adams Morgan, U Street, Columbia Heights, Mt. Pleasant

Zillow Home Value Index

This graph exhibits the median “Zestimate valuation“—Zillow’s estimated market value of properties—for homes in these neighborhoods in the last five years. The values along the side of the graph–rather squished out right now, despite my best efforts–are $680 K to $380K. Here are the  current vlauations for each neighborhood: Columbia Heights: $ 406,200; Adams Morgan: $ 454,500; U Street: $ 429,300; Mount Pleasant: $ 601,400.

  • Anonymous

    I don't know how Zillow makes those estimates, but they clearly don't work well in neighborhoods like this where the values of houses can vary dramatically depending on condition and even a single block change in address.

    I own two houses, one in Columbia Heights and one in Petworth, bought in 2007 and 2008. I paid almost twice as much for the one in Columbia Heights. Both are within 1/2 mile of the metro (actually, the same metro, Petworth). Zillow's estimate of my cohi house (480) might be close but I still think it's high based on what I've seen. It's estimate of my Petworth house (400) is way off.

    The petworth valuation is the same as my tax assessment - 150k more than I paid for it and clearly wrong. If they are using tax assessments as a primary source for their estimates they really need to update that algorithm.

    Anyway, while I suspect aggregate data is closer to reality, it's still kind of crazy to say that a typical property in the U Street area is only worth about 15% more than a typical property in Columbia Heights.

    I guess I would just take all this with a grain of salt. If anything the differences are more indicative of the number of renovated versus run-down houses in each neighborhood. A fixed up townhouse in Adams Morgan will definitely get more than a similar townhouse in Mt. Pleasant, for example, despite the data above.

  • Loganer

    For this chart to be of value, it needs to be price per square foot. Homes (condos) on average are likely smaller along U Street than the other areas.