The Examiner reported today on new census data that puts the DC’s median income at $52,000. But what is most striking is the economic divide between the city’s black and white citizens.
“Nearly 80 percent of the 108,000 District residents who live below the poverty line are black…. [The] median income for white residents was $88,969, while median income for blacks was $34,484.”
That really got me thinking … $34,484 per year… at a time when real estate in DC is all about new construction, upgrades and renovation… where do these people live when the average monthly rent for a one-bedroom apartment is $1100???
I covet the floor plans at 22West, a new building going up at the corner of New Hampshire and M Streets, NW. Construction isn’t finished yet and already 50 percent of the units have been sold. Pricing for a 948 s.f. one-bedroom apartment starts at $765,500.
How does the average white resident making $88,969 a year afford that, much less your average black resident?
I’m just whining because though I make more than my parents salaries combined when they were my age, I will never afford to buy a three-bedroom 1900 sf anything. And if I feel this hopeless of ever owning a little patch of DC, how does the person bringing in $34,484 feel?