News4’s Erika Gonzalez takes a look at the cost of living near Amazon HQ2.
The hottest zipcode in the DMV just might be 22202, the soon-to-be site of Amazon's HQ2 at National Landing.
Amazon's move into Arlington County is a big deal for both buyers and sellers in the housing market. Amazon says it will hire 25,000 employees over the next decade. And while demand for housing in that area is high, inventory is low. The day we went looking, there were just 11 listings on Bright MLS.
Source: JBG Smith Properties
Credit: Anisa Holmes/NBC Washington
We went house-hunting in the area, viewing a condo, a townhouse and a single-family home, to see just what's available and at what price point. Here's what we found.
Condo: 2BD, 2BA: $650,000
First up is a condo at 3600 S. Glebe Road. With two bedrooms, two bathrooms and just over 1,000 square feet, it's listed at $650,000. It comes with 24-hour concierge service, a gym, a pool and sweeping city views. Ashleigh Wehmeyer with Compass realty is the listing agent on this property. She says the seller now has a long-term renter and thinks it would be great for an investor.
Townhouse: 3BD, 2.5BA: $879,000
The next property we saw was a townhouse at 1810 24th Street S., listed for $879,900. At more than 2,500 square feet, it has three bedrooms, two and a half bathrooms and includes an elevator. Kay Houghton of Kay Houghton and Associates showed us around this property. Note: The property has since sold.
Single-Family Home: 4BD, 3.5BA: $1.2 Million
The largest property and the most recently renovated is a home at 2710 S. Arlington Ridge Road, in the coveted Arlington Ridge area. The home includes four bedrooms, three and a half bathrooms and a finished basement. It's decked out with the most current trends and is priced just under $1.2 million. Justin Powers of Rosemont Real Estate is both the developer and the listing agent on the property.
What About Renters?
Of course, Amazon will attract employees at every level, and not everyone will want to buy. National Landing has rows and rows of apartments — from the more established to the bright and shiny new ones. One-bedroom apartments in the 22202 zip code can cost anywhere from $1,500 to $2,000 a month.
What If You Already Own?
Realtors say that if you plan on selling, things look good. Keep in mind, though, while you may make some money in this zipcode, you may turn around and find you've priced yourself out. Keep the long game in mind. "The Amazon effect" will happen over time.
