(Updated at 4:20 p.m.) Arlington’s millennials have mixed reactions about buying a house in the county some day.
About 36 percent of current U.S. home buyers across the nation are millennials, or those who are under 37 years old, according to a National Association of Realtors survey.
But Eli Tucker, an Arlington-based realtor who also writes an ARLnow column, doesn’t think that home buying trend studies are accurate, because of the different life changes that people aged 20 through 37 face. Two-thirds of Tucker’s clientele is considered millennial-aged and those ages 20-34 make up about a third of Arlington’s population.
“Absolutely, those millennials that are in their thirties and have children and are starting a family have zero interest in a condo,” Tucker said. “But you talk to somebody who is 25 or 26, they have zero interest in being in anything other than a condo — but they’re both millennials.”
The cost of housing in Arlington doesn’t help.
The average cost of an Arlington single-family home is $950,000, while a townhouse costs $650,000 on average, and a condo will, on average, take a $425,000 bite out of your wallet, according to numbers cited by Tucker.
Courthouse resident, Elvin Lee, 25, already owns a condo in Arlington, something he says he couldn’t have done if he didn’t live with his parents for the first two years out of college.
Lee said he could see himself purchasing a house one day, but not until much later when he wants to start a family.
Another Arlington millennial, Adam DeSanctis, 31, and his wife want to buy a home in Arlington, but he says that the county’s pricy real estate market it too difficult to jump into.
“The area desperately needs more entry-level new home construction (single-family and condos) to keep affordability in check — especially as mortgage rates rise,” DeSanctis said via email.
Though home purchases by millennials increased by two percent over the past year, the NAR study found that millennials’ overall activity was subdued due to higher housing costs causing some to continue staying in their family’s homes.
“Home prices have rapidly increased in many communities [nationwide]” said Jessica Lautz, NAR’s survey research and communications director. “The D.C. area is no exception to that.”
Massive amount of student loan debt nationwide is contributing to the problem, said Lautz. Though the study found that millennials were more likely to have higher household incomes than past generations their age, 46 percent had student debt. The median student loan debt is $27,000.
The concern is mitigated somewhat in Arlington as salaries are higher than other communities, Lautz added.
For Kelly Kuang, 22, who just moved into a Shirlington rental apartment, she probably won’t be buying in Arlington. Her parents want her to buy a townhouse with her brother in the near future and it will likely be in a less expensive community.
“Just to be honest, Arlington is a great area from what I’ve heard, but it’s crazy expensive,” Kuang said.
Patrick Muggil, 21, who currently plans to live with his family in Pentagon City after working for a year, said he plans to save up for a house over the course of five to 10 years.
“I love the county so much that I definitely to make it work somewhere,” said Muggil. “I want to stay a long time.”
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Synetic Theater Camps are a wildly fun, highly accessible choice for young people who love moving, playing games, and making memories. Registration is open now for Summer Camps (sessions June 20-August 25) and there are even a few spots left for Spring Break camp, April 3-7.
Located in National Landing, these performance-based camps are designed for students of all ages – no theater or performance experience required.
Led by professional teaching artists, campers learn acting, movement, and technical theater skills through the lens of Physical Theater. Physical Theater incorporates acting, movement, dance, mime, and acrobatics. If you’ve seen a Cirque du Soleil performance, you’ll find many similarities.
Most first-time campers are new to the performing arts, and teaching artists are well-versed in engaging students at all levels. Parents and campers report that one of the best parts of Synetic is the community, with many families returning year after year because they feel a strong sense of belonging.
EDBS Dental Billing Solutions is pleased to announce that it has achieved compliance with the federally mandated standards of the Health Insurance Portability and Accountability Act (HIPAA) through the use of Compliancy Group’s proprietary HIPAA methodology, The Guard® compliance tracking software, and HIPAA Seal of Compliance®.
The HIPAA Seal of Compliance is issued to organizations that have implemented an effective HIPAA compliance program through the use of The Guard, Compliancy Group’s proprietary compliance tracking solution.
Clients and patients are becoming more aware of the requirements of HIPAA compliance and how the regulation protects their personal information. Forward-thinking providers like EDBS Dental Billing Solutions choose the HIPAA Seal of Compliance to differentiate their services.
“Since the nature of our business being exclusively remote, we take HIPAA compliance very seriously. With the help of Compliancy Group, we are able to take steps to fortify our systems to protect PHI information and familiarize each employee about HIPAA and how we can further safeguard PHI data.” said EDBS Dental Billing Solutions founder Goldie De Leon.
WHS Spring Festival
Join us at the WHS Spring Festival on April 22, 2023, from 10am- 3pm at Wakefield High School(main parking lot). Come out to shop, play, and eat!
Shop local vendors, arts & crafts, new and used items, food vendors/trucks, and
District 27 Toastmasters 2023 Virtual Conference
District 27 Toastmasters invites you to its annual conference where you can hear phenomenal speakers, attend professional development and personal growth seminars about leadership, negotiation, communication, teamwork, and mentorship. Learn how to develop your personal story and how to improve