DC’s 5 most Affordable Neighborhoods

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Living in the Capital of the United States comes with the reward of being at the center of activity that shapes our nation: politics, culture, and economics. There is no lack of variety of entertainment or internationally acclaimed dining and shopping here. The unfortunate effect of Washington’s high level of livability, alongside Amazon’s HQ2 announcement, is sky-high rent prices.

Where Are Most Affordable Neighborhoods in DC?

It might be surprising to hear, but there are still pockets of affordability in the city! Surprisingly, renters have a large selection of affordable neighborhoods to choose from when deciding where to live. Let’s take a deeper dive into the neighborhoods we found worthy of being deemed as “affordable” in DC standards. If you see a neighborhood you like, check out the available rentals we offer in the area.

Here is our list of the 5 most affordable neighborhoods in Washington DC:

Corner with street on Constitution Avenue

Mt. Pleasant

Known as the last affordable frontier of the Northwest quadrant, Mt. Pleasant is quaint and safe, and a perfect fit for anyone looking to rent. Its low key, yet vibrant life is what brings visitors to the neighborhood. It is speckled with well know eateries and is close to Rock Creek Park and Adams Morgan. This provides residents with the best of both day and nightlife. Rent prices in Mt. Pleasant will tend to get you more space for your dollar than most neighborhoods in DC. So, if you’re looking to rent on a budget in DC, Mt. Pleasant is a great choice.

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Capitol Hill

We have a confession to make: Capitol Hill is more economically diverse than it is consistently affordable. This essentially means, there are 1 bedroom apartments going for $1,200 a month, right alongside luxury condos going for $10,000 a month. The most affordable areas in Capitol Hill tend to be in Hill East or Navy Yard. 

If you plan on working for the government, this is the neighborhood for you. Not only is it close to governmental institutions, but it’s safe, family-friendly and incredibly neighborly.  When moving to Washington DC from another state, it might be the exact vibe you’re looking for. Check out our Capitol Hill rentals to get a better picture of what to expect! 

DC's 5 most Affordable Neighborhoods 3

H Street Corridor

With tons of nightlife options and vibrant dining selections, H Street Corridor is an incredibly attractive option for renters. Rates start comfortably at around $1,200 for a one-bedroom apartment and go up from there. Investors, listen up: H Street Corridor is your best bet on getting a high return on investment in the next decade. Homes located in H Street Corridor are relatively affordable to buy at the moment. This, paired with huge development plans already in the works, equals good news for buyers. Currently, the area is already profiting from growth in both commercial and residential-related purchases and rentals.

Building in the H Street neighborhood

Brookland

Until recently, the culture in Brookland was derived from its only institution, The Catholic University of America. Formerly not considered a “destination hot spot”, the neighborhood told a completely different story than it does today. Dotted with independent brewers, cafes and dining options, Brookland’s streets now bustle with more commercial activity than ever before. This, paired with a burgeoning art scene make Brookland incredibly attractive for those looking to live outside of DC’s buttoned-up vibe.

Suffice it to say, we have a soft spot for this up and coming area. Compared to the rest of DC, it’s also incredibly affordable. Check out our supply of Brookland rentals where you can find such gems as this 3 bedroom house for $2,495 a month.

House in one of the affordable neighborhoods in DC

Takoma

Not to be confused with its very close and much more expensive neighbor, Takoma Park, Takoma is super affordable for buyers and renters. Its overall vibe is young, liberal and vegan-friendly. Don’t expect too much from the nightlife scene, as there really isn’t one. One of the main appeals of the neighborhood is its close proximity to Rock Creek. Houses can be purchased starting at $300,000 and going up to about $500,000. For rentals: a two-bedroom apartment should put you at around $2,400 a month. You can also expect fairly affordable prices sprinkled in the surrounding areas of Manor Park, 16th Street Heights, and Fort Trotten.

The Takoma neighborhood is one of the affordable neighborhoods in DC

When researching affordable neighborhoods in DC, we were pleasantly surprised to find a larger supply than originally thought. Affordable neighborhoods not covered in the article, but certainly deserve a mention for their affordability and access to amenities are Brentwood, Eckington, and Bloomingdale. With a bit of luck and research, one can definitely a fairly affordable place in Washington DC.

Interesting In Living in One of These Affordable DC Neighborhoods?

Visit our Tenant Resource Center to submit a work order. Visit our Client Resource Center to log into your account. Check out our awesome DMV located rentals. Get in touch for our DC property management services.

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Your portal includes a selection of extremely useful reports. Reports are available in the “Reports” section, and are distinct from the financial statements. Unlike financial statements which are static records, Reports are dynamic real-time records that will update with current data every time you view them. 

Scroll down to learn more about Reports:

Navigate to the "Reports" module in your portal:

  • Keep in mind, these reports are dynamic records. They will refresh to display current information every time you view them. 

Enhanced Rent Roll Report:

  • The Enhanced Rent Roll Report will show the rent amount, last payment date, move-in date, lease expiration date, and security deposit amount for each of your tenants. 
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Unit Comparison Report:

  • If you own multiple units (or buildings) with Nomadic, you’ll get access to the Unit Comparison Report. 
  • This report enables you to quickly compare financial performance between your units at a glance without toggling between individual reports. 

Income Statement Month-Over-Month:

  • The Income Statement Detail – Monthly Report serves as a month-over-month record of portfolio performance. You’ll see itemized income and expense categories and can track monthly. This report will update with fresh data every time you view it. 

Financial Statements

Financial statements will be published to your portal on a monthly basis. The statements are found in your Documents library, and provide a historical record of all financial performance. The statements serve as a snapshot of financial performance over a given period, and are static documents (unlike Reports, the statements do not update/change in real-time). 

Scroll down for more info about the Financial Statements in your Documents library:

The Documents area contains monthly financial statements:

  • The statements in the Documents are are static documents. They are posted to the portal once a month to serve as a historical record of financial performance. 

Download a statement to see month and YTD financials:

You'll also find a month-over-month operating statement:

Portal Communication Tool

You can use your owner portal to communicate with our team. Any messages you send through the portal will go straight to your Account Manager. When we reply, you’ll get an email notification and you’ll also see the message in your portal next time you log in. 

Here’s an overview of using the communication platform:

Click "Communications" and navigate to "Conversations":

  • The communications module will contain a record of all messages that you create through the portal. 

Click the "New Message" button and send your message:

Responses will show up in the conversation ticket:

  • You’ll get an email notification whenever you get a response, and you’ll also see the message in your portal next time you log in. 

You can reply in-line using the comment box:

Each conversation will be logged in its entirety:

Understanding the Ledger

Your portal includes a ledger with all transactions. The ledger is populated with data in real-time as transactions flow through our accounting software. Much of this information is also available in the Reports area, as well as the Statements in your Documents library, but the ledger is the most comprehensive resource for diving into the details. 

Please scroll through the sections below to get a better understanding of how to interpret the ledger. 

By default, transactions are sorted chronologically:

  • The date reflected in the lefthand column is the actual transaction date, not the “bill date”. This is the date the transaction was actually processed. 

If you have multiple properties with Nomadic, you'll see the address for each transaction in the "Location" column:

  • You can filter the ledger to look at just one property, all properties, or specific sets of properties. 
  • If you only have one property with us, you’ll just see the ledger for that property. 

The Description column displays the transaction type:

  • BILL: this is an expense transaction, such as for repair costs or management fees.
  • CHARGE: this is a transaction  billed to the tenant, most typically a rent payment. 
  • NACHA EXPORT: this is a credit we processed to your distribution account. This type of transaction is how you get paid! 

The Amount column shows the dollar value of each transaction:

  • Positive Amounts: if an amount is positive, it reflects a transaction that is payable to you. Typically, this will be a rent payment that we collected from your tenants. On occasion, a positive number could also signify a journal entry or credit adjustment. 
  • Negative Amounts:  if an amount is negative, this is a transaction that is either payable to Nomadic or is an amount that has already been paid to you. Typically this will be for repair costs or management/leasing fees. Owner draws (net distributions into your checking/savings account) also reflect as negative amounts, since they have already been paid to you. 

The Account Balance column shows a sum of positive/negative transactions at a given point in time:

  • Account Balance should always equal zero after a net distribution has been processed. When the balance is zero, this means that all expenses have been paid and you’ve received the remainder as net operating income, leaving a balance of zero (meaning: no one is due any money, as all funds have been distributed appropriately). 

Navigating the Propertyware Owner Portal

Your portal includes some extremely useful features that help you understand your property’s financial performance at a new level, with real-time transparency into every transaction.

Scroll through the snapshots below for an overview of portal navigation! If you need more help or have specific questions about using the portal, you can reach out to your Account Manager any time for a screen share. 

You can filter all info by date range or property:

View a snapshot of income and expenses on your dashboard:

See every transaction in real-time on your ledger:

Statements and forms will be posted to your documents library:

View a suite of real-time financial reports:

See a running list of all bills, and drill down for more detail:

Under Bill Details, you'll find dates/descriptions/amounts and more:

You can also communicate with your Account Manager through the portal:

How do net distributions work?

Net distributions keep your accounting clean and simple. Each month we’ll collect rent from the tenants, deduct any repair expenses for the previous month and any management/leasing fees for the current month, and credit the remaining net operating income to your account. 

You’ll receive a statement via email each time a net distribution is processed, and can view all transaction details in your Propertyware owner portal.