Zillow values the White House at $397.7 million



Zillow has updated its valuation for the White House, saying it’s now worth $397.9 million, according to its latest Zillow home valuation. That means the White House is now the most valuable home among Zillow’s listings, having appreciated by 15 percent since the Obamas took up residence there eight years ago.

Zillow first began estimating the White House’s value back in 2009 using its Zestimate algorithm, which bases a property’s worth on recent sales in the area and other public data. Zestimate is used to value over 100 million homes in the U.S., which is almost every single property in the nation.

President-elect Donald Trump will be the 44th president to move into the 55,000 square-foot home when he takes over the presidency at the end of this month. Unlike some past presidents, luxury living is not new to Trump, who is moving from his three-story penthouse in The Trump Tower to one of the most famous homes in America.

The value of the White House, currently at its peak, is expected to appreciate 3 percent over the next year, in line with home value growth expected throughout Washington, D.C. Home values across the country have appreciated 6.5 percent over the past year and 9 percent since Barack Obama’s inauguration in 2009.

“President-elect Trump is moving into one of the most famous homes in the country — and, according to Zillow, it’s also the most valuable home in the country,” said Zillow Chief Marketing Officer Jeremy Wacksman. “President Obama’s term coincided with a massive recovery of the U.S. housing market, and that’s reflected in the updated value of the White House. Home values across the country are growing at their fastest pace since 2006, with many markets setting new records — one of the reasons why the White House is worth more now than it has ever been.”

The White House has 132 rooms, 32 bathrooms and sits on 18 acres. Notable features include basketball and tennis courts, a sun room and a library, all of which influence the home’s Zestimate. Were a potential buyer to take out a standard 30-year fixed mortgage on the White House today, the monthly payment would be about $1.6 million, according to Zillow. The monthly rental payment would be just over $2 million per month.

About Mike Wheatley

Mike Wheatley is the senior editor at Realty Biz News. Got a real estate related news article you wish to share, contact Mike at mike@realtybiznews.com.

Sign up Now and get our guide on Facebook for Real Estate Professionals for Free

Sign up to the Realty Biz News mailing list to get updates from our site and also get our guide to Facebook marketing for Real Estate professionals for free