The FINANCIAL — Since President Barack Obama first moved into the White House in January 2009, its value has risen approximately 7 percent to an estimated $294.9 million, according to the Zestimate home value provided by Zillow.
By comparison, home values for the city of Washington, D.C., rose 13.6 percent during the same period.
Zillow calculates the value of the White House as if it were a home that could be bought and sold, using the proprietary Zestimate algorithm, which determines a home's estimated worth based in part on public data and recent sales.
As Zillow said, when the Obama family moved into the historic home at 1600 Pennsylvania Ave., it was worth an estimated $275.6 million. In Washington, D.C., as a whole, the Zillow Home Value Indexi (ZHVI) rose almost 13.6 percent – to $397,000, from $349,600 – between January 2009 and November 2012, the most recent month for which data is available.
Nationally, home values fell roughly 5.3 percent over the same period, to $156,200 in November 2012 from $164,900 in January 2009. But over the past year, national home values rose 5.2 percent between November 2011 and November 2012.
The White House's value peaked at $299.9 million in July 2006. Its most recent low came in August, when it fell to an estimated value of $271.1 million.
Discussion about this post