“There goes the neighborhood!” was often mouthed by racists whenever a black family moved into a white neighborhood. So it is remarkable to see how far blacks have come since then, and it’s also funny to note that the value of the White House has risen 7 percent since President Obama took office.
The White House is currently valued at $294.9 million, up 7 percent since president Obama took office in January 2009, according to website zillow.com. In all fairness, the values of homes in Washington D.C. are up by over 13 percent, so its no surprise that the value of the White House would rise as well.
Zillow uses the cost of recent home sales as well as other date to calculate the value of homes.
In a press release, Zillow describes the current value of the White House:
Were a potential buyer to take out a standard 30-year, fixed-rate mortgage on the White House today (assuming 20 percent down and a 3.276 percent interest rate), the monthly payment (including taxes, insurance, principal and interest) would be $1,130,832, according to Zillow.
If the Obamas decided to rent out the White House to another family, tenants could expect to pay more than $1.75 million per month in rent, according to the home’s Rent Zestimate.
That says it all. Whoever enters the White House after the 2016 election, be it Hillary Clinton, Chris Christie, or some unexpected upstart, will be inheriting a descent piece of property.