D.C. Employees relocating to RVA in significant numbers

An interesting trend that is emerging and I'm seeing in my business is a surge of people working day jobs in D.C. and then taking the train home to RVA and the surrounding areas! When you look at the data, I can't say this is surprising! I can think of 3 key reasons why living in our wonderful city is prompting this transition:

1. Homes cost less. "The December 2022 median home sales price for the DC area was $513,315; meanwhile, it was $313,245 in Richmond," according to the Washingtonian. That is a significant difference in purchasing power!

2. Easy access to railway transportation. This seriously cuts down on traffic. Even if you're traveling a short distance in NoVa, you're probably going to spend the time it takes for that train commute in gridlock anyway! Consequently, "train ridership between Richmond and DC increased 26 percent from July 2019 to July 2022," Axios reports.

3. Ability to Work from Home or Hybrid. The workplace climate has changed since COVID, and much of that is here to stay. Many workers now have the option of only coming into the office 1-3 days a week and this allows flexibility when choosing where to call home.

Bottom Line: RVA "provides a lower housing cost without forcing NoVA transplants to give up the things they like about the DC area: walkability, museums, entertainment, good restaurants and bars," says the Washingtonian. One of the many reasons why we love it here!

To read more of this Washingtonian article, click here.