The calculator is pre-filled for a $733,400 home (the Washington, D.C. median, ranked 3rd of 51) with 20% down at 7.40%. That comes to $4,576.08 a month: $4,062.33 principal and interest, $385.00 tax, $128.75 insurance. With 5% down and PMI it is $5,628.07.
Homestead exemptions and property tax relief
The homestead deduction is $91,950 of assessed value for tax year 2026, cutting the bill by about $782. Once you have the deduction, the Assessment Cap Credit limits taxable growth to 10% a year. Owners who are 65 or older or disabled, with household income under $163,500, get a 50% tax reduction, and their cap drops to 2%. Apply to the Office of Tax and Revenue.
First-time buyer programs
D.C.'s Home Purchase Assistance Program (HPAP) provides up to $202,000 of gap financing plus up to $4,000 for closing costs, depending on household income and size.
Transfer and recording taxes
On a sale of $400,000 or more, the buyer pays a 1.45% recordation tax and the seller pays a 1.45% transfer tax, about $10,634 each on a $733,400 home. Below $400,000 each rate is 1.1%. Eligible first-time D.C. buyers pay a reduced recordation rate of 0.725%.
Closing costs to plan for
The recordation tax dominates buyer costs. Add title, lender fees and, for condos and co-ops, resale package and move-in fees.
When property tax bills are due
DC real property tax is due in two halves, March 31 and September 15, and bills are mailed in February and August. A late payment carries an initial penalty of 11.5% plus interest of 1.5% a month, so confirm that escrow has the new account after you close.
Before you buy in Washington, D.C.
New owners have their own appeal window: generally 45 days from the purchase or April 1, whichever is later; the regular first-level review deadline is April 1. File the homestead deduction application soon after settlement. It removes $91,950 from the assessment and is required for the 10% assessment cap. Ask your settlement agent whether you qualify for any reduction in DC recordation tax as a first-time buyer.
2026 loan limit in Washington, D.C.
FHFA 2026 one-unit conforming limits: every part of the District is high-cost, with a top limit of $1,249,125. A median-home loan of $586,720 is conforming.
Washington, D.C. numbers used above
| Measure | Washington, D.C. | U.S. |
|---|---|---|
| Median home value (ACS 2024) | $733,400 | $360,600 |
| Effective property tax rate | 0.63% (35th highest) | 0.89% |
| Average HO-3 premium (NAIC 2023) | $1,545 | $1,737 |
| Median household income | $109,707 | $81,604 |
| Median gross rent | $1,931 | $1,487 |
| Income needed at 28% (20% down) | $196,118 | – |
Frequently asked questions
When are DC property taxes due?
Half by March 31 and half by September 15.
Can a new DC owner appeal the assessment?
Yes, generally within 45 days of purchase or by April 1, whichever is later.
What does the DC homestead deduction do?
It removes $91,950 from the assessed value, and it is required for the 10% cap on yearly increases.
What is the median-home payment in Washington, D.C.?
About $4,576.08 a month on a $733,400 home with 20% down at 7.40%, including tax and insurance.
Sources
- DC OTR, due dates
- DC OTR, real property FAQs
- DC CFO, tax rates
- DC OTR, reliefs, credits and deductions
- DC OTR, ROD-11 first-time buyer rate
- FHFA, 2026 conforming loan limits
- Census ACS 2024 1-year (B25077, B25103, B19013, B25064); NAIC homeowners report (2023); Freddie Mac PMMS.
See also: all states · house affordability · Washington, D.C. paycheck