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Real Estate

The White House value: Then & now

comp:000050962ea0:0000001c8b:5853 0 <div class="the-content clearfix"> <p>After months of campaign trail blazing, Election Day 2012 is finally here, and for President Barack Obama and Mitt Romney, all that&#8217;s left to do is wait and see who Americans want as their next commander in chief. Leading the great United States of America isn&#8217;t all that&#8217;s up for grabs in this election, though — so is calling the <a href="http://www.zillow.com/homedetails/1600-Pennsylvania-Ave-NW-Washington-DC-20006/84074482_zpid/">White House</a> home sweet home.</p> <p>While it&#8217;s true that the first family&#8217;s humble abode is unlike any other property in the world, the data heads here at Zillow set out to determine just how much this historical property was theoretically worth.</p> <p>&#8220;The housing recession has been quite wrenching for a lot of people, and it is interesting to think about the White House value through the prism of the housing recession,” said Zillow Chief Economist <a href="https://twitter.com/StanHumphries">Stan Humphries</a>. “It gives people something to relate to. The president is living in a home that has a value, just like you.&#8221;</p> <p>And, just like most properties in the U.S., the White House has faced its share of <a href="http://www.zillow.com/local-info/">home value</a> ups and downs. According to Zillow&#8217;s custom valuation for the <a href="http://www.zillow.com/homedetails/1600-Pennsylvania-Ave-NW-Washington-DC-20006/84074482_zpid/">132-room mansion</a>, the property has a current estimated value of $284.5 million, up 1.3 percent from $280.8 million in November 2008, but still significantly down from its $299.9 million peak value in June 2006.</p> <p>Looking forward, the White House&#8217;s value could continue on this upward trend. The <a href="http://www.zillow.com/blog/2012-10-22/us-home-values-post-big-gains-but-recovery-is-uneven-among-markets/">Zillow Home Value Forecast</a> projects <a href="http://www.zillow.com/local-info/DC-Washington/Downtown-home-value/r_273489/">Washington, DC metro home values</a> to rise 1.1 percent over the next 12 months (September 2012 &#8211; September 2013).</p> <p><strong>Related:</strong></p> <ul> <li><a href="http://www.zillow.com/blog/2012-10-17/making-the-white-house-a-home/">Making the White House a &#8216;Home&#8217;</a></li> <li><a href="http://www.zillow.com/blog/2012-10-10/the-history-of-the-vice-presidents-residence/">The History of the Vice President&#8217;s Residence</a></li> <li><a href="http://www.zillow.com/blog/2012-09-04/homes-of-mitt-romney-and-barack-obama/">Homes of Mitt Romney and Barack Obama</a></li> </ul> </div>
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