Why Is Price per Square Foot High in Washington, DC?

Washington, DC ranks as one of the most expensive markets, averaging ~$483/sq ft.
Typical homes offer premium pricing due to proximity to federal jobs and national institutions.
Limited land availability contributes to consistently high home values across the district.
Demand remains strong, supported by stable employment and government-related industries.
Affordability pressures persist as buyers compete for a small pool of available housing.