The building at 1600 Pennsylvania Avenue – the White House, is now worth $294.9 million, and if it were to be rented, tenants would have to pay more than $1.75 million per month in rent, says home value provider Zillow (Z: Quote).
The estimated values calculated using the proprietary Zestimate algorithm are based in part on public data and recent sales.
With a floor area of 55,000 square feet, the White House features 132 total rooms, 35 bathrooms, 16 bedrooms, three kitchens and 18 acres of premium, downtown Washington, D.C., land.
According to Zillow, when the Obama family first moved into the historic home in January 2009, it was worth an estimated $275.6 million.
The current estimated worth of the most famous residence in the country represents an increase of 7% than what it was four years ago. The White House’s appreciation over the past four years lags behind the home values for the city of Washington, D.C., which has increased 13.6% during the same time frame. Nevertheless, it far exceeds the national average over the same period, says Zillow Chief Economist Stan Humphries.
The estimated value of White House peaked in July 2006 at $299.9 million while its most recent low came in August of 2012 at $271.1 million.
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by RTT Staff Writer
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