1st Year Analyst - Where To Live In Washington DC?

Hi all,

I was wondering if anyone could shed some light on how to optimally get an apartment in DC and for how much. I'll keep it short to two main questions:

  1. Any recommendations on apartment buildings, townhouses, etc. and strategies on getting the best deals?
  2. What portion of a 1st-year analyst's gross salary should be put in rent in DC? (Base + bonus gross should conservatively be around 100k-110k)

I was hoping DC would be cheaper than NYC, but it's still making me want to bash my skull in. Currently trying to reach out to alumni/friends to see if there is rooming potential as well.

Any insight would be greatly appreciated.

 

Hi marcus636, the silence is deafening, sorry about that.... Any of the threads below helpful?

  • 1st Year Analyst, where to live in NYC? to which apartment buildings would be best suitable for a first year analyst at a BB? My office is ... downtown and I would like to stay in Manhattan if at all possible. I also know that I will likely need to ... a bit early to start looking for a July 1 move in date, but I would like to get the ball rolling ASAP. ...
  • Great places for 1st year bankers to live in NYC Most 2010 FT IBD 1st year analysts are in the process of figuring out places to live and roommate ... board have heard of great places, deals or are living in one. Looking to hear about specific buildings ... that I could then look into. My guess is that most people in this situation are look
  • Where the hell can you afford to live as a 1st year? it isn't any cheaper. Where the hell are all these 1st years living? housing apartments ... I'm about a month out from starting as a 1st year analyst and have had an incredibly hard ... time finding a place to live. My roommate and I are looking for a 2 bedroom or big 1 bedroom flex ...
  • Investment Banks in Washington D.C. Hi- Do you know of any investment banks / BB branches that are located in Washington DC? I will be ... working in the area, and I would like to network a bit in preparation for FT recruiting. Also, assuming ... that I find some places (e.g. Rothschild), what would be the best way for me to contact them? Thanks! ...
  • 1st Year Analyst- First Car Ever I'm starting as a first-year analyst at a boutique in June. However, it's in a location ... where I'll need a car. Mind you, I never drove before (didn't drive in the motherland, was too ... broke to get one at school/didn't really need it). Any advice on how to pick one? How much should ...
  • Best neighborhoods to live WITH GF in NYC (and timing)- 1st year IB Analyst Midtown Summer 2019 on best neighborhoods to live in as a 1st yr analyst but I think my situation is a bit unique because ... Hello, I'm moving to NYC as a 1st year analyst this summer. I've seen a couple threads ... obviously don't care about finding lots of singles and that, but don't want to live i
  • 1st year FLDP- thinking about quitting the program. Help please. because i wanted other to believe that I am a high achiever in whatever i do. Beginning of my senior year ... quitting: Race: I am currently one year into the program. I am currently located in a very small town in the ... rotating to my next location until June since i started in Feb- so i have 5 more months to
  • More suggestions...

If those topics were completely useless, don't blame me, blame my programmers...

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

Yeah this is really important since it's best to live on the same metro line as your office is. If you'll be around Metro Center, I'd recommend looking around Dupont given your salary, or maybe even Foggy Bottom/West End, but it just depends where you'll be working.

Quant (ˈkwänt) n: An expert, someone who knows more and more about less and less until they know everything about nothing.
 

Yeah I'll be working around the downtown area, so right at the center of DC. Unfortunately, most things I'm looking at around there are pretty expensive (e.g. ~1700+ for a decent studio).

 
marcus636:
Yeah I'll be working around the downtown area, so right at the center of DC. Unfortunately, most things I'm looking at around there are pretty expensive (e.g. ~1700+ for a decent studio).

Yeah, that changes the advice. Now you're not making the choice I put forward. I would live in D.C. at that point. Getting into D.C. is a beach + the experience of D.C. is cool.

Array
 

As others have said, it depends a lot on where you're working. That being said, a good rule of thumb is to try to keep rent less than 30% of your gross income, which at $100k a year is about $2,500 a month. That'll get you a solid to great studio in a lot of DC neighborhoods, or probably a slightly below average to average one bedroom.

As for recommendations, a lot of recent college grads live in Shaw and Navy Yard (Navy Yard is very pricey, but also fun). Dupont is a very solid choice, and if you're willing to go slightly outside of DC Rosslyn and Courthouse have a lot of young professionals. The rents won't be much cheaper, but you'll get more square footage and better amenities for the most part.

 
Most Helpful

Piece of advice from a lifelong Washingtonian--you don't need to live adjacent to a neighborhood in which you'd like to drink and pay a huge rent premium to do so. We have this crazy thing called Uber/Lyft and the D.C. Metro. For many people, they'll spend 90 minutes a day commuting to work so that once or twice a week they can get to their preferred bar by foot, and they'll pay a huge rent premium for the privilege.

Unless you actually work in the District of Columbia, I have no clue why you'd agree to pay more in income taxes and more in rent to incur a miserable commute so that you can walk to a favorite bar on Friday night. It's beyond asinine but is a regular form of stupidity exercised by many Washingtonians.

Array
 

Good point. Here's an alternate view: if op is a single dude, then it's easier to go to his favorite bar, meet an overworked damsel in distress looking to chill out, then suggest let's grab a nightcap at my place two blocks away. Vs let's hop on the metro and ruin the mood w/ a 30 min commute.

 

Shaw/U Street area are great places to live and have tons of young professionals, bars, nightlife, etc.

I would recommend when looking around there, try to find a place in a row home (english basement, terrace level). This will be a nice alternative to an apartment and will afford you to live in a good part of town.

 

I'd recommend checking craigslist for apartment listings. Especially if you're open to living with roommates, you can score some great deals in more traditionally expensive areas. Just make sure to do the appropriate due diligence of course. With a six figure salary + bonus, you'll be able to find a nice spot while still living comfortably within your means.

Also, just a general rule of thumb- try to live a walking distance away (preferably 10 minutes or less) from the metro. It makes commuting to work a lot easier and sometimes lets you skip the $20 uber ride when going to a more distant pregame/bar.

 

If you're working by metro center you have a reasonable commute on essentially any metro line. If you want a big apartment building with pool/amenities then go chinatown, shaw, or logan. The first few years in DC I'd recommend a group house unless you're from the area. It is very insular and meeting people as an Analyst can be tough.

 

what's your game? you trying to save money or have an easier lifestyle?

DC might be expensive still but you'll typically get more bang for your buck (i.e. WD, dishwasher, more sf). plenty of "cheap" places that you can find. you don't need to live in the shiniest new building in downtown. group house will definitely save you money and could be a great way to integrate in a new city.

I'd say Mt. Vernon, Downtown DC, Dupont, Shaw/U St, Penn Qtr are all areas that have good social scene and would offer short commute to downtown. Cleveland Park is cheaper, farther out, and more residential but is on the red line and quick to get to downtown for work. whatever you choose, i'd say a short walk to the metro is key.

another consideration, if you're traveling a ton for work, i recommend being closer to union station or DCA either by way of metro or uber. long weeks of traveling are so much better if you can throw a rock at your place from the airport/train station.

anecdotally, when i first moved to DC i lived in the suburbs to try and save money but probably ended up wasting more money and time on ubers for night life. no, i've not done a cost benefit analysis on paying higher taxes living in DC but the point is, i got tired of spending 30-40 minutes in an uber whose cost added up week after week.

happy to provide more detail if desired.

 

Laboriosam possimus voluptas aut earum quis consectetur natus. Reprehenderit libero quia assumenda aut rerum eius illum. Eaque a sint minima ut dolor qui.

Est quidem natus voluptatibus ab quos. Repellat nobis est et ducimus magnam deserunt eaque. Quam id iusto omnis cupiditate sint omnis sunt.

 

Quam ea odio laboriosam eligendi sit porro corporis. Reiciendis occaecati et quia facilis doloribus. Eos aut id unde ea sunt. Voluptatem saepe voluptates et voluptates quaerat.

Cumque quasi quo illo ipsa omnis. Perspiciatis quidem iure consequuntur rerum dicta nisi officiis. Accusamus itaque fugit consequatur voluptatum eligendi sapiente quas sit. Provident a eum eum. Sint a voluptatem qui et labore et molestias assumenda. Iure illum esse fugit itaque.

Ea velit quis veniam ipsam molestias. Autem occaecati et accusamus ullam. Qui eius a reiciendis qui voluptates adipisci.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
Secyh62's picture
Secyh62
99.0
5
kanon's picture
kanon
98.9
6
DrApeman's picture
DrApeman
98.9
7
dosk17's picture
dosk17
98.9
8
GameTheory's picture
GameTheory
98.9
9
CompBanker's picture
CompBanker
98.9
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”