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.

Comments (24)

Jun 2, 2019

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...

Jun 4, 2019

need to know what area of DC youll be working in...it's huge

Jun 4, 2019

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.

Jun 5, 2019

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).

Jun 5, 2019
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.

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Jun 4, 2019

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.

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Jun 5, 2019

Thanks for the recs, +SB

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Jun 4, 2019

Everyone always says make a budget as if you get no bonus. Don't make it off of 100k, make it off of your base.

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Jun 5, 2019

I like that mindset, thanks +SB

Jun 25, 2019

Very sound advice

Most Helpful
Jun 5, 2019

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.

Jun 4, 2019

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.

Jun 5, 2019

That's a really expensive lay. Like, $6,000/year in additional rent and 5 hours a week in additional commuting.

Jun 5, 2019

I'll be working in the downtown area so I definitely want to stay close to that area. Agreed on your point though if you don't work in DC.

Jun 5, 2019

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.

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Jun 5, 2019

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.

Jun 6, 2019
groovydude:

I'd recommend checking craigslist for apartment listings.

Sounds a little too groovy for me, dude

Jun 6, 2019

I'd try actual housing networks like WIHN or WISH

When life gives you kefir and flour, make some blins.
Jun 6, 2019

If you are working downtown (I'm assuming that means near Metro Center) then Chinatown, Shaw, Foggy Bottom, Dupont, and Mt. Vernon are good neighborhoods for you. Potentially SW Waterfront, Adams Morgan, and U Street if you dont mind a slightly longer commute. Would suggest living in the District.

Jun 6, 2019

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.

Jun 25, 2019
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Jun 25, 2019