Rent vs buy in Southwest Waterfront & The Wharf
Washington, DC · ZIP 20024 · computed from 197 active listings within about 1.5 miles on September 14, 2026
The one number that matters
Renting a 1-bedroom here costs $2,200 a month at the median. Owning a matched 1-bedroom costs about $1,672 a month all in on the homes the engine actually matches here, typically around $189,333: mortgage, taxes, insurance, maintenance, and any HOA.
The market right now
- Studio: $1,900/mo median rent
- 1-bedroom: $2,200/mo median rent
- 2-bedroom: $2,895/mo median rent
- 4-bedroom: $5,295/mo median rent
3-bedroom and 5-bedroom rentals are not shown: fewer than 5 active listings, too few to publish a median from.
197 homes actively for sale within about 1.5 miles, spanning 24 studio, 80 1-bed, 57 2-bed, 13 3-bed, 18 4-bed, 2 5-bed, 2 6-bed. 112 of them sit inside 20024 itself.
Rent medians over 74 active rental listings in 20024.
What buying takes
- Studio: $199,000 median list price (market context, not the basis)
- 1-bedroom: $339,000 median list price (market context, not the basis)
- 2-bedroom: $650,000 median list price (market context, not the basis)
- 3-bedroom: $1,099,000 median list price (market context, not the basis)
- 4-bedroom: $1,250,000 median list price (market context, not the basis)
5-bedroom list prices are not shown: fewer than 5 active listings, too few to publish a median from.
All-in monthly to own: $1,672 for a 1-bedroom, $2,264 for a 2-bedroom - mortgage, taxes, insurance, maintenance, and any HOA carried.
Cash to close on a matched 1-bedroom: about $43,547 ($37,867 down plus $5,680 closing), on the homes the engine actually matches here, typically around $189,333.
Only one matching 3-bedroom home is for sale here right now, not enough to model a reliable market price, so we are not quoting one. It is in the listings below.
When buying pulls ahead
Buying a matched 1-bedroom here (on the homes the engine actually matches here, typically around $189,333) overtakes renting and investing the difference around year 2. By year ten the gap is about $136,083 in favor of owning.
The roommate math nobody shows you
A matched 2-bedroom here runs about $2,264 a month to own on the homes the engine actually matches here, typically around $251,667. Split two ways, that is about $1,132 per person. Qualifying for the same home solo takes roughly $75,000 a year at the standard 36 percent lender cap: rent splits between people, a mortgage qualification does not.
On the market in Southwest Waterfront & The Wharf
| Address | Beds | Price | Cash to close |
|---|---|---|---|
| 354 N St SW #354 | 3 | $330,000 | $75,900 |
| 650 Wharf St SW #58 | 1 | $199,000 | $45,770 |
| 429 N St SW #S-203 | 1 | $180,000 | $41,400 |
| 1245 4th St SW APT E210 | 1 | $189,000 | $43,470 |
| 1245 4th St E #409 | 1 | $190,000 | $43,700 |
| 1245 4th St SW APT E409 | 1 | $190,000 | $43,700 |
The engine's own top matches for a typical renter here; each cash-to-close is 20 percent down plus closing on that home's price.
Keep exploring
- Shaw & Bloomingdale · own from about $1,970/mo
- H Street Corridor & Trinidad · own from about $1,803/mo
- Capitol Hill & Navy Yard · own from about $1,672/mo
- Logan Circle & Downtown · own from about $1,994/mo
- Georgetown & Burleith · own from about $1,455/mo
- All Washington, DC neighborhoods
- Introducing LeaseLens: how the rent-vs-buy math actually works
Common questions
Is it cheaper to rent or buy in Southwest Waterfront & The Wharf?
The median 1-bedroom rents for about $2,200 a month, while owning a matched 1-bedroom runs about $1,672 a month all in (mortgage, taxes, insurance, maintenance, and any HOA) at a typical price of $189,333.
How long until buying beats renting in Southwest Waterfront & The Wharf?
On current figures, buying pulls ahead of renting and investing the difference around year 2 for a matched 1-bedroom here.
How much cash do I need to buy in Southwest Waterfront & The Wharf?
About $43,547 covers a 20 percent down payment plus closing costs on a matched 1-bedroom. Lower down payment paths exist; this is the standard construction.
Can roommates buy together in Southwest Waterfront & The Wharf?
Splitting a 2-bedroom two ways runs about $1,132 per person each month, while qualifying for the same home solo takes roughly $75,000 of annual income at the standard 36 percent lender cap.
Run it on your actual lease
These figures describe a typical renter. Upload your lease and LeaseLens computes the same comparison on your real rent, income, and savings, then watches the market for you.
Analyze my leaseData updated September 14, 2026.
How these numbers are computed
Every figure comes from the same engine that powers the LeaseLens comparison, run over live inventory in 20024: rent medians from active rental listings, ownership costs from the engine's top-matched-homes construction, and the crossover year from its 30-year net worth projection. The reference buyer is a solo renter with good credit, a $100k income, 20 percent down, and cash covering the close. Your own lease and finances will move every number, which is what the full comparison is for.