What is the White House Worth? Nearly $400 Million, Says Zillow

Posted on Jan 24 2017 - 12:48pm by Zoe Eisenberg
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Want to buy the White House? Well, you can’t. But if you could, it would go for just under $400 million, says new hypothetical Zillow data.

According to the data, the White House has appreciated 15 percent since Barack Obama's inauguration in 2009, and is currently valued at $397.9 million. Were it to actually be listed on Zillow, it would be the most valuable home on the site—and rightfully so.

Zillow first calculated the value of the White House in 2009 using their Zestimate® algorithm, which provides a starting point for a home's worth based on public data and recent sales. According to Zillow, the value of the 55,000 square-foot “residence” is currently at its peak. If it continues in line with the projected value growth rate of homes in Washington, D.C., the estate will appreciate another 3 percent in 2017.

"President-elect Trump is moving into one of the most famous homes in the country and, according to Zillow, it's also the most valuable home in the country," said Zillow Chief Marketing Officer Jeremy Wacksman. "President Obama's term coincided with a massive recovery of the U.S. housing market, and that's reflected in the updated value of the White House. Home values across the country are growing at their fastest pace since 2006, with many markets setting new records—one of the reasons why the White House is worth more now than it has ever been."

So what can you get for just under $400 mill? Built in the 1800s, the estate offers bedrooms, over 130 rooms, 35 bathrooms and 18 acres. The grounds include basketball and tennis courts, and the residence includes a gym, a sun room and a library. The president and his family will reside on the top two floors of the six-story Executive Residence. Also located in the house are a doctor’s office, flower shop and a bowling alley.

What if a hypothetical buyer wished to take out a hypothetical mortgage on the palatial presidential domicile? If they were to lock in a standard 30-year fixed mortgage on the White House today, the monthly payment would be about $1.6 million. If they wanted to rent the spot, their monthly payment would be over $2 million per month.

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  1. Richard January 28, 2017 at 2:10 pm - Reply

    The article is very entertaining, but the conclusion is dubious.

    At $400,000,000 it is $7272.00 per square foot, but I suspect that number includes the 18 acre lot.

    In a real life scenario, the land is likely more valuable than the building itself. Were it ever to hit the market, the house may even be a teardown

    The largest discrepancy is the fact that the official residence, according to a recent CBS’s Sunday Morning show, is around 22,000 square feet. Trump’s apartment is said to be 30,000 square feet and it is unlikely it cost anywhere near $400,000,000.

    It is easy to speculate about what something is worth that will never be for sale, but IMHO, if it were, the Zestimate is not up to the task.

    Richard

  2. RICK WELLS February 2, 2017 at 1:05 pm - Reply

    I am sure that Zillow also took into consideration any covenants and restrictions and also the historical significance and I am sure that they did a thorough highest and best use analysis…

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