Washington, D.C., is known for being a hub of activity. As the center of the national government, the District of Columbia attracts millions of visitors annually.
Residents of Washington, D.C., and its surrounding cities often work for major government agencies or corporations, including Fannie Mae, Lockheed Martin, and the Department of Defense.
Washington D.C. is full of activities for singles and families alike. The Smithsonian Museums contain many unique and historical exhibits. At the Smithsonian National Air and Space Museum, you can view Charles Lindberg’s Spirit of S. Louis.
Those interested in evolution and dinosaurs will appreciate the Smithsonian National Museum of Natural History, which boasts fossils of humans and animals over 6 million years.
Museums and monuments aren’t the only things you’ll find in the District of Columbia. Visitors who arrive in March or April can experience the yearly cherry blossom blooming along the Tidal Basin. The city also contains numerous historic neighborhoods that are pleasant to explore, including Georgetown and Dupont Circle.
Despite the many attractions the District of Columbia offers, it’s not known for being cheap. Housing, groceries, and transportation are notoriously expensive, and many residents struggle to balance their debt payments with their basic living needs.
How Much Do Residents Need District of Columbia Debt Help?
The average cost of living in the District of Columbia is 154.3, well above the national average of 104.61. Residents spend the most on housing and transportation. The current median average to purchase a home in Washington, D.C., is $672,400.
Those who can’t afford to buy a house must rent an apartment. However, apartment costs are quite high as well. A single studio may rent for $1,887, while a one bedroom is a staggering $2,527.
Despite the high costs, individuals working in the District of Columbia can expect a high salary. The average annual wage in Washington, D.C., is $98,370, compared to the national median of $58,260.
It’s no surprise that residents of Washington, D.C., carry a high level of credit card debt. The average Washington resident has $12,412 in debt, compared to the national median of $8,425.
To see how long it will take you to pay off your credit card debt in Washington, D.C., and how much you will pay in interest, use our convenient calculator provided below:
Americor offers several different debt assistance programs designed to help individuals and families pay off their debt and obtain a fresh start. To learn more about our programs, check out the links provided below: