As it turns out, renting is cheaper than buying in the city and its surrounding suburbs. According to the online borrowing tool Lending Tree, renting in the DC Metro Area is on average $630 a month less expensive than owning a property there.

The city's most expensive enclaves include Spring Valley, a popular location for diplomats and ambassadors. Bellevue, a residential area to the south, is one of the more affordable spots.

Meanwhile, in the vibrant Shaw neighborhood, this two-bedroom condo with an open chef's kitchen was recently listed for sale. Measuring the average size for the city, the sought-after property was put on the market for $549,000 with Compass.

How big is the average home in Washington, DC compared to other capitals?