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After months of campaign trail blazing, Election Day 2012 is finally here, and for President Barack Obama and Mitt Romney, all that’s left to do is wait and see who Americans want as their next commander in chief. Leading the great United States of America isn’t all that’s up for grabs in this election, though — so is calling the White House home sweet home.
While it’s true that the first family’s humble abode is unlike any other property in the world, the data heads here at Zillow set out to determine just how much this historical property was theoretically worth.
“The housing recession has been quite wrenching for a lot of people, and it is interesting to think about the White House value through the prism of the housing recession,” said Zillow Chief Economist Stan Humphries. “It gives people something to relate to. The president is living in a home that has a value, just like you.”
And, just like most properties in the U.S., the White House has faced its share of home value ups and downs. According to Zillow’s custom valuation for the 132-room mansion, the property has a current estimated value of $284.5 million, up 1.3 percent from $280.8 million in November 2008, but still significantly down from its $299.9 million peak value in June 2006.
Looking forward, the White House’s value could continue on this upward trend. The Zillow Home Value Forecast projects Washington, DC metro home values to rise 1.1 percent over the next 12 months (September 2012 – September 2013).