Skip to main content

Ask Adam: Cost Per Square Foot Near a Metro?

By WTOP Staff

Ask Adam header

This regularly-scheduled sponsored Q&A column is written by Adam Gallegos of Arlington-based real estate firm Arbour Realty, voted one of Arlington Magazine’s Best Realtors of 2013 & 2014. Please submit your questions via email.

Q. Have you done any analysis on the average sale price per square foot by Metro area in Arlington? I’m looking to buy in the Clarendon/Courthouse area and that along with HOA fees are two of the key components I am examining.

A. I have created a report for you that follows the Metro stations along the Orange Line from East Falls Church to Rosslyn. You mentioned in a subsequent email that you are looking at newer condos, so I am going to limit my analysis to condos built more recently than 1999. I’m using data from the MLS so it will not includes some of the new construction sales at Gaslight Square and the growing number of sales that take place outside of the MLS.

East Falls Church

The only newer condo currently located near East Falls Church metro is Westlee. The average cost per square foot (CPSF) is $454 with a range of $442-$476.

Condo listings near East Falls Church metro

Ballston

Ballston includes a larger number of condo options, such as Liberty Center, Continental and Berkeley. You will also start to pay a premium for being within the Ballston to Rosslyn corridor. I did not include condo conversions like Eastview & Westview because they were not actually built after 1999 (despite how they are listed in the MLS). The average CPSF is $555 with a range of $450-$624.

Condo listings near Ballston metro

Virginia Square

Virginia Square often gets lumped in with Ballston, but I decided to break them up. I included Hawthorn, Lexington Square, Monroe and Ballston 880. The average CPSF is $544 with a range of $463-$600.

Condo listings near Virginia Square metro

Clarendon

Clarendon is consistently in the most demand when it comes to condo buyers like yourself.  I included Hartford, Lyon Pointe, Clarendon 1021, Phoenix, Station Square and Clarendon 3131. The average CPSF jumped to $589 with a range of $518-$724.

Condo listings near Clarendon metro

Courthouse

Condos in Courthouse include Vista, Odyssey, Park, 1800 Wilson, Dakota, Gaslight Square and Wooster & Mercer Lofts. Courthouse is typically a little less expensive than Clarendon but the average cost per square foot is going to be skewed slightly higher because of the luxury Abdo buildings. The average CPSF is $569 with a range of $443-$744.

Condo listings near Courthouse metro

Rosslyn

The numbers in Rosslyn are off the chart because Rosslyn includes the ultra-luxury condo buildings: Turnberry Towers, Waterview and Memorial Overlook. Even though the average CPSF I’m reporting is higher in Rosslyn, I think it is safe to assume that if you built the exact same condo building in Rosslyn and Clarendon, the one in Clarendon would be able to demand a higher cost per square foot. The average CPSF is $815 with a range of $532-$1102.

Condo listings near Rosslyn metro

The views and opinions expressed in the column are those of the author and do not necessarily reflect the views of ARLnow.com.

Don’t Settle for Student Loans to Pay for Online Education

By WTOP Staff
Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
Read Next Story

Related News

Frustration grows in Venezuela as earthquake death toll reaches 1,430

Israel and Lebanon sign framework agreement with US in ‘first step’ toward peace, Rubio says

Trump-endorsed populist poised to become Colombia’s next president as rival challenges vote