Thinking about Rolling Your 401(k) into an IRA? 7 Deciding Factors to Consider

The Department of Labor has outlined new rules for advisers to follow when rolling over retirement plans. Whether it is a 401(k) to an IRA or an IRA from one custodian to another, there are several considerations that need to be evaluated before making a change. If you are initiating a rollover on your own, it may be beneficial for you to evaluate these items as well.

You should be able to get all the information you need on your plan from your statements, Annual Participant Fee Disclosure and Summary Plan Description. If you do not have access to these documents, you can usually request them from your human resource department.

All-In Fees and Expenses

Before deciding whether to do a rollover, you will want to compare the fees within your 401(k) plan vs. the fees for the IRA. Fees in the 401(k) could include any mutual fund loads, plan expenses and any underlying fees. Sometimes the fees may be higher in your 401(k), but there may be additional benefits to keeping your funds in the 401(k) wrapper.

It would be up to you to decide whether any benefits are worth the fees. For example, if you are opening an IRA and moving over to an investment adviser there will be additional management fees paid to your adviser, but you may also receive financial advice, retirement planning or wealth management services.

Available Services

Some retirement plans, such as 401(k)s, provide added creditor protection, the ability to take out a loan or take hardship withdrawals, which are not available with IRAs. In certain circumstances you may be able to keep some asset protection if 401(k) funds are rolled into a separate IRA and not commingled with other IRA funds. Some 401(k) providers provide investment education to participants that may be valuable if you are a younger investor.  You will also want to look at your vesting schedule and company match to determine whether they may be affected. In addition, some retirement plans offer Roth 401(k) contributions, which may not be available to you otherwise.

Available Investments and/or Products

Several 401(k)s offer participants limited investment options. On one hand, that could be viewed as a positive, because when there are too many choices it can confuse participants and make it harder to manage the plan. However, some plans’ limited options may be  more expensive, such as actively managed funds, and they might not offer any low-cost index options.

If you roll over funds into an IRA you then have access to a much wider universe of investments. That said, this should not be your only decision criteria. Some company retirement plans offer a “BrokerageLink” option, which allows you to move funds from the “core” 401(k) account to a brokerage account –  another way to access more investment options. Some plans have restrictions on what can be invested in a BrokerageLink so you would want to consult the plan document before deciding.

Guaranteed Income/or Interest Rates

Are you invested in anything earning a guaranteed interest rate that you will lose by moving from a 401(k) to an IRA or other plan? For example, TIAA CREF’s 401(k) offering has TIAA Traditional, which could be earning 3%-4% –  a great return in this environment. You may not want to roll out funds into an IRA and lose access to this option.

Tax Considerations

If you are required distribution age but still working past retirement (providing you are not an over 5% owner in the company), you can defer taking money out of your 401(k). Unfortunately, if you have an IRA on the side, that IRA is subject to required distributions at age 72, even if you continue to work. If you leave the funds in the 401(k) you can still contribute and don’t have to take money out.

One caveat related to the Roth part of a 401(k): If you are age 72 and a greater than 5% owner or retired you have to take a distribution from the Roth side. A way to get around this is to roll the Roth 401(k) balance into a Roth IRA prior to age 72.

Also, if you happen to be in a zero-income year and all you have is retirement funds and need cash, it may make sense to take a taxable distribution rather than do a rollover.

Distribution Considerations

If your 401(k) retirement account is invested in an insurance product or annuity you will want to evaluate whether there are any surrender charges. Usually annuities cannot be moved to IRAs in kind. Some annuity products may have certain benefits that will be lost if liquidated, so you will want to make sure you understand how your product works before making a decision.

Some plans may offer annuity options rather than a lump sum, which would be lost if you roll your 401(k) over to an IRA. You will want to look at the financial implications of the lump sum vs. the annuity options to see which option is better for your situation, especially if you have a spouse who can receive survivor benefits.

You will also want to check if there are any in-service distributions options or guaranteed payment options.

Beneficiary Considerations

If you are married, your 401(k) must list your spouse as beneficiary unless your spouse signs a waiver. You can list anyone on an IRA as a beneficiary, so you may want to review your estate planning and beneficiaries if you make any changes.

Senior Financial Adviser, Evensky & Katz/Foldes Financial Wealth Management

Roxanne Alexander is a senior financial adviser with Evensky & Katz/Foldes Financial handling client analysis on investments, insurance, annuities, college planning and developing investment policies. Prior to this, she was a senior vice president at Evensky & Katz working with both individual and institutional clients. She has a bachelor’s in accounting and business management from the University of the West Indies, she received an MBA at the University of Miami in finance and investments.

Source: kiplinger.com

Marilyn Monroe’s Former Penthouse in West Hollywood Lists for $2.49 Million

Here’s a slice of old Hollywood charm at its finest: a West Hollywood penthouse that was once home to Marilyn Monroe has just resurfaced on the market.

The actress, who rose to fame playing comedic “blonde bombshell” characters — which propelled her to become one of the most popular sex symbols of the 1950s and early 1960s — moved into the two-story penthouse in the mid-50s, at the height of her success.

Marilyn called many places home over the years. In fact, sources say that Monroe lived in over 43 separate residences over the years.

From high-end hotels to small apartments and sprawling Spanish-style mansions, to a brief stint living in Frank Sinatra’s guest house, or taking an extended (and somewhat controversial) stay at Bing Crosby’s Rancho Mirage estate, Marilyn Monroe moved around quite a few times before settling on a place of her own.

In 1954, the Monkey Business actress moved into a two-level penthouse at the Granville Towers, which sources say was her final apartment before she bought her Brentwood estate — which was the only property Marilyn ever owned.

After splitting from her second husband, New York Yankees star Joe DiMaggio, Monroe moved into her seventh (and last) apartment in West Hollywood. For about a year, the model-actress set up residence in the luxurious condo that has just been listed for $2.49 million. 

Image credit: The Luxury Level courtesy of The Agency
Image credit: The Luxury Level courtesy of The Agency
Image credit: The Luxury Level courtesy of The Agency

And Monroe may have not been the only famous “blonde bombshell” to live in the two-story apartment. A Los Angeles Times story from three years ago also identified Portia de Rossi as a former resident.

A stylish residence set in a star-studded building

Oozing old Hollywood charm, the posh penthouse is located in one of the most spectacular buildings in West Hollywood.

Image credit: The Luxury Level courtesy of The Agency

Set on the top floor of Granville Towers, a 1930s French Normandy-style Hollywood classic, Monroe’s former abode boasts gorgeous architectural elements such as vaulted ceilings and floor-to-ceiling skylight windows.

Located at the corner of Sunset Boulevard and Crescent Heights, the 2,032-square-foot apartment offers sweeping views of the city and mountains.

Featuring two bedrooms and two bathrooms, a stunning circular staircase connects the two levels of luxurious living space. 

circular staircase in Marilyn Monroe's former West Hollywood condo
Image credit: The Luxury Level courtesy of The Agency
Image credit: The Luxury Level courtesy of The Agency
Image credit: The Luxury Level courtesy of The Agency
Image credit: The Luxury Level courtesy of The Agency
Image credit: The Luxury Level courtesy of The Agency
Image credit: The Luxury Level courtesy of The Agency

The elegant interiors include glistening hardwood floors, spa-like bathrooms and built-in window seats.

The kitchen boasts Venetian plaster, steel cabinetry and Viking appliances, and the formal dining room includes a jaw-dropping chandelier.

While the location is prime, the amenities are just as impressive. With a 24-hour doorman always on duty, the old Hollywood building includes a beautiful courtyard and garden, a clubhouse, outdoor pool and spa. 

Image credit: The Luxury Level courtesy of The Agency

Marilyn was by no means to only high-profile celebrity to call the West Hollywood building home.

A celebrity favorite, Granville Towers has attracted many A-listers in its almost century-long existence. In recent years, celebrities like Nicole Scherzinger, Ashley Greene, Mickey Rourke, Brendan Fraser, or David Bowie have all lived in the posh building.

Listed by Amanda Lynn, Gina Michelle and George Ouzounian of The Agency, Marilyn Monroe’s former home is almost a collectible for die-hard fans of old Hollywood. 

More celebrity homes you might like

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The Iconic Beverly House: where Jackie O & JFK Honeymooned, ‘The Bodyguard’ was Filmed, and where Beyonce Shot ‘Black is King’

Source: fancypantshomes.com

The Cheapest Neighborhoods in Las Vegas for Renters in 2022

Come for the fun, and stay because you just can’t leave!

If you want to have some adult fun, Las Vegas is the place to go! But many people are looking for something a bit more permanent and are choosing to turn this city into the place they call home. In fact, it’s one of the fastest-growing cities with an annual average growth rate of 1.21 percent. In the past 10 years, the population has grown nearly 16 percent.

It’s no wonder why so many people want to move here. A New York Times article recently reported that Nevada is one of the top destinations for Californians trying to escape the high cost of living on the West Coast.

While the cost of living in Las Vegas isn’t one of the lowest in the country, it’s still significantly lower than on the West and East coasts. And you’ll find that even the cheapest neighborhoods in Las Vegas have some beautiful apartments that just might fit all your needs!

What is the average rent in Las Vegas?

The average cost of a two-bedroom apartment for rent in Las Vegas is $1,847 per month. Rent prices rose by nearly nine percent over the past 12 months.

While no one likes a price hike, some renters might find comfort in the fact that this rent increase is one of the lower increases. Many neighborhoods across the country had 15, 25 or 30 percent increases. Salt Lake City, UT, saw a rise of over 40 percent, while New York City prices rose nearly 50 percent.

Thankfully, this is just an average, which means there are plenty of cheaper neighborhoods in Las Vegas where you can find apartments that won’t break the bank.

The 10 most affordable neighborhoods in Las Vegas

If you’re on a tight budget, apartment hunting can seem daunting. Thankfully, we have you covered! Here are some of the cheapest neighborhoods in Las Vegas and why you should consider checking them out.

10. Southeast Las Vegas

Southeast Las Vegas

Southeast Las Vegas

  • Average 2-BR rent: $2,162
  • Rent change since 2021: +112.78%

Despite having the second-highest increase of the 15 neighborhoods we evaluated, Southeast Las Vegas is still one of the most affordable neighborhoods in Las Vegas.

There are some fun attractions in the area, like The Neon Museum, a non-profit organization started in the mid-90s to preserve something Las Vegas uses extensively, the neon light.

If you’re a nature-lover, you’ll be happy to know that Springs Preserve is right within the boundaries of your neighborhood. This 180-acre institution features botanical gardens and an interpretive trail system that takes you through scenic wetlands. The Preserve also hosts outdoor events (like amazing concerts) and is also home to several museums and galleries.

9. The Canyons

The Canyons

The Canyons

  • Average 2-BR rent: $2,108
  • Rent change since 2021: +41.44%

The Canyons is a residential neighborhood home to young professionals and retirees. Not many families live in the area, which means the neighborhood is relatively calm and quiet. The average commute takes approximately 25 minutes. Nearly everyone owns a vehicle because public transit in the area isn’t that great. Thankfully, it’s one of the cheapest neighborhoods in Las Vegas, so you’re better able to afford to own a vehicle.

Nearby is the Chamberlain University College of Nursing, an accredited, three-year nursing school with a 97 percent National Council Licensure Examination (NCLEX®) first-time pass rate. Thankfully, since this is one of the most affordable neighborhoods in Las Vegas, students can focus more on their studies and less on rental rates.

8. Peccole Ranch

Peccole Ranch

Peccole Ranch

Source: Rent.com/The Avondale
  • Average 2-BR rent: $1,929
  • Rent change since 2021: +39.30%

Parents looking for highly-rated public schools in the area should visit the Peccole Ranch neighborhood. The area has a good mix of families, retirees and young professionals. A slight majority of residents rent properties, which means there’s a variety of homes in the area, including single-family homes with yards and garages, as well as townhouses, condos and apartment complexes.

In addition to having some of the best schools in the city, Peccole Ranch is one of the cheapest places to live in Las Vegas — a win-win for parents!

Residents enjoy daily walks along the Paseos walking paths, which are great for exercise or just to enjoy the beauty of the area.

7. Lone Mountain

Lone Mountain

Lone Mountain

  • Average 2-BR rent: $1,828
  • Rent change since 2021: +39.17%

Lone Mountain is one of the top-rated neighborhoods in Las Vegas, in part due to its proximity to Downtown Las Vegas and the North Las Vegas Airport.

You’ll find two parks in the area that just might become your home away from home. In addition to the usual park amenities (picnic pavilions and playgrounds), Lone Mountain Regional Park also has walking trails and an equestrian center. The other park in the area is Majestic Park. This park has plenty of open space for frisbee, soccer and playing with your kids and pets. The park also has picnic areas, softball fields and playgrounds.

Though the area has a higher cost of living than the national average, Lone Mountain is still one of the cheapest neighborhoods in Las Vegas.

6. Centennial Hills

Centennial Hills

Centennial Hills

  • Average 2-BR rent: $1,711
  • Rent change since 2021: +22.48%

Centennial Hills has diverse home options, so there’s something for everyone. If you like townhomes, this neighborhood has them. If you prefer apartments or condos, you’ll find them here, too. Of course, there are also single-family homes, new construction, vacant lots for custom homes and resale properties, as well.

Because the community is growing, businesses are starting to move into the area, increasing growth. In addition to some locally owned businesses, you’ll also find well-known, national stores like Trader Joe’s. Because of this, there are more jobs in the neighborhood, and it’s easier for locals to run errands and get their daily essentials.

One of the perks of this neighborhood is that it’s not close to The Strip. The benefit of living about 30 miles from Downtown is that the Centennial Hills is more tranquil than communities closer to Las Vegas. It also means that Centennial Hills is one of the most affordable neighborhoods in Las Vegas.

5. Southwest Las Vegas

Southwest Las Vegas

Southwest Las Vegas

  • Average 2-BR rent: $1,688
  • Rent change since 2021: +33.72%

For those who want to live in a large community, we recommend checking out Southwest Las Vegas. It’s one of the largest areas in the entire Las Vegas Valley. Though it’s close to The Strip, it’s still far enough away to stay safe and to keep its rustic charm and rural character.

Despite its proximity to The Strip and Downtown Las Vegas, home and rental prices in the area are quite low, making this one of the cheapest neighborhoods in Las Vegas. If you’re a fan of Mediterranean-style homes, you’ll find lots of eye candy in the area, with stucco and red tile roofs in abundance.

Close to the I-15, it’s an easy commute from Southwest Las Vegas to other parts of the city. While there are some bus routes — as well as Lyft and Uber drivers — in the area, most residents prefer to own a vehicle.

4. The Section Seven

The Section Seven

The Section Seven

Source: Rent.com/Breakers
  • Average 2-BR rent: $1,547
  • Rent change since 2021: +23.53%

The Section Seven neighborhood is ideal for people who want close proximity to City Center but like suburban living. The residential community has apartment complexes, in addition to single-family residences. Apartments in The Section Seven are affordable yet have all the modern conveniences and amenities you could want.

The neighborhood is in close proximity to plenty of entertainment, shopping, dining and employment opportunities. The area is also close to freeways, making the commute faster and easier. You’ll find beautiful walking trails nearby, too.

Residents appreciate the strong sense of community in the area with plenty of community activities, like movies in the park.

3. Canyon Gate

Canyon Gate

Canyon Gate

Source: Rent.com/Shelter Cove
  • Average 2-BR rent: $1,425
  • Rent change since 2021: +24.32%

Young professionals make up the majority of residents in Canyon Gate, and there’s a 50/50 split between renters and homeowners.

The neighborhood is nearly 12 miles southwest of Downtown Las Vegas, and most residents have a 20-30 minute commute to work or to go shopping.

One of the reasons Canyon Gate is one of the cheapest neighborhoods in Las Vegas is that it has a dense, suburban vibe. It consists primarily of residential communities, small shopping centers and locally owned businesses. It doesn’t have quite as many amenities as more urban neighborhoods. And yet, that’s something that residents appreciate because it makes the community feel safer and more tranquil.

2. Rancho Oakey

Rancho Oakey

Rancho Oakey

Source: Rent.com/The Neon Apartments
  • Average 2-BR rent: $1,365
  • Rent change since 2021: +6.25%

Located less than four miles from the Las Vegas Strip is the community of Rancho Oakey, which is in the heart of the arts district. Though there are plenty of restaurants, museums and fun nightlife activities, Rancho Oakey doesn’t have the same busy vibe as the Downtown area. And that’s what makes it so popular.

If you’re a lover of the great outdoors, you’ll be happy to know that this neighborhood is close to Springs Preserve. So, you, too, will get to enjoy the trails, botanical gardens, outdoor exhibits and so much more the Preserve has to offer.

1. Twin Lakes

Twin Lakes, the cheapest neighborhood in Las Vegas, NV

Twin Lakes, the cheapest neighborhood in Las Vegas, NV

Source: Rent.com/Solstice
  • Average 2-BR rent: $947
  • Rent change since 2021: 0%

Of all the cheapest neighborhoods in Las Vegas, Twin Lakes is the most affordable. The cost of living in Twin Lakes is less than the Las Vegas average and the U.S. average.

Residents in the area say the neighborhood makes it easy to run errands on foot — like going to convenience stores or the post office. It’s also close to the Interstate, which makes it easy to get to Downtown Las Vegas and restaurants and attractions in the area.

Locals say they like that Twin Lakes is a pretty neighborhood with very friendly neighbors.

The most expensive neighborhood in Las Vegas

We’ve looked at the cheapest neighborhoods in Las Vegas, but what about the most expensive? Is it really out of your budget?

The most expensive neighborhood is East Village. In this community, the average monthly rental rate is $2,975. Rental fees rose in this area by 1.99 percent in the past 12 months, which is one of the lowest rates of all the Las Vegas communities we evaluated.

East Village serves as one of the entrances to Downtown Las Vegas. The community has undergone rejuvenation and renovation projects in recent years, including updating parks and remodeling/reusing old motels for new uses.

Residents like the neighborhood’s proximity to several public transit options. They also like that it’s a quick trip to get to their favorite restaurants, bars and nightlife activities. And even though it’s close to the Downtown area, residents say it’s a quiet area with friendly neighbors.

Find an affordable neighborhood for your next apartment

Finding the ideal apartment is only half the battle when you’re moving to a new area. You also need to know that your apartment is in the best neighborhood for your needs. Things to consider include whether it’s the most affordable neighborhood in Las Vegas and if it’s close to the amenities you need (doctor’s offices, shopping, restaurants, work, etc.).

You can find the best neighborhoods and apartments for rent in Las Vegas with our listings feature. Using our search filters, we can help narrow your search to make finding a rental faster and easier.

Rent prices are based on a rolling weighted average from Rent.com’s multifamily rental property inventory as of January 2022. Our team uses a weighted average formula that more accurately represents price availability for each unit type and reduces the influence of seasonality on rent prices in specific markets. The rent information included in this article is used for illustrative purposes only. The data contained herein do not constitute financial advice or a pricing guarantee for any apartment.

Source: rent.com

5 of the Biggest Celebrities Living in Calabasas, One of LA’s Most Affluent Neighborhoods

Located in the southwest corner of the San Fernando Valley, Calabasas is one of the most affluent neighborhoods in Los Angeles, Calif.

Including a portion of the Santa Monica mountains, Calabasas is located just over 30 miles from the downtown core.

The swanky suburb is bordered by Woodland Hills to the northeast, Topanga to the east, Malibu to the south, Agoura Hills to the west and Hiddens Hills to the north.

And the pretty people love it there! In recent years, the city of Calabasas has upgraded its amenities to cater to the luxurious lifestyles of the rich and the famous.

The exclusive Los Angeles neighborhood offers a variety of attractions such as the popular retail and entertainment complex Commons at Calabasas, the Malibu Creek State Park and the Pet Memorial Park, to name a few.

Entrance to The Commons, an upscale shopping center in Calabasas, California.
Entrance to The Commons, an upscale shopping center in Calabasas, California. Photo credit: Lux Blue / Shutterstock

Not to mention the swanky gated communities with spectacular mountain views and large lots for multi-million dollar mansions.

And that’s why a growing number of famous folks have set up residence in this upscale Los Angeles neighborhood. On that note, here’s a breakdown of some of the biggest celebrities who currently live in Calabasas.

1. Kourtney Kardashian

In 2014, reality star Kourtney Kardashian purchased a Calabasas compound with her former partner Scott Disick.

Spanning 12,000 square feet, the stunning Tuscan-style estate cost $8.5 million and had previously been home to NFL star Keyshawn Johnson.

Kourtney Kardashian house in Calabasas
Kourtney Kardashian’s house in Calabasas. Image credit: property – Architectural Digest; Kourtney Kardashian – Toglenn, CC BY-SA 3.0, via Wikimedia Commons

Featuring 6 bedrooms, 9 baths, a state-of-the-art kitchen, a massage room and gym, the Calabasas compound was designed by lauded architect Richard Landry.

The celebrity house was built in 2011 and sits on a nearly 2-acre lot that offers plenty of room for a huge backyard — that includes covered patios with outdoor fireplaces, a cabana and gazebo, sunken basketball court, pool, spa, fruit and shade trees and a barbeque center.

Buying a house nearby is completely out of reach to those that don’t have a million dollar paycheck; mansions on the same street as Kourtney’s house cost between $20 to $30 million.

Most of Kourtney’s famous family lives nearby in the neighboring city of Hidden Hills.

2. Will Smith & Jada Pinkett Smith

Power couple Will Smith and Jada Pinkett Smith have one of the most luxurious homes in Calabasas. So much so, it has its own zip code!

The sprawling ranch nestled in the Santa Monica mountains has a man-made lake with views of Saddle Peak.

Jada and Will Smith’s house in Calabasas draws inspiration from Persian, Moroccan, Spanish, and Southwest American cultures.
Jada and Will Smith’s house in Calabasas draws inspiration from Persian, Moroccan, Spanish, and Southwest American cultures. Image credit: Roger Davies for Architectural Digest, inset DFree / Shutterstock.com

The couple purchased the 150-acre lot in 2003, and the 25,00-square-foot home — designed specifically for the Smiths by architect Stephen Samuelson — was completed seven years later, in 2010.

Now worth an estimated $42 million, the highly customized Calabasas compound boasts 9 bedrooms, a home theater, meditation lounge, 8-car garage, tennis court, basketball court and outdoor pool, to name a few of the fabulous features.

To read all about it, head on to our dedicated article on Jada and Will Smith’s many houses.

3. Rebecca Romijn & Jerry O’Connell

Joined by their twin daughters, longtime couple Rebecca Romijn and Jerry O’Connell live in a secluded home in Calabasas.

Rebecca-Romijn-and-Jerry-OConnell-house-Calabasas
Celebrity couple Rebecca Romijn and Jerry O’Connell live in a 1939-built Calabasas house. Photo credit: Google Maps, inset Kathy Hutchins / Shutterstock

Originally purchased for $1.3 million in November 2000 with her ex-husband, Full House star John Stamos, Romijn kept the Calabasas home that was built in 1939.

In an older interview, the model-actress said cowboy star Randolph Scott was one of the former owners. She also shared an interesting tidbit about the private property.

“[The house] used to be a whorehouse!” Romijn said. “When I found it, two old hippies were living here, and they were like, ‘There’s a lotta sexual energy here.’”

Together since 2004, Romijn and O’Connell were wed at their Calabasas home in 2007.

4. Nas

In 2021, rap star Nasir ‘Nas’ Jones joined the ranks of Calabasas celebrities by purchasing a sprawling estate for $3.5 million.

Rapper Nas' 6,500-square-foot Calabasas mansion he bought in 2021 for $3.5 million.
Rapper Nas lives in a 6,500-square-foot Calabasas mansion he bought in 2021 for $3.5 million. Photo credit: Redfin, inset DFree / Shutterstock

Built in 2007, the 6,500 square foot home features 4 bedrooms, 5.5 baths and 10.5+ acres of land with majestic mountain views.

The newly acquired Calabasas compound also boasts a gourmet kitchen, fireside family room, formal dining room, office, wine cellar, billiards room, wet bar, pool, waterslide and beautiful roof deck with views for days.

And it seems to be a perfect fit for Nas; the rapper, whose debut album Illmatic (1994) is considered to be one of the greatest hip hop albums of all-time, has an estimated net worth of $70 million.

5. John Travolta

Legendary actor John Travolta lives with his two children in a Mediterranean-style mansion in Calabasas.

Built in 1993, John Travolta's house is a Spanish-style home
Built in 1993, John Travolta’s house is a Spanish-style house that features an ultra-generous 7,500 square feet of living space. Photo credit: MLS, inset Featureflash Photo Agency / Shutterstock

Tragically, the Pulp Fiction star lost his beloved wife, and the kids’ mother, actress Kelly Preston, to cancer in 2020.

Just before her untimely passing, the couple purchased a stunning estate for $2.65 million in the celebrity-filled suburb of L.A.

Spanning 7,500 square feet, the mansion boasts 6 bedrooms, 6 bathrooms, 4 fireplaces, a library, wine closet, dining room, home office, chef’s kitchen, pool, spa and spectacular mountain views.

The romantic Spanish-style home has plenty of outdoor amenities that make the most of the picture-perfect location. It comes with an extensive patio space with a fireplace, a detached pergola lounge, a pool and spa, and gardens with meticulous landscaping.

More stories you might like

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Serving Up Naomi Osaka’s Budding Real Estate Portfolio: A Look at Her Two Beautiful Los Angeles Houses
Where Does Tina Turner Live Now? Her Swiss House and $76 Million ‘Weekend Retreat’
Inside Ellen Pompeo’s House and Multi-Million Dollar Real Estate Portfolio

Source: fancypantshomes.com

The Cheapest Neighborhoods in Washington, D.C. for Renters in 2022

The nation’s capital has so many things to do and so many affordable places to live.

Washington, D.C. is a thriving, vibrant city. It’s far more than just the seat of the country’s government and history. It’s a modern metropolis full of things to do, from bars and nightclubs to outdoor activities. There are enough museums and art galleries to keep you busy for two lifetimes. Everywhere you turn, there’s something going on, whether it’s concerts in the park or lectures at the library.

D.C. is one of the most diverse cities in the country. You’re likely to run into people from all over the nation and even the world. It’s even become one of the most popular cities in the U.S. for hipsters, thanks to a thriving bar and brewery scene. You’ll find your social circle here, no matter what it is!

Most of the neighborhoods are walkable and public transportation is readily available. Many residents don’t even own a car. If you’re moving to D.C. and pick the right neighborhood, you can get around using just the subway and the bus.

What is the average rent in Washington, D.C.?

The average rent in Washington, D.C. in January of 2022 was $2,604 for a two-bedroom apartment. This is a 15.87 percent increase over the prior year.

The 10 cheapest neighborhoods in Washington, D.C.

No matter what your tastes are, you can find a place you love in D.C. There are historic neighborhoods side by side with modern ones. The District is eight separate wards, each of which consists of multiple neighborhoods. While D.C. has a well-deserved reputation for being expensive, you can find some deals if you look.

These are the 10 cheapest neighborhoods in Washington, D.C. in descending order. Most of them are on the southeastern side of the city and are an easy commute to the Capitol District and Downtown.

10. Southeast Washington

Southeast Washington

Southeast Washington

Source: Rent.com/Washington View
  • Average 2-BR rent: $1,856
  • Rent change since 2021: -33.83%

Coming in at No. 10 on the list of cheapest places to live in Washington, D.C., Southeast Washington is south of Capitol Hill. It’s home to the Library of Congress and the Navy Yard. Fort Dupont Park holds concerts every summer and you can watch baseball games at National Park.

This neighborhood is popular with families. The schools are above average. Southeast Washington is well-connected to public transportation. Many people even walk to work. There’s also an ample number of restaurants and small stores located here.

9. Greenway

Greenway

Greenway

Source: Rent.com/Milestone Apartments
  • Average 2-BR rent: $1,609
  • Rent change since 2021: 0%

You’ll find Greenway on the southeast side of the city. It’s bounded by Pennsylvania Ave SE on the southern end and East Capitol Street on the north. It’s a residential neighborhood with plenty of families and young professionals.

Greenway has many parks and Fort Dupont Park runs along part of the eastern side of the neighborhood. There aren’t many shopping, entertainment or restaurant options within the neighborhood itself, but there are plenty within easy reach. If you want a primarily residential area that’s still in the heart of D.C., Greenway is a good choice.

8. Fort Dupont

Fort Dupont

Fort Dupont

Source: Rent.com/Fort Dupont Overlook
  • Average 2-BR rent: $1,609
  • Rent change since 2021: 0%

This neighborhood is on the southeastern side of D.C. and is home to both Fort Dupont Park and Fort Chaplin Park. The Benning Stoddard Recreation Center is also here. You’ll never run out of things to do if you like outdoor activities and live in Fort Dupont!

Many families call Fort Dupont home. It’s easy to get to public transportation and to commute anywhere in the city by car. The residential focus means you won’t find much in the way of nightlife, but there are a few restaurants and grocery stores to choose from.

7. Barry Farm

Barry Farm, one of the cheapest neighborhoods in Washington, D.C.

Barry Farm, one of the cheapest neighborhoods in Washington, D.C.

Source: Rent.com/Pomeroy Gardens
  • Average 2-BR rent: $1,541
  • Rent change since 2021: +0.63%

A historic neighborhood on the southeast side of D.C., Barry Farm has a dense urban feel and is primarily residential. Barry Farm has the distinction of being one of the few neighborhoods created by the Freedman’s Bureau after the Civil War that’s still in existence. It’s bounded by Suitland Parkway, the Southeast Freeway and St. Elizabeth’s Hospital.

Barry Farm is the neighborhood park and gives the neighborhood its name. It’s mostly residential but amenities are nearby, as is access to public transportation. Easy access to the highways also makes commuting a breeze. It’s popular with families, as more than a third of the residents are families with small children.

6. Marshall Heights

Marshall Heights

Marshall Heights

Source: Rent.com/5430 C St. SE
  • Average 2-BR rent: $1,475
  • Rent change since 2021: 0%

Marshall Heights is No. 6 on the list of most affordable neighborhoods in Washington, D.C. It’s on the southeastern edge of the city not too far from the Anacostia River. There are two subway stops and multiple bus stops within the neighborhood, and it also has easy access to the interstates for commuting.

Numerous parks and two recreation centers are here. There’s limited shopping and entertainment options, but it’s easy to access other areas of the city. Many families call Marshall Heights home. Shopping and restaurant choices are also limited.

5. Anacostia

Anacostia, one of the cheapest neighborhoods in Washington, D.C.

Anacostia, one of the cheapest neighborhoods in Washington, D.C.

Source: Rent.com/Marbury Plaza
  • Average 2-BR rent: $1,428
  • Rent change since 2021: +5.10%

This neighborhood borders Anacostia Park and is on the National Register of Historic Places. It’s full of parks and museums, such as the Frederick Douglas National Historic Site. Bike paths crisscross the neighborhood and its also served by both the D.C. Metro and the bus line. Anacostia is only a 10-minute subway ride from Downtown D.C.

The Anacostia Playhouse assures you’ll never run out of cultural events, and there are concerts in the parks every summer. While primarily residential, the neighborhood is home to supermarkets, restaurants and a few shopping centers, as well.

4. Congress Heights

Congress Heights

Congress Heights

Source: Rent.com/Meadowbrook Run
  • Average 2-BR rent: $1,286
  • Rent change since 2021: -3.72%

An up-and-coming historic neighborhood in southeastern D.C., Congress Heights has Anacostia Park and Joint-Base Anacostia Boiling on the west and the headquarters of the U.S. Coast Guard and the Entertainment and Sports Arena on the north and the Oxon Run National Parkway on the east. Not bad for one of the cheapest neighborhoods in Washington, D.C.!

Entertainment is what draws many people to live in Congress Heights. The Entertainment and Sports Arena has basketball games and live music year-round. If arts and culture are more your thing, check out the Congress Heights Arts and Culture Center, a place dedicated to showcasing local artists. The Town Hall Education Arts Recreation Campus (THEARC) and the Southeast Campus of the Washington Ballet are also located here.

You can also check out any of the many cafés and bars, spend time at numerous parks and work out at the SE Tennis & Learning Center. Like most D.C. neighborhoods, Congress Heights is well-connected to public transportation.

3. Bellevue

Bellevue, one of the cheapest neighborhoods in Washington, D.C.

Bellevue, one of the cheapest neighborhoods in Washington, D.C.

Source: Rent.com/The Vista
  • Average 2-BR rent: $1,200
  • Rent change since 2021: 0%

A historic neighborhood on the southeastern side of the District, Bellevue is almost surrounded by parks. It’s a great place to live if you want easy access to green space in the middle of the city! The Bald Eagle Recreation Center also has a 6,600-square-foot gym with a boxing ring, workout space and showers. Fort Greble Park has a splash pad and community garden.

Bellevue is a popular neighborhood for families with young children. Its location makes it easy to get to big employers, such as the Navy Yard and Joint Base Anacostia-Boiling. It’s only a 10-minute drive from the U.S. Capitol. There aren’t many shopping options within the neighborhood, but there are several large shopping centers nearby.

2. Historic Anacostia

Historic Anacostia

Historic Anacostia

Source: Rent.com/2317 16th St. SE
  • Average 2-BR rent: $1,122
  • Rent change since 2021: 0%

This is a smaller subsection of the larger Anacostia neighborhood and consists almost entirely of historic buildings erected between 1854 and 1930. It has one of the most unique architectural spaces of any neighborhood in the entire city. If you’re a fan of period architecture, you’ll love this neighborhood!

One of the best features of the neighborhood, aside from being one of the cheapest places to live in Washington, D.C., is Anacostia Park, an absolutely beautiful park adjoining the neighborhood on the western side and buffering it from the Anacostia River. You’ll find a variety of restaurants and shopping options within the neighborhood.

Despite its age, Historic Anacostia is part of the modern world with a connection to the D.C. Metro at Howard Road SE. Young professionals love this neighborhood with its easy commute to downtown and other employment centers.

1. Washington Highlands

Washington Highlands, the cheapest neighborhood in Washington, D.C.

Washington Highlands, the cheapest neighborhood in Washington, D.C.

Source: Rent.com/Overlook
  • Average 2-BR rent: $1,099
  • Rent change since 2021: +0.65%

Washington Highlands tops the list of cheapest neighborhoods in Washington, D.C. in 2022. This neighborhood is popular with families who have young children and the elderly. It sits between Oxon Run Park and Oxon Run National Parkway on the southeastern side of D.C. United Medical Center, a major local hospital, is on the northeastern border of the neighborhood.

Interstate 294 and Highway 210 are both easily accessible from this neighborhood. Public transportation also connects to the rest of the city. The Ferebee-Hope recreation center has indoor and outdoor basketball courts, an aquatic center and a gym. The other parks also have athletic facilities, and the Southeast Tennis and Learning Center are nearby.

You can catch cultural events at the ARC cultural arts center and the Oxon Run Amphitheater. There isn’t much nightlife in the area, but it’s an easy commute to more party-friendly neighborhoods of the city. You’ll also need to travel to find many shopping and eating options.

The most expensive neighborhood in Washington, D.C.

While the above list contains the most affordable neighborhoods in Washington, D.C., the most expensive neighborhood is Dupont Circle. You’ll need to bring home some serious money to afford it. A two-bedroom apartment in this neighborhood averaged $5,045 per month in January of 2022. That’s an increase of 7.48 percent over January of 2021.

Dupont Circle is an older neighborhood in the center of D.C. It’s a walkable neighborhood full of historic buildings and some of the most recognizable landmarks in the District, such as the Woodrow Wilson House. It’s popular with childless professionals. This is one of the most popular neighborhoods in the city, which is part of the reason it’s so expensive.

Find an affordable neighborhood for your next apartment

Washington, D.C. is an incredible place to live. Whether you’re into government, history or just modern urban living, you’ll love living in the nation’s capital. There are many apartments for rent in Washington, D.C. Use this list of the cheapest neighborhoods in Washington, D.C. to help you find your perfect match.

Rent prices are based on a rolling weighted average from Rent.com’s multifamily rental property inventory as of January 2022. Our team uses a weighted average formula that more accurately represents price availability for each unit type and reduces the influence of seasonality on rent prices in specific markets. The rent information included in this article is used for illustrative purposes only. The data contained herein do not constitute financial advice or a pricing guarantee for any apartment.

Source: rent.com