The White
House is worth $397.9 million, according to real-estate listings firm Zillow.
The home of
every US president except George Washington gained 15% in value during
President Barack Obama's eight years in office, according to a release on
Tuesday. Zillow said it first calculated the White House's worth in 2009 using
a proprietary algorithm.
"President
Obama's term coincided with a massive recovery of the US housing market, and
that's reflected in the updated value of the White House," the release
noted. Home values across the country
are growing at their fastest pace since 2006, with many markets setting
new records -- one of the reasons why the White House is worth more now than it
has ever been."
In October,
US home prices extended to their best levels since the financial crisis,
according to the latest data from S&P/Case-Shiller.
Renting the
132-room building at 1600 Pennsylvania Avenue would set you back $2.08 million
every month, according to Zillow. Zillow in fact has a listing page for the
White House which shows off features including a fitness center, basketball
court and controlled access.
Obviously,
it's off the market, since President-elect Donald Trump effectively signed the
lease in November. Trump will be moving from his equally luxurious digs in
Trump Tower, New York.
Unlike many
former presidents, the Obamas will live in Washington DC after they leave the
White House later this week. Their new home, a 9-bedroom house in the nearby
neighborhood of Kalorama, was sold for more than $5 million in 2014 according
to CNN.
Zillow
estimated that the Obama's monthly rent would be $22,000. Ivanka Trump and
Amazon CEO Jeff Bezos will be close neighbors.
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