While filming my recent video about living in the Southwest Waterfront, I came across an interesting contrast between condos and co-ops. The real estate numbers in the area are odd due to the high number of co-op buildings. For example, a typical DC condo might cost $450k–$800k with monthly fees around $250–$850, while a co-op could cost $80,000 with fees as high as $2,300 a month. This prompted me to break down the key differences between condos and co-ops.
Southwest DC has more co-ops per square foot than other areas of the DMV because much of it was rebuilt between the 1950s and 1970s, and co-ops were a popular way of structuring apartment style living at the time. There are 119 active co-op listings in the DMV, mostly in DC, Bethesda, and Arlington, compared to over 1,000 active condo listings—meaning co-ops make up a much smaller market.
Notable co-op buildings include the Watergate Complex in Foggy Bottom and River Place in Arlington.
The main difference is ownership. When you buy a co-op, you aren’t buying the property itself but shares in a corporation that owns the property, along with a lease for your unit. This gives you voting rights and the option to run for the board of directors. Condos operate similarly but tend to have smaller, less collaborative boards, and owners often come and go faster as they look for a quicker return on investment.
Another key distinction is that co-op buyers don’t technically own the land. Instead, they pay rent via a ground lease, which is long-term but can adjust every 30 years or so. Monthly fees differ as well: condos charge for maintenance and projects like parking, pools, and security, while co-ops charge for these plus their share of the ground lease and other costs. However, co-ops typically cover more maintenance responsibilities, such as pipes and leaks, which can reduce individual burdens.
Co-ops are less expensive upfront—like $80,000 for a one-bedroom or $175,000–$220,000 for a two-bedroom—but their monthly fees are higher, which can balance out the savings. Another hurdle is the co-op interview process, where prospective buyers are screened by review boards. These interviews can be intimidating, and while they’re meant to ensure financial stability, they sometimes raise fair housing concerns, especially in DC.
Co-op boards may also require higher down payments or full cash payments upfront and impose stricter leasing rules, such as requiring owners to live in their units for a period before renting them out. These policies are meant to encourage long-term ownership.
So, are co-ops better? They offer lower purchase prices, less maintenance (since the co-op covers many responsibilities), and dispute resolution through the co-op board instead of directly with neighbors. However, the interview process, stricter rules, and higher monthly fees can be drawbacks. If you value community and long-term living, a co-op might be for you. If you want a quicker return on investment, a condo is likely the better choice.
Full Video Here: https://www.youtube.com/watch?v=wHQe7FnS1Q0
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