White House Value Rose in Past Four Years

When the White House was first occupied, by John and Abigail Adams, in November of 1800, the U.S. government had spent about $232,000 to build the president's residence. That building, burned during the War of 1812, is worth about $284.9 million today, according to real-estate website Zillow. That's up 1.5% since 2008, but below the the 2006 valuation of $299.9 million.

That's some serious appreciation, considering that on an inflation-adjusted basis, the building's cost in 2011 would have been just over $3 million. Now the rebuilding, remodeling, and expansion costs after the White House burned (twice, 1812 and again in 1929) and following renovations and expansions by a number of presidents is very likely to be much higher. The GSA, for example, is currently in the midst of a four-year renovation project that has been budgeted at $376 million.

But the true value of the White House comes from its historic significance and its famous residence. The Wall Street Journal cites a historic-homes marketing specialist who valued the White House at $1.5 billion.

Of course no resident lives there for more than eight years now, and frequent turnover could have a negative effect on that estimate.

Paul Ausick


Filed under: 24/7 Wall St. Wire, Housing, Politics Tagged: featured

Increase your money and finance knowledge from home

Investing in Startups

The lucrative and risky world of startups.

View Course »

Asset Allocation

Learn the most important step in structuring an investment portfolio.

View Course »

Add a Comment

*0 / 3000 Character Maximum

1 Comment

Filter by:
Bernie Brzostek

Can you imagine what the property taxes would be on 1.5 Billion Dollar Assessment would be? If you were in Central New York the taxes would be $7,500,000 per year, $625,000 per month, $144,230.77 per week and $20,547.95 per day. That's why people are leaving Central New York.

November 02 2012 at 7:25 PM Report abuse rate up rate down Reply