How Much Is The White House Worth?
You probably won't be able to buy President Joe Biden's house any time soon — but, if the government could put the White House on the market, how much would they get? At least $445 million, according to the real estate listings service Zillow.
The value of the 16-bedroom, 35-bathroom home at 1600 Pennsylvania Avenue has been calculated by Zillow using a proprietary algorithm since 2009, Zillow said in a 2017 press release (via Business Insider). Zillow said the house went up in value by 15 percent alone during the eight years of the Obama presidency, which coincided with a housing market recovery after the 2008 economic crash.
"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," Zillow said in the four-year-old release. Now home values are rising even more quickly, and the White House is no exception: during the last year alone, as housing prices rose at record rates, Zillow calculates that the White House's worth rose from $413.1 million in January to $445.2 million in November — a rise of 7.77 percent in a single year.
But why exactly is the executive residence — home to every president since George Washington, who lived in Philadelphia during his time in office (via National Park Service) — so valuable?
55,000 square feet of amenities
If President Biden were to rent out the White House — and who knows, maybe he and Jill are interested in starting an AirBnB — they could net a cool $1,663,119 per month in rent, according to Zillow. But what does all that money actually get you?
Apart from the home's obvious historical significance, the six-story White House is a jewel of neoclassical-style architecture, influenced by the ancient buildings of Greece and Rome (via Curbed). The mansion sits on 18 acres — including a putting green, two fountains, the North and South lawns, and the famous Rose Garden — and contains an entire ecosystem of services and leisure activities.
Inside the White House, you'll find a music room, where former President Bill Clinton used to practice his saxophone; a gym, where presidents sweated away the stress and Michelle Obama toned her famous arms; a bowling alley, its current location installed by Richard Nixon; a movie theater, where presidents and their families can check out new releases; and even a chocolate shop (via Business Insider).
Of course, the building also contains the workplace of the executive branch, and is open to the public for tours, according to the National Park Service. This narrows the scope of the living space slightly — only the top two floors of the executive residence make up the private living area. No wonder that not every president loved living in the building: Harry Truman once called it a "glamorous prison," according to Business Insider.