If you own a home in one of the DMV’s historic neighborhoods — or you’re thinking about buying in one — you’ve probably heard that historic designation is good for property values. But is it actually true? And does it matter which type of designation your property has?
A new peer-reviewed study published in Regional Science and Urban Economics (Elsevier, 2025) gives us a data-driven answer. And the findings are more nuanced than most people realize.
What the Research Actually Says
The study compared property values in newly designated historic districts against those in proposed or eligible-but-not-yet-designated areas — isolating the actual effect of designation on home prices.
Here’s what they found:
- National Register of Historic Places listing: property values increase 9-12% after designation
- Local historic district designation: values tend to decline after designation, once you account for overlap with National Register districts
- Sales volume increases in both types of districts after designation — demand goes up regardless
That last point matters. Even where prices dip with local designation, more buyers are showing up. The market is active. The question is whether you’re pricing and positioning your property correctly for it.
Why the Type of Designation Matters
Not all historic districts are the same — and this is where most buyers and sellers get confused.
National Register of Historic Places
This is a federal designation administered by the National Park Service. It recognizes a district as historically significant and comes with financial incentives for rehabilitation — but no restrictions on what you can do with your property. No approval required for renovations. No design review board. Just recognition, incentives, and a documented 9-12% price premium.
Local Historic District Designation
This is a municipal designation administered at the city or county level through a Historic Preservation Commission (HPC). Exterior modifications typically require approval, materials may be restricted, and renovation timelines can stretch. The study found that this regulatory burden, when separated from the National Register halo effect, is associated with price declines.
The good news: many DMV properties carry both designations. Homes that sit in a locally designated district that also receives National Register listing see price increases that largely offset the local designation decline.
Knowing what your property carries — and what it doesn’t — changes everything about how you price, negotiate, and buy.
National Register Historic Districts in the DMV
Here’s a working reference of National Register historic districts across the region:
Prince George’s County, MD
- Hyattsville Historic District
- Mount Rainier Historic District
- Greenbelt Historic District (National Historic Landmark)
- Fairmount Heights Historic District
- North Brentwood Historic District
- University Park Historic District
- College Heights Estates
- West Riverdale Historic District
- Calvert Hills Historic District (College Park)
- Old Town College Park Historic District
Montgomery County, MD
- Takoma Park Historic District
- Sandy Spring Historic District
- Kensington Historic District
- Chevy Chase Historic District
Washington, D.C.
Washington D.C. has over 70 historic districts. Key residential National Register districts include:
- Capitol Hill Historic District
- Georgetown Historic District
- Logan Circle Historic District
- Dupont Circle Historic District
- Columbia Heights Historic District
- Takoma (D.C.) Historic District
- Shaw Historic District
- LeDroit Park Historic District
- Anacostia Historic District
- Bloomingdale Historic District
- Fourteenth Street Historic District
Northern Virginia
- Old Town Alexandria Historic District
- Del Ray Historic District (Alexandria)
- Clarendon Historic District (Arlington)
- Falls Church Historic District
What This Means for You
If you own in a National Register district, you may be sitting on a measurable price advantage you haven’t fully accounted for. If you own in a locally designated district, the picture is more nuanced — and how you price and market your home needs to reflect that.
Either way, the data confirms what I’ve watched happen on these streets for over a decade: designation matters, demand in historic corridors is real, and the buyers who win — and the sellers who maximize value — are the ones who understand exactly what they’re working with.
I live in the Hyattsville Historic District. I’ve spent 12 years buying, selling, and investing in the DMV’s historic neighborhoods. If you’re thinking about buying or selling in one of these corridors, let’s talk.
Source
Regional Science and Urban Economics, Elsevier (2025).
https://www.sciencedirect.com/science/article/abs/pii/S0166046225000742
About the Author
Kayleigh Kulp is a real estate agent, advisor, and historic district specialist in the DMV. A 12-year resident of the Hyattsville Historic District, she specializes in historic homes, estate sales, and unique properties across D.C., Maryland, and Northern Virginia. | Amity Rose Properties | @kayleighkulp
