Obamas' moving in boosts White House's market value

Washington, Jan. 18 (ANI): White House's value has increased about 7 percent to an estimated 294.9 million dollars since President Barack Obama, his wife, and their daughters, Sasha and Malia, moved into the property.

According to housing marketplace Zillow, when the first family moved into 1600 Pennsylvania Avenue, it was worth an estimated 275.6 million dollars, ABC News reported.

Zillow calculated the value of the White House as if it were a estate that could be bought and sold, using its proprietary Zestimate algorithm, which determines a home's estimated worth based in part on public data and recent sales.

The monthly mortgage payment on the historic home, including taxes, insurance, principle and interest, would be 1,130,832 dollars. The monthly rent is estimated at 1.75 million dollars. (ANI)


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