Amazon's New Headquarters in Virginia: What We Know About HQ2 Location

Amazon is in advanced talks about installing the company's second headquarters, more commonly known as HQ2, in the Crystal City neighborhood of Arlington County, Virginia, according to the Washington Post.

The wider DC region was considered a likely candidate for QG2 because of its proximity to the home of CEO Jeff Bezos and, most importantly, federal lawmakers. Three of Amazon's 20 finalists were there – Washington, DC, Montgomery County, and Northern Virginia – suggesting that the place had a better chance than others.

Here is what we know about the region:

• Arlington County has about 230,000 residents and has seen its population increase by 13% over the last decade, according to the Census Bureau. By comparison, it's pretty much the same as Madison, Wisconsin or Scottsdale, Arizona.
• Its median home selling price of $ 553,000 is much higher than the national median of $ 220,000, according to the Trulia residential real estate company. Nevertheless, it is cheaper than the $ 685,000 median house price in Seattle, where Amazon's current headquarters are based.
• Its cost for offices is cheaper than the national average. In Northern Virginia, high-end central office space costs $ 35.40 per square foot, lower than the national average of $ 37.35 and the Seattle average of $ 38.73, according to second-quarter estimates 2018 of commercial real estate company Cushman & Wakefield.
• With a vacancy rate of 19.4%, the occupancy rate of Class A premises is also higher than the US average of 12.3%, which means that it will be easier for Amazon to rent local. It is much more difficult to find offices in Seattle, whose vacancy rate is less than 8%.
• Downtown Crystal City is an 11-minute subway ride from Ronald Reagan Washington National Airport, Mexico's favorite airport. It's faster than most other QG2 cities. It takes about 22 minutes by car – with no traffic – and nearly 50 minutes by public transit to reach Seattle Airport from Amazon's headquarters.
• Crystal City is also an 11-minute drive from Capitol Hill without much traffic.
• According to the CBRE real estate research firm, the average salary for talented technicians in the surrounding area is $ 111,111 per year. It is the second most expensive finalist city after New York. That's a little less than the $ 117,000 a year paid in Seattle.
• In CBRE's annual annual report, D.C. ranks third among US cities as the best place for technology talent. Seattle ranked No. 2 this year.
• It is close to many higher education institutions, including Georgetown, George Washington, and American universities.