President Obama purchased the home he was previously leasing for $22,000/month in the upscale neighborhood of Kalorama in Washington D.C. President Obama’s House was estimated to be worth $5.9 million at the time of their lease in May 2016, but in June 2017 they paid $8.1 million for the home – $2.2 million more than the home was estimated to be worth. This is also the neighborhood where Ivanka Trump and Jared Kushner purchased a home after it was announced they would have official White House gigs.
They bought the homes from former White House Press Secretary Joe Lockhart.