Maybe if you buy a a house in Old Town or McClean, or a condo right downtown. But I can't see anyone having trouble with that amount on Capitol Hill, Southwest or Columbia Heights, or anywhere in Fairfax County.
Go look up real estate values in Fairfax county and tell me what $500K gets you. Since I lived up there not too long ago I can tell you that it buys you a 20 year old house in Hernandez (Herndon). If you live in the District you have to pay for private school because no one with any smarts sends their kids to public school there.