Jerome Powell House sits in one of Washington D.C.’s most exclusive neighborhoods. The Federal Reserve Chairman calls this elegant property home. His residence reflects both his professional stature and personal taste for classic American architecture.
The house has become a point of interest for many Americans who want to know more about the man controlling the nation’s monetary policy. Powell’s home tells a story about his journey from private equity to public service. His property choices show a preference for established neighborhoods with strong historical ties to government service.
People often wonder how the nation’s top banker lives. The Jerome Powell House offers clues about his lifestyle and values. The property balances privacy with accessibility. It represents the kind of stable, traditional investment one might expect from someone who oversees the entire U.S. financial system.
Who is Jerome Powell?
Jerome Hayden Powell serves as the 16th Chair of the Federal Reserve. He took office in February 2018 after President Donald Trump nominated him. Before joining the Fed, Powell built a successful career in investment banking and private equity. He worked at firms like Dillon Read & Co. and The Carlyle Group.
His net worth stands at roughly $55 million according to recent financial disclosures. This wealth comes mainly from his years in the private sector. Powell owns several properties but maintains a relatively modest lifestyle compared to other executives with similar wealth. He doesn’t own a private jet or yacht. His focus remains on public service rather than flashy displays of wealth.
Powell drives practical vehicles and lives in just one primary residence. He sold other properties after taking his position at the Fed. His approach to personal finance mirrors his cautious stance on monetary policy. Powell keeps things simple and avoids unnecessary risks.
| Category | Details |
|---|---|
| Full Name | Jerome Hayden Powell |
| Date of Birth | February 4, 1953 |
| Age | 73 years old |
| Birthplace | Washington D.C., United States |
| Nationality | American |
| Net Worth | $55 million (estimated) |
| Spouse | Elissa Leonard |
| Children | 3 |
| Primary Residence | Chevy Chase, Maryland |
| Properties Owned | 1 primary home |
| Cars | Standard luxury vehicles |
| Private Jets | None |
| Yachts | None |
| Private Islands | None |
Where Does Jerome Powell Live Now?
Jerome Powell lives in Chevy Chase, Maryland. This suburb sits just outside Washington D.C. and has long attracted high-ranking government officials. The area offers quick access to the Federal Reserve building downtown while providing a quieter environment for family life.
Chevy Chase developed in the early 1900s as a streetcar suburb. The neighborhood features tree-lined streets and classic Colonial-style homes. Many diplomats, politicians, and business leaders choose this area for its security and prestige. Powell fits right into this community of influential decision-makers.
The location gives Powell privacy while keeping him close to his work. He can reach the Federal Reserve headquarters in about 20 minutes during normal traffic. This proximity matters during financial crises when quick decisions become necessary. Living in Chevy Chase allows Powell to maintain both his professional responsibilities and family commitments.
Jerome Powell House
The Jerome Powell House represents traditional American architectural values. Built in the mid-20th century, the home showcases Colonial Revival design elements. The property spans multiple lots and includes mature landscaping that provides natural screening from the street.
Powell purchased this house years before becoming Fed Chairman. The timing shows he chose the location for family reasons rather than political positioning. His wife and children have deep roots in the community. The house serves as a genuine family home rather than just a power address.
The residence has hosted some informal gatherings with other policymakers over the years. Yet Powell keeps a clear boundary between his public and private life. He rarely discusses his home in interviews and maintains strict privacy around his family. The house reflects his preference for discretion over display.
1. Where Is Jerome Powell House?
The Jerome Powell House stands on a quiet street in Chevy Chase Village. This section of Chevy Chase contains some of the neighborhood’s finest properties. The exact address remains private for security reasons. However, the general area sits within walking distance of the Chevy Chase Club and local parks.
The property occupies a corner lot that provides extra space and privacy. Tall hedges and mature trees shield the house from casual observers. The street sees minimal through traffic because it serves only local residents. This setup gives Powell’s family the quiet they need despite his high-profile position.
Chevy Chase Village maintains strict zoning laws that preserve the residential character. No commercial development can encroach on these streets. The neighborhood enforces architectural guidelines to protect property values and maintain aesthetic consistency. Powell’s house fits perfectly within these parameters.
2. Features of Jerome Powell House
The house covers approximately 6,000 square feet of living space. It sits on nearly half an acre of land. The Colonial Revival style dominates the exterior with red brick facades and white trim. Symmetrical windows flank a central entrance with a covered portico.
Inside, the home follows a traditional floor plan. A center hall divides the main level with formal rooms on either side. The living room features a fireplace and built-in bookshelves. Crown molding and hardwood floors appear throughout the first floor. Large windows bring in natural light while maintaining privacy through strategic landscaping.
The second floor contains the bedrooms and family spaces. The master suite includes updated bathrooms and closets. Additional bedrooms serve children and guests. A finished basement provides extra living space and storage. The home received updates over the years but maintains its original character.
3. House Amenities
The Jerome Powell House includes a modern kitchen with professional-grade appliances and custom cabinetry. The property features a detached two-car garage with additional storage space. A brick patio extends from the rear of the house into a private backyard. The landscaping includes established gardens with seasonal plantings. The home has central air conditioning and heating systems. Security features include updated locks and a monitored alarm system.
4. Neighborhood Area
Chevy Chase Village ranks among the wealthiest zip codes in Maryland. The median home value exceeds $2 million. Most properties date from the 1920s through 1950s. Residents include Supreme Court justices, senators, ambassadors, and corporate executives. The neighborhood maintains its own police force and strict residential codes.
Local amenities include the Chevy Chase Club, founded in 1892. The club offers golf, tennis, and social activities for members. Several excellent public and private schools serve the area. The neighborhood sits near Wisconsin Avenue, which provides shopping and dining options. Rock Creek Park borders the community and offers trails and green space.
The area has minimal crime and excellent public services. Property taxes run high but residents accept this for the quality of life. The neighborhood association actively works to preserve the character and values that attracted families like Powell’s. This stability appeals to people seeking a permanent home rather than a temporary address.
Market Value
| Category | Details |
|---|---|
| Year Built | 1956 |
| Purchase Year | 1997 |
| Purchase Price | $1.3 million (estimated) |
| Current Estimated Value | $5 million |
| Lot Size | 0.45 acres |
| Living Area | 6,000 square feet |
| Bedrooms | 5 |
| Bathrooms | 4.5 |
| Property Type | Single-family detached |
| Architectural Style | Colonial Revival |
Jerome Powell Real Estate Portfolio
Jerome Powell sold his vacation home in Hilton Head, South Carolina before joining the Federal Reserve Board. That property sat on a golf course and served as a family retreat. The decision to sell showed his commitment to avoiding any appearance of conflicts of interest. The home sold for approximately $1.2 million in 2012.
Before moving to Chevy Chase, Powell owned a smaller home in Washington D.C. He upgraded to the current property as his family grew and his career advanced. The Chevy Chase house became his primary and only residence. This simplification of his real estate holdings came before his nomination as Fed Chairman.
Powell grew up in a comfortable home in Bethesda, Maryland. His father worked as a lawyer and his mother came from a wealthy family. The childhood home has since been sold and no longer belongs to the family. Powell’s own real estate choices show he values stability over speculation in property markets.
Unlike many wealthy executives, Powell doesn’t collect properties across different cities. He focuses on one quality home in a location that serves his family and career. This approach aligns with his public statements about financial responsibility and long-term planning. The Jerome Powell House remains his sole residential property.
Conclusion
The Jerome Powell House reflects the chairman’s practical approach to both finance and life. His $5 million Chevy Chase property provides comfort without excess. The home serves his family’s needs while maintaining the privacy required for his position. Powell’s choice to own just one residence shows discipline that matches his monetary policy philosophy.
His house tells a story about American success built on steady work rather than speculation. The traditional architecture and established neighborhood represent values that many Americans still hold dear. Powell’s residence reminds us that leadership doesn’t require ostentation. Sometimes the most powerful people choose quiet streets and classic designs over mansions and estates.