Obamas Buy $11M Martha’s Vineyard Mansion – NMP Skip to main content

Obamas Buy $11M Martha’s Vineyard Mansion

Dec 06, 2019
Photo credit: Getty Images/cindygoff

Former President Barack Obama and former First Lady Michelle Obama have reportedly purchased a 29-acre estate on Martha’s Vineyard for $11.75 million.
 
According to a report in The Hill, the Obamas acquired a nearly 7,000-square-foot home with seven bedrooms, eight-and-a-half bathrooms, two guest wings, a boathouse and a pool. The property is located in Edgartown, Mass., and its former owners are reportedly Boston Celtics owner Wycliffe Grousbeck and his ex-wife, Corinne Grousbeck. The Obamas visited Martha’s Vineyard for summer vacation during their White House years and rented their new home last summer while visiting the island.
 
The purchase is the latest example of the Obamas’ rise to wealth over the past decade. According to Business Insider, they entered the White House in 2009 with a $1.3 million net worth in 2008 which has since grown to $40 million. They also own property in Chicago and Washington, D.C.

 
About the author
Published
Dec 06, 2019
Trump Taps Former CFPB Deputy Brian Johnson To Lead Bureau

MBA backs the nomination as lenders await clarity on the future direction of consumer finance regulation under the Trump administration

Jun 12, 2026
Trump Names FHFA Director Bill Pulte Acting Director Of National Intelligence

FHFA director will continue overseeing Fannie Mae and Freddie Mac while serving as acting director of national intelligence

Jun 02, 2026
Realtor.com Launches AI Home Search Platform Built With Google

New RealAssist tool combines AI, affordability guidance and Google Maps data to engage buyers before they reach lenders

Jun 02, 2026
Another MLS Challenges Zillow In Fight Over Listing Visibility

Realtracs joins MRED in pushing back on Zillow's listing policies, a battle with potential implications for the broader homebuying and mortgage ecosystem

May 29, 2026
Gas Prices Are Quietly Reshaping Homebuyer Affordability

Rocket Money data suggests rising fuel costs are adding pressure to already payment-sensitive buyers as mortgage rates remain elevated

May 28, 2026
MISMO Targets Costly TRID Fee Cures With New Mortgage Fee Standardization Framework

MBA’s standards organization says inconsistent fee naming still drives costly redisclosures and rework, with fee-related cures affecting more than 30% of mortgage loans

May 27, 2026