Fairfax, VA County is a desirable place to live due to its proximity to Washington D.C. and other major cities in the area. The median value for housing in Fairfax County is $639,000 which is much higher than the US House Median Value of $338,100. Despite this high median value, the 1 year house appreciation rate in Fairfax County stands at 5%, lower than the US average of 8.27%. This indicates that while house prices are high compared to the national average, they are not rising as quickly as other areas in the nation.
The median home cost in Fairfax County is $639,000. Home appreciation the last 10 years has been 59.4%. Home Appreciation in Fairfax County is up 8.7%.
Average Age of Homes
- The median age of Fairfax County real estate is 36 years old
The Rental Market in Fairfax County
- Renters make up 30.5% of the Fairfax County population
- 1.3% of houses and apartments in Fairfax County, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.