Fair Lakes, VA is an affluent area in the Washington D.C. metropolitan region that has seen a steady rise in housing median values over the past year. The median value of a house in Fair Lakes is much higher than the national median value of $338,100 at $552,200 - however, appreciation rate has been noticeably slower than US households which was 8.27% compared to the Fair Lakes' appreciation rate of 3.59%. Despite this slow appreciation rate, housing prices remain high for buyers looking for homes in this area.
The median home cost in Fair Lakes is $552,200. Home appreciation the last 10 years has been 55.5%. Home Appreciation in Fair Lakes is up 8.6%.
Average Age of Homes
- The median age of Fair Lakes real estate is 19 years old
The Rental Market in Fair Lakes
- Renters make up 38.0% of the Fair Lakes population
- 0.7% of houses and apartments in Fair Lakes, 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.