Fairfax, Virginia Housing Market Prices
Fairfax Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price About the same as the Virginia median$255,556
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Median rent 42% above the Virginia median$2,245
Housing Market Overview
| Metric | Fairfax | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $255,556 | $256,082 | $248,835 |
| Price Trend (Annual %) | 103.9% | 3.5% | 7.5% |
| Median Gross Rent | $2,245 | $1,579 | $1,407 |
| Rent Trend (Annual %) | 3.2% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Fairfax is about the same as in Virginia. Rent is about 42% higher than the Virginia average.
Median Home and Rent Price Trends
Median Home Prices, 2022-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Fairfax, up about 103.9% and 3.2% a year respectively. Home prices are changing faster.
Median rent in Fairfax rose about 32.7% between 2015 and 2024, from $1,691 to $2,245. Over the same span, rent in Virginia rose about 41.5%.
Affordability
On average, housing unit costs 1.9 yearly household incomes in Fairfax.
Buying the median-priced home in Fairfax costs roughly 9.5 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Fairfax. The price-to-rent ratio in Virginia is about 13.5.
| Metric | Fairfax | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $255,556 | $256,082 | $248,835 |
| Median Household Income | $133,457 | $93,527 | $80,455 |
| Price-to-Income Ratio | 1.9 | 2.7 | 3.1 |
Home Prices vs Income Over Time
Between 2022 and 2024, the median home price in Fairfax rose about 36.3%, while median household income rose about 32.0% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Fairfax | Virginia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 68.7% | 61.5% | 58.5% |
| Rental Rate | 29.6% | 29.8% | 31.2% |
| Vacancy Rate | 1.7% | 8.7% | 10.2% |
| Median Tenure (years) | 12.0 | 15.0 | 15.0 |
| Median Year Moved In | 2014 | 2011 | 2011 |
Fairfax has a homeownership rate of 68.7%, higher than the Virginia average of 61.5%. Its housing vacancy rate is 1.7%, compared with 8.7% in Virginia.
Housing Stock
| Metric | Fairfax | Virginia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.68 people | 2.52 people | 2.53 people |
| Median Structure Built Year | 1971 | 1982 | 1978 |
| Median Number of Rooms | 6.6 | 6.0 | 5.5 |
The typical housing unit in Fairfax was built around 1971. On average, 2.7 people live in a home with about 6.6 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Fairfax, Virginia.
What is the median home price in Fairfax, Virginia?
The median home price in Fairfax, Virginia is $255,556, about the same as the Virginia average.
What is the average home price in Fairfax, Virginia?
The typical home price in Fairfax, Virginia, reported as the median sale price, is $255,556. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Fairfax, Virginia?
The median gross rent in Fairfax, Virginia is $2,245 per month, higher than the Virginia average of $1,579.
What was the median gross rent in Fairfax in 2020?
In 2020, the median gross rent in Fairfax, Virginia was $1,822 per month.
What is the price-to-rent ratio in Fairfax, Virginia?
The price-to-rent ratio in Fairfax, Virginia is about 9.5, meaning it would take roughly 9.5 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Fairfax.
Are home prices or rent rising faster in Fairfax, Virginia?
Both home prices and rent are rising in Fairfax, up about 103.9% and 3.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Fairfax, Virginia?
68.7% of households in Fairfax, Virginia own their home, higher than the Virginia average of 61.5%.
What is the vacancy rate in Fairfax, Virginia?
The housing vacancy rate in Fairfax, Virginia is 1.7%, lower than the Virginia average of 8.7%.
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