Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Fauquier County | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $770,334 | $257,048 | $242,182 |
| Price Trend (Annual %) | 12.2% | 4.1% | 8.2% |
| Median Gross Rent | $1,561 | $1,514 | $1,342 |
| Rent Trend (Annual %) | 4.1% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Fauquier County is about 200% higher than in Virginia. Rent is about 3% higher than the Virginia average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Fauquier County, up about 12.2% and 4.1% a year respectively. Home prices are changing faster.
Median rent in Fauquier County rose about 33.7% between 2015 and 2023, from $1,168 to $1,561. Over the same span, rent in Virginia rose about 35.7%.
Affordability
On average, housing unit costs 6.0 yearly household incomes in Fauquier County.
Buying the median-priced home in Fauquier County costs roughly 41.1 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Fauquier County. The price-to-rent ratio in Virginia is about 14.2.
| Metric | Fauquier County | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $770,334 | $257,048 | $242,182 |
| Median Household Income | $128,190 | $91,409 | $78,145 |
| Price-to-Income Ratio | 6.0 | 2.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Fauquier County rose about 135.2%, while median household income rose about 51.0% between 2009 and 2023 — 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 | Fauquier County | Virginia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 72.1% | 61.1% | 58.2% |
| Rental Rate | 20.2% | 29.9% | 31.3% |
| Vacancy Rate | 7.7% | 9.0% | 10.6% |
| Median Tenure (years) | 15.0 | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 | 2011 |
Fauquier County has a homeownership rate of 72.1%, higher than the Virginia average of 61.1%. Its housing vacancy rate is 7.7%, compared with 9.0% in Virginia.
Housing Stock
| Metric | Fauquier County | Virginia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.80 people | 2.53 people | 2.54 people |
| Median Structure Built Year | 1991 | 1981 | 1978 |
| Median Number of Rooms | 7.1 | 6.0 | 5.5 |
The typical housing unit in Fauquier County was built around 1991. On average, 2.8 people live in a home with about 7.1 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Fauquier County, Virginia.
What is the median home price in Fauquier County, Virginia?
The median home price in Fauquier County, Virginia is $770,334, higher than the Virginia average of $257,048.
What is the average home price in Fauquier County, Virginia?
The typical home price in %s, reported as the median sale price, is %s. 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 Fauquier County, Virginia?
The median gross rent in Fauquier County, Virginia is $1,561 per month, higher than the Virginia average of $1,514.
What was the median gross rent in Fauquier County in 2020?
In 2020, the median gross rent in Fauquier County, Virginia was $1,353 per month.
What is the price-to-rent ratio in Fauquier County, Virginia?
The price-to-rent ratio in Fauquier County, Virginia is about 41.1, meaning it would take roughly 41.1 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Fauquier County.
Are home prices or rent rising faster in Fauquier County, Virginia?
Both home prices and rent are rising in Fauquier County, up about 12.2% and 4.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Fauquier County, Virginia?
72.1% of households in Fauquier County, Virginia own their home, higher than the Virginia average of 61.1%.
What is the vacancy rate in Fauquier County, Virginia?
The housing vacancy rate in Fauquier County, Virginia is 7.7%, lower than the Virginia average of 9.0%.