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 | Loudoun County | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $389,027 | $257,048 | $242,182 |
| Price Trend (Annual %) | -0.0% | 4.1% | 8.2% |
| Median Gross Rent | $2,316 | $1,514 | $1,342 |
| Rent Trend (Annual %) | 4.5% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Loudoun County is about 51% higher than in Virginia. Rent is about 53% 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 falling in Loudoun County, down about 0.0% and 4.5% a year respectively. Rent is changing faster.
Median rent in Loudoun County rose about 38.9% between 2015 and 2023, from $1,668 to $2,316. Over the same span, rent in Virginia rose about 35.7%.
Affordability
On average, housing unit costs 2.2 yearly household incomes in Loudoun County.
Buying the median-priced home in Loudoun County costs roughly 14.0 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 Loudoun County. The price-to-rent ratio in Virginia is about 14.2.
| Metric | Loudoun County | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $389,027 | $257,048 | $242,182 |
| Median Household Income | $179,334 | $91,409 | $78,145 |
| Price-to-Income Ratio | 2.2 | 2.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Loudoun County rose about 2.6%, while median household income rose about 59.3% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Loudoun County | Virginia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 75.8% | 61.1% | 58.2% |
| Rental Rate | 21.5% | 29.9% | 31.3% |
| Vacancy Rate | 2.7% | 9.0% | 10.6% |
| Median Tenure (years) | 14.0 | 15.0 | 15.0 |
| Median Year Moved In | 2012 | 2011 | 2011 |
Loudoun County has a homeownership rate of 75.8%, higher than the Virginia average of 61.1%. Its housing vacancy rate is 2.7%, compared with 9.0% in Virginia.
Housing Stock
| Metric | Loudoun County | Virginia Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.05 people | 2.53 people | 2.54 people |
| Median Structure Built Year | 1997 | 1981 | 1978 |
| Median Number of Rooms | 7.3 | 6.0 | 5.5 |
The typical housing unit in Loudoun County was built around 1997. On average, 3.0 people live in a home with about 7.3 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Loudoun County, Virginia.
What is the median home price in Loudoun County, Virginia?
The median home price in Loudoun County, Virginia is $389,027, higher than the Virginia average of $257,048.
What is the average home price in Loudoun 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 Loudoun County, Virginia?
The median gross rent in Loudoun County, Virginia is $2,316 per month, higher than the Virginia average of $1,514.
What was the median gross rent in Loudoun County in 2020?
In 2020, the median gross rent in Loudoun County, Virginia was $1,913 per month.
What is the price-to-rent ratio in Loudoun County, Virginia?
The price-to-rent ratio in Loudoun County, Virginia is about 14.0, meaning it would take roughly 14.0 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 Loudoun County.
Are home prices or rent rising faster in Loudoun County, Virginia?
Both home prices and rent are falling in Loudoun County, down about 0.0% and 4.5% a year respectively. Rent is changing faster.
What is the homeownership rate in Loudoun County, Virginia?
75.8% of households in Loudoun County, Virginia own their home, higher than the Virginia average of 61.1%.
What is the vacancy rate in Loudoun County, Virginia?
The housing vacancy rate in Loudoun County, Virginia is 2.7%, lower than the Virginia average of 9.0%.