Fairfax, VA—22031
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Fairfax, VA
As of Oct '25, the median home price in Fairfax, VA is $754,000, with a year-over-year change of 1.2%. This indicates that home prices in Fairfax, VA are increasing. According to Zillow, the 1-year price projection is -0.1%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $754,000 | 1.2% |
| Single Family | $883,000 | 0.7% |
| Condos | $408,000 | 0.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $294,000 | 0.0% |
2 Bed | $501,000 | 1.0% |
3 Bed | $679,000 | 0.7% |
4 Bed | $1,012,000 | 1.2% |
| 5 Bed | $1,182,000 | 1.5% |
% of Housing Stock
Rental Trends — Fairfax, VA
As of July '25, Rentcast reports the average rent in Fairfax, VA is $3,150, with a year-over-year rent change of 16.2%. Per bedroom, the median rent as of July '25 in Fairfax, VA is studios: $2,170, 1-bedrooms: $1,970, 2-bedrooms: $2,620, 3-bedrooms: $3,610, 4-bedrooms: $3,980. The most common rental property sizes in Fairfax, VA are 2-bedroom and 1-bedroom, accounting for 36.7% and 35.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,200 | $3,150 |
| Studio Rent | $2,120 | $2,170 |
| 1 Bed Rent | $2,000 | $1,970 |
| 2 Bed Rent | $2,500 | $2,620 |
| 3 Bed Rent | $3,600 | $3,610 |
| 4 Bed Rent | $3,900 | $3,980 |
% of Rental Stock
Property Listings — Fairfax, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Fairfax, VA is 36. This is a increase of 55.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 32.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $735,000 | 2.0% |
Listing Count | 76 | 45.0% |
| Listings as % of Homes | 0.3% | 45.0% |
Days on Market | 36 | 55.0% |
Demographics — Fairfax, VA
As of the latest ACS Survey released in 2023, Fairfax, VA has a population of 36,600, which has increased by 11.5% over the past 5 years. Fairfax, VA is a moderately popular place for families, as children make up 19.6% of the population. The area has a highly educated workforce, with 72.3% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 27.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 36,600 | 11.5% |
% Under 18 | 19.6% | -3.4% |
% Seniors | 10.9% | -9.9% |
% WFH | 27.5% | 391.1% |
% w/ College Degree | 72.3% | 8.6% |
As of the latest ACS Survey released in 2023, Fairfax, VA is a predominantly white area, with 47.1% of the population identifying as white. The white population has grown by 1.9% in the last 5 years. The second most common race or ethnicity in Fairfax, VA is asian, making up 30.7% of the population. Foreign-born residents account for 38.9% of the population in Fairfax, VA, and this percentage has decreased by 0.8% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 47.1% | 1.9% |
% Black | 6.7% | -14.1% |
% Hispanic | 10.1% | -18.5% |
% Asian | 30.7% | 11.2% |
% Foreign Born | 38.9% | -0.8% |
Mortgage and Risk — Fairfax, VA
According to HUD data as of 2023, there were 452 mortgage originations in Fairfax, VA, of which 91.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 18.0% above 90% LTV (elevated). This implies medium mortgage risk in Fairfax, VA. Investor activity is low, as 1.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 452 |
% Conventional Loans | 91.0% |
% Government Loans | 9.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Fairfax, VA
As of 2024, the percent of homes in Fairfax, VA under the Section 8 program is 3.9%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Fairfax, VA, because HUD payments exceed market rent, while 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 305 |
Total Units Section 8 | 303 |
% Rentals under Section 8 | 3.9% |
% Occupied Section 8 | 75.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $390 | $2,000 | $2,390 |
| 2 Bedroom | $190 | $2,500 | $2,690 |
| 3 Bedroom | -$240 | $3,600 | $3,360 |
| 4 Bedroom | $70 | $3,900 | $3,970 |
Affordability — Fairfax, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.3 |
| Median Home Price | $754,000 |
| Median Household Income | $130,000 |