Fairfax, VA—22032
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 $826,000, 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 -0.4%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $826,000 | 1.2% |
| Single Family | $827,000 | 1.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $617,000 | 0.8% |
4 Bed | $850,000 | 0.8% |
| 5 Bed | $936,000 | 0.2% |
% of Housing Stock
Rental Trends — Fairfax, VA
As of July '25, Rentcast reports the average rent in Fairfax, VA is $3,230, with a year-over-year rent change of 2.2%. Per bedroom, the median rent as of July '25 in Fairfax, VA is 1-bedrooms: $1,260, 2-bedrooms: $2,400, 3-bedrooms: $3,160, 4-bedrooms: $4,050. The most common rental property sizes in Fairfax, VA are 4-bedroom and 3-bedroom, accounting for 34.3% and 30.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,550 | $3,230 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,200 | $1,260 |
| 2 Bed Rent | $2,400 | $2,400 |
| 3 Bed Rent | $3,100 | $3,160 |
| 4 Bed Rent | $4,000 | $4,050 |
% 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 27. This is a increase of 27.0% 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 33.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $843,000 | 1.0% |
Listing Count | 79 | 45.0% |
| Listings as % of Homes | 0.4% | 45.0% |
Days on Market | 27 | 27.0% |
Demographics — Fairfax, VA
As of the latest ACS Survey released in 2023, Fairfax, VA has a population of 29,200, which has decreased by -6.4% over the past 5 years. Fairfax, VA is a moderately popular place for families, as children make up 22.8% of the population. The area has a highly educated workforce, with 68.3% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 26.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 29,200 | -6.4% |
% Under 18 | 22.8% | 1.3% |
% Seniors | 17.9% | 15.5% |
% WFH | 26.2% | 385.2% |
% w/ College Degree | 68.3% | 3.5% |
As of the latest ACS Survey released in 2023, Fairfax, VA is a predominantly white area, with 61.2% of the population identifying as white. The white population has shrunk by 3.0% in the last 5 years. The second most common race or ethnicity in Fairfax, VA is asian, making up 19.4% of the population. Foreign-born residents account for 22.4% of the population in Fairfax, VA, and this percentage has increased by 1.8% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 61.2% | -3.0% |
% Black | 4.1% | -6.8% |
% Hispanic | 11.0% | 5.8% |
% Asian | 19.4% | 4.3% |
% Foreign Born | 22.4% | 1.8% |
Mortgage and Risk — Fairfax, VA
According to HUD data as of 2023, there were 414 mortgage originations in Fairfax, VA, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 56.0%, with 15.0% above 90% LTV (elevated). This implies medium mortgage risk in Fairfax, VA. Investor activity is low, as 2.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 414 |
% Conventional Loans | 87.0% |
% Government Loans | 13.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Fairfax, VA
As of 2024, the percent of homes in Fairfax, VA under the Section 8 program is 2.5%. 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. In Fairfax, VA, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 39 |
Total Units Section 8 | 39 |
% Rentals under Section 8 | 2.5% |
% Occupied Section 8 | 95.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $1,230 | $1,200 | $2,430 |
| 2 Bedroom | $330 | $2,400 | $2,730 |
| 3 Bedroom | $310 | $3,100 | $3,410 |
| 4 Bedroom | $30 | $4,000 | $4,030 |
Affordability — Fairfax, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.2 |
| Median Home Price | $826,000 |
| Median Household Income | $176,000 |