Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 12,420, 4,158 total housing units (homes and apartments), and a median house value of $885,555, Fairfax Station house prices are not only among the most expensive in Virginia, Fairfax Station real estate also is some of the most expensive in all of America.
Fairfax Station is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Fairfax Station than is found in 98% of the communities in America.
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Fairfax Station. Owner-occupied housing accounts for 94.46% of Fairfax Station's homes, and 80.64% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Fairfax Station built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Fairfax Station built between 2000 and later ( 5.57%). A lesser amount of the housing stock also hails from between 1940-1969 ( 3.72%).
Some of the lowest real estate appreciation rates in America over the last ten years have been in Fairfax Station, where house values have increased just 45.78%, which is annualized rate of 3.84%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Over the last year, Fairfax Station appreciation rates have trailed the rest of the nation. In the last twelve months, Fairfax Station's appreciation rate has been 5.18%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Fairfax Station were at 3.11%, which equates to an annual appreciation rate of 13.04%.
Importantly, this makes Fairfax Station one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Virginia, our data show that Fairfax Station's latest annual appreciation rate is lower than 60% of the other cities and towns in Virginia.
One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Fairfax Station differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Fairfax Station - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Fairfax Station real estate investment or home purchase decisions.
$885,555
$3,597 / per month