Fairfax city Real Estate and Livability Trends
Fairfax City, Virginia's real estate trends reveal a robust market with median home values jumping from $470,300 in 2015 to $649,600 in 2022, significantly outpacing state and national averages. Alongside this, average total tax liabilities and real estate taxes have risen, suggesting property appreciation and enhanced municipal services, although also indicating a higher tax burden. Notably, the... Read more
Fairfax city Market Trends
Housing market trends in Fairfax City, Virginia hint at a notably robust appreciation, with median home values spiking from $470,300 in 2015 to $649,600 in 2022, outpacing both state and national averages. The fluctuating residential energy tax credits, marked by peaks in 2018 ($2,700.00) and 2019 ($1,823.53), suggest varying homeowner investments in renewable systems and energy efficiency... Read more
Median Value of Occupied Housing Units in Fairfax city, Virginia Over the Last 8 Years
Housing market trends in Fairfax city, Virginia have shown a significant rise over the past eight years, with median home values increasing from $470,300 in 2015 to $649,600 in 2022. This contrasts sharply with the broader state trend where Virginia's median home values went from $245,000 to $339,800 during the same period. Nationally, the increase is even less stark, rising from $125,500 in 2015 to $179,400 in 2022. For potential investors, homebuilders, or anyone interested in Fairfax city, this local market's growth suggests stronger appreciation and potentially higher returns compared to state and national averages.
Residential Energy Tax Credit Per Tax Return in Fairfax city, VA Over the Last 9 Years
Fairfax, Virginia has experienced fluctuating residential energy tax credits per tax return over the past nine years, with notable spikes in 2018 ($2700.00) and 2019 ($1823.53). Such variability may suggest changes in energy efficiency incentives or homeowner investments in renewable energy systems. Understanding these trends could be particularly useful for investors, real estate agents, and those considering moving to the county, as it might reflect broader economic or policy shifts impacting residential energy efficiency initiatives.
Average Real Estate Taxes Per Tax Return in Fairfax city, VA Over the Last 10 Years
Over the past decade, Fairfax City, Virginia has seen a noticeable uptick in average real estate taxes per tax return, climbing steadily from approximately $4,831.93 in 2012 to around $7,200.38 in 2021. This trend may suggest a growing valuation of properties, potentially making it a lucrative spot for real estate investments. However, prospective homebuyers and those looking to build in the area might want to budget for higher property tax expenses. The consistent increase in taxes could also reflect enhanced municipal services or infrastructural developments—factors that could influence both quality of life and future property values.
Number of Mortgages by Occupancy Type in Fairfax city, VA Over the Last 5 Years in Fairfax city
In Fairfax city, Virginia, the number of mortgages for principal residences has exhibited fluctuation, peaking in 2020 with 2,695 and dropping significantly in 2022 to 1,174. Investment property mortgages rose markedly in 2021, reaching 195 from just 74 in 2019, but then fell to 84 in 2022. Second residence mortgages have remained relatively stable but minimally impactful compared to the other categories. Such shifts in occupancy types matter because they can signal changing market conditions, investment appetites, and shifts in residential demand—crucial insights for anyone looking to invest, develop, or determine property values in the area.
Economic Outlook
Over the last nine years, Fairfax City, Virginia has experienced a significant rise in average taxable income per tax return, moving from $85,175.82 in 2013 to $123,761.56 by 2021. Furthermore, average state and local income taxes have increased from $7,009.21 in 2012 to $12,126.74 in 2021, suggesting a growing local economy or higher personal incomes but also a higher tax burden. Additionally, average total tax liability has climbed from about $15,049.80 in 2012 to approximately $23,618.64 in... Read more
Average Taxable Income per Tax Return in Fairfax city, VA over the last 9 years
Over the last nine years, Fairfax City, Virginia has seen a notable rise in average taxable income per tax return, climbing from $85,175.82 in 2013 to $123,761.56 by 2021. This upward trend underscores a potentially lucrative environment for investors and real estate professionals, as increasing incomes suggest economic growth and stability. Home builders and those interested in property development might find compelling reasons to consider the area, while appraisers and insurance agents could see a correlating rise in property values and premiums.
Average State and Local Income Taxes Per Tax Return in Fairfax city, VA Over the Last 10 Years
Over the past decade, the average state and local income taxes per tax return in Fairfax city, Virginia have shown a notable upward trend, rising from $7,009.21 in 2012 to $12,126.74 in 2021. This substantial increase could suggest a growing local economy or higher personal incomes but also implies a higher tax burden for residents. For those looking to invest in real estate or build property in the area, understanding this tax trend is crucial, as it could impact overall affordability and desirability. Real estate agents and appraisers should consider these figures when advising clients, while insurance agents may also find it relevant for policy assessments and premium calculations.
Average Total Tax Liability Per Tax Return in Fairfax city, VA Over the Last 10 Years
Over the past decade, the average total tax liability per tax return in Fairfax city, Virginia has shown a general upward trend. Starting at approximately $15,049.80 in 2012, there was a notable increase reaching about $23,618.64 in 2021. This escalating pattern likely reflects broader economic growth and rising incomes in the area, which could be significant for property investors, real estate agents, and others closely monitoring economic indicators. Such trends can impact housing market dynamics, property appraisals, and insurance evaluations as the county sees shifts in its economic landscape.
Cost of Living in Fairfax city
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $2,368 | $1,769 | $1,492 | $3,558 | $2,759 |
| 1 adult 4 children | $2,368 | $1,445 | $1,137 | $3,558 | $2,812 |
| 2 adults 3 children | $2,368 | $1,446 | $1,296 | $3,558 | $2,503 |
| 1 adult 3 children | $2,368 | $1,180 | $941 | $3,558 | $2,617 |
| 2 adults 2 children | $1,893 | $1,183 | $1,100 | $3,100 | $2,008 |
| 1 adult 2 children | $1,893 | $884 | $746 | $3,100 | $2,127 |
| 2 adults 1 child | $1,893 | $935 | $904 | $1,614 | $1,425 |
| 1 adult 1 child | $1,893 | $604 | $550 | $1,614 | $1,483 |
| 2 adults | $1,664 | $751 | $709 | $0 | $971 |
| 1 adult | $1,637 | $410 | $354 | $0 | $939 |
Safety trends & Data
If you're considering a move or investment in Fairfax City, Virginia, knowing the property crime landscape can be useful. Larceny-theft is notably prevalent here, with 38 incidents in 2022, while vandalism has fluctuated, peaking at 13 cases in 2021 before dropping to 7 in 2022. Embezzlement has doubled from 3 cases in 2019 to 6 in 2022. Though arson and motor vehicle theft are less common, they're still worth noting. These trends could influence insurance calculations, property valuations, and... Read more
Property Crime Trends in Fairfax city, VA Over the Last 5 Years
If you're eyeing the real estate market or planning an investment in Fairfax City, Virginia, a quick look at property crime trends might be insightful. Larceny-theft remains the most prevalent issue, peaking at 39 incidents in 2018 and sitting at 38 in 2022. Vandalism has seen a bit of fluctuation, hitting a high of 13 cases in 2021 before dropping to 7 in 2022. Embezzlement cases have doubled from 3 in 2019 to 6 in 2022, suggesting a slight uptick. Arson and motor vehicle theft appear less frequent but still notable. These trends might be useful for insurance agents recalculating premiums, real estate advisors gauging property values, or newcomers assessing the area's safety and community integrity.
Demographics
Fairfax city, Virginia's adult population shows a slight female majority. A significant portion of residents hold higher education degrees, with bachelor's and graduate/professional degrees making up a combined substantial share. The age distribution skews towards young to middle adulthood, with notable numbers in the under 10 and 25-44 age groups. Racially, the city is predominantly White, with Asian residents forming the second-largest group, reflecting a diverse yet primarily White... Read more
Race Distribution in Fairfax city, Virginia (2022)
Educational Attainment in Fairfax city, Virginia (2022)
Age Distribution in Fairfax city, Virginia
Citizen Population in Fairfax city, Virginia (2022)
Political Trends & Data
Fairfax City, Virginia, may lean heavily Democratic, reflecting nearly 68% of the vote in the 2020 U.S. Presidential Election, while Republicans possibly managed around 30%. Libertarians and other parties likely had minimal influence, capturing under 1.5% and around 0.8%, respectively. This political trend could impact local real estate dynamics by potentially attracting buyers interested in more progressive... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Fairfax City in Virginia leaned heavily Democratic in the 2020 U.S. Presidential Election, with Democrats possibly securing nearly 68% of the vote. Republicans might have garnered around 30%, suggesting a significant gap. Libertarians and other parties seemed to have relatively minimal impact, with Libertarians potentially capturing just under 1.5% and other parties close to 0.8%. This voting pattern could indicate strong Democratic preferences in the area, although local dynamics should also be considered.
29.71% of voters voted for the Republican party in the 2020 Presidential Election
68.02% of voters voted for the Democrat party in the 2020 Presidential Election
1.49% of voters voted for the Livertarian party in the 2020 Presidential Election
0.78% of voters voted for the Other party in the 2020 Presidential Election
School Data
Over the past decade, Fairfax City, Virginia’s student-to-teacher ratio has fluctuated, peaking at 19 students per teacher in 2017 but mostly staying around the national average of 14. This metric could inform investors and real estate agents since lower ratios often correlate with better academic performance, potentially drawing more families to the area. For insurance agents and appraisers, changes in this ratio might indicate shifting property occupancy types, impacting property values and... Read more
Student-to-teacher ratio in Fairfax City, Virginia over the last 10 years
Over the past decade, the student-to-teacher ratio in Fairfax City, Virginia has seen notable fluctuations, peaking at 19 students per teacher in 2017 but generally hovering around the national average of 14 students per teacher. Investors and real estate agents might be particularly interested in these trends as lower student-to-teacher ratios often correlate with higher academic performance, potentially making the area more attractive to families. Conversely, insurance agents and appraisers may see changes in occupancy type as a factor influencing property values and insurance premiums, where dips and rises in the ratio could signal shifting demand for educational facilities. For those considering building property or moving to Fairfax City, these ratios provide a glimpse into the local educational infrastructure's capacity to handle population growth, essential for making informed decisions.
