Fairfax County Real Estate and Livability Trends
Fairfax County, Virginia has seen median home values soar from $501,200 in 2015 to $666,900 in 2022, suggesting strong property appreciation that could attract both investors and homebuyers. The rise in average taxable income per tax return from $108,523.41 in 2013 to around $159,538.35 by 2021 might indicate a growing affluent population. Despite nearly doubling of average state and local income... Read more
Fairfax County Market Trends
Fairfax County, Virginia’s real estate market has markedly outpaced both state and national trends with median home values rocketing from $501,200 in 2015 to $666,900 in 2022. This suggests strong property value appreciation, potentially enticing investors and homebuyers alike. Interestingly, residents have heavily invested in energy-efficient solutions, evident from a peak in residential... Read more
Median Value of Occupied Housing Units in Fairfax County, Virginia Over the Last 8 Years
Fairfax County, Virginia, appears to have experienced a significant surge in median home values over the past eight years, climbing from $501,200 in 2015 to $666,900 in 2022. This trend in Fairfax County is more dramatic compared to Virginia's overall growth from $245,000 to $339,800 and the national increase from $125,500 to $179,400 during the same period. Such a consistent rise can potentially make Fairfax County an attractive spot for investors looking for strong property value appreciation or families aiming to build long-term home equity. However, it may also imply increased competition and higher housing costs for prospective buyers.
Residential Energy Tax Credit Per Tax Return in Fairfax County, VA Over the Last 9 Years
Fairfax County, Virginia has seen notable fluctuations in the average residential energy tax credit per tax return over the past nine years. Particularly, there's a major spike in 2018 reaching $3360.49, which is an exceptional outlier compared to subsequent years that hovered around $1000. Higher average credits may suggest residents are heavily investing in energy-efficient solutions, an appealing factor for potential investors and property developers focusing on sustainability. This variability also signals important considerations for appraisers and insurance agents assessing property values and associated risks.
Average Real Estate Taxes Per Tax Return in Fairfax County, VA Over the Last 10 Years
Fairfax County, Virginia has seen a notable increase in average real estate taxes per tax return over the past decade. In 2012, the tax amount per return was around $5,707.72 and has steadily risen to approximately $8,900.28 by 2021. This steady upward trend is an important indicator for potential investors, homeowners, and real estate professionals, suggesting a rise in property values and potentially increasing costs of living. This could also imply a higher demand for quality homes and services in the area, making it a critical point of analysis for appraisers and insurers.
Percentage of Farm Returns in Fairfax County, VA Over the Last 10 Years
The percentage of farm tax returns in Fairfax County, Virginia, has experienced a noticeable decline over the last decade, dropping from approximately 0.152% in 2012 to around 0.101% in 2021. Farm tax returns reflect the proportion of income tax filings associated with agricultural activities, providing insight into the economic vitality and presence of farming in the region. This gradual decrease may suggest shifting economic priorities or land use changes, a trend that could be relevant for potential investors, property developers, or residents considering the future landscape of Fairfax County. Those interested in the local economy might infer that agriculture is becoming a less prominent economic driver in this suburban region.
Number of Mortgages by Occupancy Type in Fairfax County, VA Over the Last 5 Years in Fairfax County
In Fairfax County, Virginia, over the past five years, the number of mortgages for principal residences significantly outnumbers those for investment or second residences, peaking in 2020 with 125,724 mortgages but dropping to 47,001 by 2022. Investment properties saw a dramatic rise from 2,897 mortgages in 2018 to 7,464 in 2021 before declining to 2,405 in 2022. Second residences have consistently low numbers, fluctuating between 454 and 1,098 mortgages. Shifts in occupancy types can indicate emerging market trends; for instance, a higher share of mortgages on investment properties might suggest a lucrative market for rental income or flipping opportunities. Conversely, trends favoring principal residences could imply a stable long-term community environment, appealing to families and those seeking permanent homes. These insights can guide appraisals, insurance assessments, and investment strategies.
Economic Outlook
Over the past nine years, Fairfax County, Virginia has experienced a noteworthy rise in average taxable income per tax return, climbing from $108,523.41 in 2013 to about $159,538.35 by 2021. This steady increase might signal a growing affluent population that could attract investors and real estate developers to the area. Concurrently, average state and local income taxes per tax return have nearly doubled from $9,850.43 in 2012 to $19,038.55 in 2021, suggesting higher tax obligations that... Read more
Average Taxable Income per Tax Return in Fairfax County, VA over the last 9 years
Over the past nine years, Fairfax County, Virginia has experienced a significant upward trend in average taxable income per tax return, climbing from approximately $108,523.41 in 2013 to about $159,538.35 by 2021. This steady increase could be an indicator of a growing, affluent population, which might appeal to investors, real estate developers, and professionals aiming to tap into a prosperous market. This shift may reflect the county's economic health and could have implications for property values, insurance rates, and general market stability.
Average State and Local Income Taxes Per Tax Return in Fairfax County, VA Over the Last 10 Years
Fairfax County, Virginia has seen a notable upward trend in average state and local income taxes per tax return over the past decade, rising from $9,850.43 in 2012 to $19,038.55 in 2021. This increase could have implications for prospective investors, real estate agents, and new residents, indicating potentially higher tax commitments which might affect overall budgeting and financial planning. The sharpest jumps, notably in 2018 and 2021, suggest periods of significant fiscal policy changes or economic shifts specific to this affluent region, which may be worth investigating further for those deeply analyzing local tax impacts.
Average Total Tax Liability Per Tax Return in Fairfax County, VA Over the Last 10 Years
Average total tax liability per tax return has shown an upward trend in Fairfax County, Virginia over the past decade. Starting from around $22,169.16 in 2012, it climbed steadily to approximately $34,381.34 in 2021. This may suggest higher earnings and possibly increased property value in the area, making Fairfax County an interesting case for investors, real estate professionals, and current residents to monitor for economic growth and development opportunities.
Cost of Living in Fairfax County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $2,543 | $1,854 | $1,492 | $3,558 | $2,886 |
| 1 adult 4 children | $2,543 | $1,514 | $1,137 | $3,558 | $2,928 |
| 2 adults 3 children | $2,543 | $1,515 | $1,296 | $3,558 | $2,640 |
| 1 adult 3 children | $2,543 | $1,236 | $941 | $3,558 | $2,728 |
| 2 adults 2 children | $2,033 | $1,240 | $1,100 | $3,100 | $2,122 |
| 1 adult 2 children | $2,033 | $926 | $746 | $3,100 | $2,239 |
| 2 adults 1 child | $2,033 | $980 | $904 | $1,614 | $1,527 |
| 1 adult 1 child | $2,033 | $633 | $550 | $1,614 | $1,582 |
| 2 adults | $1,786 | $787 | $709 | $0 | $1,034 |
| 1 adult | $1,758 | $429 | $354 | $0 | $1,020 |
Safety trends & Data
Fairfax County, Virginia's property crime trends over the past five years show notable fluctuations. Larceny-theft incidents spiked to 3,858 in 2018, dipped to 2,114 by 2021, and then jumped to 3,306 in 2022. Burglaries peaked in 2022 with 169 cases, while vehicle thefts have steadily risen to 176 that same year. Embezzlement cases have been declining, hitting a low of 63 in 2022. Although vandalism has remained relatively stable, fraud cases dropped from 597 in 2018 to 214 in 2021, before... Read more
Property Crime Trends in Fairfax County, VA Over the Last 5 Years
Fairfax County, Virginia has seen fluctuations in property crimes over the last five years. Larceny-theft cases surged to 3,858 in 2018, dipped to 2,114 by 2021, and saw a jump back to 3,306 in 2022. Burglaries and motor vehicle thefts have shown mixed trends, with burglaries peaking at 169 in 2022 and vehicle thefts increasing each year to reach 176 in 2022. Embezzlement cases, however, have steadily decreased from 123 in 2018 to 63 in 2022. Vandalism has hovered around 240-290 cases yearly, while fraud cases saw a notable reduction from 597 in 2018 to 214 in 2021, before slightly rising to 261 in 2022. These crime trends may reflect various socio-economic factors and can aid investors, real estate agents, and potential residents in making informed decisions about the area.
Demographics
Fairfax County, Virginia, presents a nearly balanced gender distribution among its adults, with slight female predominance. The region showcases significant educational achievement, with around half of its population holding a bachelor’s or higher degree. Age-wise, Fairfax County's population is primarily concentrated in the 25-54 years range, suggesting a robust working-age demographic. In terms of racial composition, the county is predominantly White, with notable representation from Asian... Read more
Race Distribution in Fairfax County, Virginia (2022)
Educational Attainment in Fairfax County, Virginia (2022)
Age Distribution in Fairfax County, Virginia
Citizen Population in Fairfax County, Virginia (2022)
Political Trends & Data
Fairfax County, Virginia, leans heavily Democratic, with nearly 70% of votes in the 2020 U.S. Presidential Election potentially going to the Democratic candidate. Republican vote share might be around 28%, and minor parties like the Libertarians capturing just over 1%. This substantial Democratic preference could highlight significant political stability in this suburban area, mirroring broader national trends in similar... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Fairfax County in Virginia appears to lean heavily Democratic, with nearly 70% of votes potentially going to the Democratic candidate in the 2020 U.S. Presidential Election. The Republican vote share may hover around 28%, with minor parties like the Libertarians capturing just over 1%. This trend might suggest a significant Democratic stronghold in a predominantly suburban area, likely reflecting broader shifts seen in similar regions nationally.
28.01% of voters voted for the Republican party in the 2020 Presidential Election
69.85% of voters voted for the Democrat party in the 2020 Presidential Election
1.33% of voters voted for the Livertarian party in the 2020 Presidential Election
0.81% of voters voted for the Other party in the 2020 Presidential Election
School Data
The student-to-teacher ratio in Fairfax County, Virginia, has fluctuated over the past decade, peaking at 15 students per teacher in 2017 and dropping to 13 in 2021. Currently, the ratio is 14, a bit above the national average. This trend might indicate that class sizes are becoming more manageable, which could appeal to families and investors considering the area, potentially leading to improved educational outcomes and higher property... Read more
Student-to-teacher ratio in Fairfax County, Virginia over the last 10 years
Over the past decade, the student-to-teacher ratio in Fairfax County, Virginia has seen some fluctuations, peaking at 15 students per teacher in 2017 before dropping to a low of 13 students per teacher in 2021. Currently, the ratio stands at 14, slightly above the national average. This information may suggest that class sizes in Fairfax County are becoming more manageable, which could appeal to investors and families considering relocation, as well as real estate agents focusing on the area. Lower student-to-teacher ratios can be a sign of increasing investments in education, potentially leading to better educational outcomes and higher property values.
