Fair Lakes, Virginia Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Fair Lakes, Virginia rental market.
Fair Lakes, Virginia
Average Apartment Rent
$2,356
Y-o-Y Change in Average
Apartment Rent
-1.8%
As of May 2026
Compared to a year ago, Fair Lakes, Virginia apartments have recorded a -1.8% rent decrease.
Fair Lakes, Virginia Average apartment rent trend
Fair Lakes, Virginia Average Apartment Rent
Fair Lakes, Virginia Apartment rent ranges
At 47.73%, apartments priced $2,000 - $2,500 represent the bulk of Fair Lakes, Virginia rentals, while condos priced Over $3,000 hold the lowest share of the market – 6.92%.
Fair Lakes, Virginia Housing tenure**
Renters take up 41% of Fair Lakes, Virginia real estate, occupying a total of 1,469 units, while homeowners live in 2,152 properties.
Median number of rooms of renter-occupied housing units**
3.8
Renter median household income**
$103,854
Average household size of renter-occupied housing units**
2.06
Rental vacancy rate**
0.4%
Fair Lakes, Virginia Renter-occupied housing units by no. of bedrooms**
There are 588 rentals in Fair Lakes, Virginia with 2 beds making up the highest share of the market, at 40%. Units with 5 or more beds, on the other hand, hold the lowest percentage (2%), amounting to 28 units. Overall, the median number of rooms in Fair Lakes, Virginia homes for rent is 3.8.
Fair Lakes, Virginia Renter-occupied units by age of householder**
Most condos for rent in Fair Lakes, Virginia are occupied by residents in the 25 - 34 years age group (38%), followed by those in the 35 - 44 years age group (23%). At the same time, people in the 75 - 84 years age group make up the lowest share of the local rental market – 1%.
Fair Lakes, Virginia Renter-occupied housing units by family type**
Fair Lakes, Virginia Renter-occupied housing units by the presence of own children**
A total of 854 apartments for rent in Fair Lakes, Virginia, or 58% of all rentals are family households. Additionally, 22% of rental homes include children under the age of 18 – that’s 317 units. All in all, the median size of a renter-occupied household in Fair Lakes, Virginia is 2.06.
Fair Lakes, Virginia Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 68% of the rental market. In contrast, residents with less than a high school degree reside in 0% of the homes for rent in Fair Lakes, Virginia.
Fair Lakes, Virginia Renter-occupied units by year structure built**
The highest share of Fair Lakes, Virginia apartment rentals, namely 36% or 525 units, were Built 1990 - 1999, followed by those Built 1980 - 1989 (28%, 411 units), and the ones Built 2000 - 2009 (23%, 342 units).
Fair Lakes, Virginia Renter-occupied units by year householder moved in**
Median year renter moved into unit 2018
Most Fair Lakes, Virginia renters (44%) moved in 2018 to 2020, while only 2% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Fair Lakes, Virginia condos for rent is 2018.
Fair Lakes, Virginia Renter-occupied housing units by vehicles available**
When it comes to transportation options, 54% of Fair Lakes, Virginia renters have 1 vehicle available per household, 30% of them have 2 vehicles available, and 13% have 3 vehicles available.
Fair Lakes, Virginia Means of transportation to work of householders living in renter-occupied housing units**
Fair Lakes, Virginia Geographical mobility in the past year for householders living in renter-occupied housing units**
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Fair Lakes, Virginia apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
