Fairfax, 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 Fairfax, Virginia rental market.
Highlights
An apartment for rent in Fairfax, Virginia typically goes for $2,373 per month, while a single-family home for rent in Fairfax, Virginia has a monthly cost of around $3,504. Renter-occupied units make up 32% of the local housing market, while the rental vacancy rate in Fairfax, Virginia is at 2.
Fairfax, Virginia
Average Apartment Rent
$2,373
Y-o-Y Change in Average
Apartment Rent
5.4%
Average Single-Family Rent
$3,504
As of November 2024
Compared to a year ago, Fairfax, Virginia apartments have recorded a 5.4% rent increase.
Fairfax, Virginia Average apartment rent trend
Fairfax, Virginia Average Apartment Rent
Fairfax, Virginia Apartment rent ranges
At 80.22%, apartments priced Over $2,000 represent the bulk of Fairfax, Virginia rentals, while condos priced $1,000 - $1,500 hold the lowest share of the market – 0.08%.
Fairfax, Virginia Housing tenure**
Renters take up 32% of Fairfax, Virginia real estate, occupying a total of 2,898 units, while homeowners live in 6,231 properties.
Median number of rooms of renter-occupied housing units**
4.4
Renter median household income**
$68,235
Average household size of renter-occupied housing units**
2.4
Rental vacancy rate**
2%
Fairfax, Virginia Renter-occupied housing units by no. of bedrooms**
There are 1,197 rentals in Fairfax, Virginia with 2 beds making up the highest share of the market, at 41%. Units with 5 or more beds, on the other hand, hold the lowest percentage (2%), amounting to 53 units. Overall, the median number of rooms in Fairfax, Virginia homes for rent is 4.4.
Fairfax, Virginia Renter-occupied units by age of householder**
Most condos for rent in Fairfax, Virginia are occupied by residents in the 25 - 34 years age group (28%), followed by those in the 15 - 24 years age group (21%). At the same time, people in the 75 - 84 years age group make up the lowest share of the local rental market – 2%.
Fairfax, Virginia Renter-occupied housing units by family type**
Fairfax, Virginia Renter-occupied housing units by the presence of own children**
A total of 1,257 apartments for rent in Fairfax, Virginia, or 43% of all rentals are family households. Additionally, 26% of rental homes include children under the age of 18 – that’s 759 units. All in all, the median size of a renter-occupied household in Fairfax, Virginia is 2.4.
Fairfax, Virginia Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 47% of the rental market. In contrast, residents with less than a high school degree reside in 16% of the homes for rent in Fairfax, Virginia.
Fairfax, Virginia Renter-occupied units by year structure built**
The highest share of Fairfax, Virginia apartment rentals, namely 29% or 826 units, were Built 1960 - 1969, followed by those Built 1980 - 1989 (16%, 456 units), and the ones Built 1950 - 1959 (16%, 452 units).
Fairfax, Virginia Renter-occupied units by year householder moved in**
Median year renter moved into unit 2019
Most Fairfax, Virginia renters (37%) moved in 2010 to 2017, while only 3% of them moved in 2000 to 2009. Overall, the median year renters have occupied their Fairfax, Virginia condos for rent is 2019.
Fairfax, Virginia Renter-occupied housing units by vehicles available**
When it comes to transportation options, 41% of Fairfax, Virginia renters have 1 vehicle available per household, 25% of them have 2 vehicles available, and 15% have No vehicle available.
Fairfax, Virginia Means of transportation to work of householders living in renter-occupied housing units**
Fairfax, Virginia Geographical mobility in the past year for householders living in renter-occupied housing units**
Fairfax, Virginia Average apartment rent by zip codes
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 Fairfax, 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
