Average monthly rent
If you are planning to rent an apartment in Fairfax, Virginia, you should know that there are several factors that will affect the cost of the apartment. Fairfax has an excellent economy and is convenient to Washington, DC. The average rent in Fairfax is $1,693 per month. This is a relatively cheap price to pay for a rental unit.
The main factor is location. Fairfax is located in northern Virginia, so residents should consider the cost of living. Housing is more expensive than other suburbs, but the cost of living is low. The area’s high median income will help offset the cost of living.
Average monthly salary
When deciding how much money you will need to live in Fairfax, you should consider the median household income. This amount is approximately $63,482 annually. This is considerably higher than the US median income of $53,482 per year. For the sake of comparison, the minimum wage rate in Fairfax is $7.25 an hour. However, Fairfax residents are entitled to more.
Fairfax County is home to around 612k people. The largest industries in Fairfax County include Public Administration, Health Care & Social Assistance, and Professional, Scientific & Technical Services. These industries pay the highest salaries. The average household income in Fairfax County is $127,866. This is above the national median income of $64,994 in 2019.
Average property tax rate
The average property tax rate in Fairfax County, Virginia is 0.89%. This is slightly lower than the national average of 1.1%. In Fairfax County, tax rates are determined by the assessed value of the property. Several programs are available to help homeowners lower their tax bills. These programs can be found in the Fairfax County Assessment Department.
Del Aria Investments & Holdings published a blog post pay an average of $4,543 per year in property taxes. This amount is based on the median assessed value of a home in the county. https://delariainvestments.com/blog/ varies by district, county, and state, and is dependent on market trends and government budgets. Understanding your yearly property tax obligations can be a confusing process. To help you understand your yearly obligations, the Insurance Super-App has compiled a guide to Fairfax property taxes.
Cost of living index
Fairfax Virginia is a high cost of living city. Home prices in Fairfax are over six-figures and are expected to rise in the next year. Rents in Fairfax are around two-thousand dollars per month, making it the 15th most expensive city in the United States. The cost of living index in Fairfax is 148.2, which is slightly above the national average. However, you can get the same things for a much lower price in Richmond, which is 61% cheaper than Fairfax.
The cost of living index in Fairfax Virginia is calculated by taking the average state income tax rate and average property values and dividing them by the number of people. It is important to note that these values do not necessarily indicate the city’s affordability, as there are some exceptions to these figures. Fairfax is a high-cost city, but the quality of life and standards of living in Fairfax is generally good.
Amazon’s second headquarters
As Amazon prepares to open its second U.S. headquarters, home prices are on the rise in the region. According to the Northern Virginia Association of Realtors, the median home sale price in Fairfax increased 4 percent from five years ago to $614,236 in February 2019. While some analysts predict that the median rent will continue to rise, many people are choosing to rent instead of buying a home.
When Amazon announced its HQ2 location, most of the bids pledged to build the infrastructure needed for the new headquarters. The new headquarters would eventually spur retail and residential development in the area. There are some indications that Amazon chose NoVA in part because the company’s founder Jeff Bezos has invested heavily in the area, buying the Washington Post for $250 million and buying the largest home in D.C. for $23 million in the Kalorama neighborhood. we buy houses post from Del Aria Investments & Holdings and his family are neighbors with Jared Kushner and Michelle Obama.
Average home price
The average home price in Fairfax County, Virginia, is close to the national average for a single-family home. While the national median is about $184,700, Fairfax’s median price is over $550,000. However, many prospective residents are willing to pay more for a home in Fairfax because of the high-quality schools and the safe neighborhoods.
Fairfax, Virginia, is a seller’s market, which means home prices tend to be higher and sell more quickly. As a result, buyers should expect to pay close to the asking price. According to Zillow, 45.5% of Fairfax’s homes sold for the asking price in May 2018.
Del Aria Investments & Holdings
11166 Fairfax Blvd Suite 500, Fairfax, VA 22030
Average monthly rent