Fairfax, VA

Population: 23,973
Average annual home appreciation rate: 2.05%
Total of homes for sale in this market: 531
Median home price: $504,092
Median Rent: $1,846 per room
Home price range: 28.27% homes are between $552,001 – $828,000
Median sales price: $500,000
Number of homes: 102
Median foreclosure sales price: $420,000
Foreclosure discount: 16%
Most common home type: 56.48% of homes are SINGLE FAMILY DETACHED
Number of vacant homes: 2.55%
Number of renters: 33.06%
Number of owner occupied: 66.94%
Number people living below poverty level: 7.21%
Unemployment rate: 3.90%
Is this area perfect for real estate deals going on right now? With the history of positive appreciation in the Fairfax area, a rental property (based on the much higher than average rental rates) could be a profitable investment for the savvy buy and hold investor.

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