Mclean appreciation rates and housing market information

Mclean housing market information

With a population of 39,003, 14,788 total housing units (homes and apartments), and a median house value of $917,759, Mclean house prices are not only among the most expensive in Virginia, Mclean real estate also is some of the most expensive in all of America.

single-family detached homes are the single most common housing type in Mclean, accounting for 82.27% of the town's housing units. Other types of housing that are prevalent in Mclean include row houses and other attached homes (11.19%), and a few large apartment complexes or high rise apartments (6.23%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Mclean. Owner-occupied housing accounts for 83.13% of Mclean's homes, and 65.70% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Mclean's housing was primarily built during this period, from the '40s through the '60s. A full 53.51% of the town's housing hails from this era. Other housing ages represented in Mclean include homes built between 1970-1994 (40.16%), and housing constructed from 1995 and later (3.80%). There's also some housing in Mclean built between 1939 and earlier (2.53%).

Mclean home appreciation rates

In the last 10 years, Mclean has experienced some of the highest home appreciation rates of any community in the nation. Mclean real estate appreciated 113.77% over the last ten years, which is an average annual home appreciation rate of 11.37%, putting Mclean in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Mclean definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Mclean appreciation rates have trailed the rest of the nation. In the last twelve months, Mclean's appreciation rate has been -10.35%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Mclean were at -0.56%, which equates to an annual appreciation rate of -2.24%.

Notably, Mclean's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Virginia, our data show that Mclean's latest annual appreciation rate is higher than 10% of the other cities and towns in Virginia.

One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Mclean differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Mclean - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Mclean real estate investment or home purchase decisions.