Alexandria, VA Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Alexandria, VA Housing Market Trends

With a population of 159,428, 70,598 total housing units (homes and apartments), and a median house value of $642,978, Alexandria house prices are not only among the most expensive in Virginia, Alexandria real estate also is some of the most expensive in all of America.

Large apartment complexes or high rise apartments are the single most common housing type in Alexandria, accounting for 60.92% of the city's housing units. Other types of housing that are prevalent in Alexandria include row houses and other attached homes ( 21.14%), single-family detached homes ( 13.69%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.19%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

People in Alexandria primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Alexandria has a mixture of owner-occupied and renter-occupied housing.

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. Alexandria's housing was primarily built during this period, from the '40s through the '60s. A full 37.92% of the city's housing hails from this era. Other housing ages represented in Alexandria include homes built between 1970-1999 ( 37.27%) and housing constructed between 2000 and later ( 16.36%). There's also some housing in Alexandria built before 1939 ( 8.45%).

Alexandria Home Appreciation Rates

Appreciation rates for homes in Alexandria have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 47.40%, which ranks in the top 50% nationwide. This equates to an annual average Alexandria house appreciation rate of 3.96%.

Over the last year, Alexandria appreciation rates have trailed the rest of the nation. In the last twelve months, Alexandria's appreciation rate has been 7.84%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Alexandria were at 2.61%, which equates to an annual appreciation rate of 10.85%.

Relative to Virginia, our data show that Alexandria's latest annual appreciation rate is lower than 70% 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 city. Individual neighborhoods within Alexandria differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Alexandria - 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 2000, to assist you in making the best Alexandria real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$642,978

Alexandria, VA HOME PRICES

> $1,193,000
9.2%
9.2%
$895,001 - $1,193,000
12.9%
12.9%
$597,001 - $895,000
28.0%
28.0%
$477,001 - $597,000
8.9%
8.9%
$358,001 - $477,000
13.0%
13.0%
$239,001 - $358,000
17.7%
17.7%
$119,001 - $239,000
9.0%
9.0%
$60,001 - $119,000
0.6%
0.6%
$0 - $60,000
0.9%
0.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for VA

Value Relative To Nation

Number Of Homes And Apartments:
70,598

Alexandria Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
VA*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
178.40% 4.88%
10
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,369 / per month

Homeownership Rate

Owners
42.9%
42.9%
Renters
57.1%
57.1%
Vacant
7.5%
7.5%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
16.4%
16.4%
1970 - 1999
37.3%
37.3%
1940 - 1969
37.9%
37.9%
1939 or Older
8.4%
8.4%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
13.7%
13.7%
Townhomes
21.1%
21.1%
Small Apt. Buildings
4.2%
4.2%
Apt. Complexes
60.9%
60.9%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
6.4%
6.4%
1 Bedroom
27.9%
27.9%
2 Bedrooms
35.7%
35.7%
3 Bedrooms
20.4%
20.4%
4 Bedrooms
7.2%
7.2%
5 or more bedrooms
2.4%
2.4%
0.0% 100.0%
% OF HOMES