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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Falls Church, 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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

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

Falls Church, VA Housing Market Trends

With 14,586 people, 5,740 houses or apartments, and a median cost of homes of $1,052,618, Falls Church house prices are not only among the most expensive in Virginia, Falls Church 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 Falls Church, accounting for 46.66% of the city's housing units. Other types of housing that are prevalent in Falls Church include single-family detached homes ( 38.75%), row houses and other attached homes ( 10.49%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.02%). 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 Falls Church primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Falls Church 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. Falls Church's housing was primarily built during this period, from the '40s through the '60s. A full 43.86% of the city's housing hails from this era. Other housing ages represented in Falls Church include homes built between 2000 and later ( 28.59%) and housing constructed between 1970-1999 ( 22.54%). There's also some housing in Falls Church built before 1939 ( 5.01%).

Falls Church Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Falls Church, where house values have increased just 47.98%, which is annualized rate of 4.00%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

Over the last year, Falls Church appreciation rates have trailed the rest of the nation. In the last twelve months, Falls Church's appreciation rate has been 4.68%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Falls Church were at 0.00%, which equates to an annual appreciation rate of 0.00%.

Relative to Virginia, our data show that Falls Church's latest annual appreciation rate is lower than 80% 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 Falls Church differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Falls Church - 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 Falls Church real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$1,052,618

Falls Church, VA Home Prices
> $1,153,000
$865,001 - $1,153,000
$577,001 - $865,000
$461,001 - $577,000
$346,001 - $461,000
$231,001 - $346,000
$115,001 - $231,000
$58,001 - $115,000
$0 - $58,000
46.4%
46.4%
26.6%
26.6%
16.3%
16.3%
4.3%
4.3%
3.1%
3.1%
1.7%
1.7%
0.9%
0.9%
0.6%
0.6%
0.1%
0.1%
0% 100.0%
% of Homes
Very High

for Virginia

Very High

for nation

Number of Homes And Apartments:

5,740

Falls Church Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,855 / per month

Homeownership Rate

Owners
Renters
55.3%
55.3%
44.7%
44.7%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
6.3%
6.3%
93.7%
93.7%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
28.6%
28.6%
22.5%
22.5%
43.9%
43.9%
5.0%
5.0%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
38.7%
38.7%
10.5%
10.5%
4.0%
4.0%
46.7%
46.7%
0.1%
0.1%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
5.3%
5.3%
22.5%
22.5%
24.3%
24.3%
20.5%
20.5%
16.2%
16.2%
11.2%
11.2%
0% 100.0%
% of Homes