Fredericksburg is a medium-sized city located in the state of Virginia. With a population of 28,757 people and 44 associated neighborhoods, Fredericksburg is the 37th largest community in Virginia. Much of the housing stock in Fredericksburg was built relatively recently. The construction of new real estate can often be taken as an indication that the local Fredericksburg economy is robust, and that jobs or other amenities are attracting an influx of new residents. This seems to be the case in Fredericksburg, where the median household income is $83,445.00.

Fredericksburg home prices are not only among the most expensive in Virginia, but Fredericksburg real estate also consistently ranks among the most expensive in America.

Also of interest is that Fredericksburg has more people living here who work in computers and math than 95% of the places in the US.

One interesting thing about the economy is that relatively large numbers of people worked from their home: 11.95% of the workforce. While this number may seem small overall, as a fraction of the total workforce this is high compared to the rest of the county. These workers are often telecommuters who work in knowledge-based, white-collar professions. For example, Silicon Valley has large numbers of people who telecommute. Other at-home workers may be self-employed people who operate small businesses out of their homes.

In addition, Fredericksburg is a college town. There are a lot of students in Fredericksburg attending college, and as a result Fredericksburg provides a number of services, amenities and opportunities geared to the needs and activities of students.

Fredericksburg, while not large, also appears to be attractive to some younger, educated professionals, who help shape the character of the city.

The education level of Fredericksburg ranks among the highest in the nation. Of the 25-and-older adult population in Fredericksburg, 43.48% have at least a bachelor's degree. The typical US community has just 21.84% of its adults holding a bachelor's degree or graduate degree.

The per capita income in Fredericksburg in 2022 was $43,063, which is upper middle income relative to Virginia and the nation. This equates to an annual income of $172,252 for a family of four. However, Fredericksburg contains both very wealthy and poor people as well.

Fredericksburg is an extremely ethnically-diverse city. The people who call Fredericksburg home describe themselves as belonging to a variety of racial and ethnic groups. The greatest number of Fredericksburg residents report their race to be White, followed by Black or African-American. Fredericksburg also has a sizeable Hispanic population (people of Hispanic origin can be of any race). People of Hispanic or Latino origin account for 11.71% of the city’s residents. Important ancestries of people in Fredericksburg include English, German, Irish, Italian, and European.

The most common language spoken in Fredericksburg is English. Other important languages spoken here include Spanish and African languages.