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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.



Great Falls, 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

Great Falls, VA Housing Market Trends

With 15,953 people, 5,019 houses or apartments, and a median cost of homes of $1,505,974, Great Falls house prices are not only among the most expensive in Virginia, Great Falls real estate also is some of the most expensive in all of America.

Great Falls is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Great Falls than is found in 98% of the communities in America.

The large homes that make up Great Falls are primarily owner-occupied ( 94.80%).

There is a lot of housing in Great Falls built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Great Falls built between 2000 and later ( 14.64%). A lesser amount of the housing stock also hails from between 1940-1969 ( 9.76%). There's also some housing in Great Falls built before 1939 ( 2.50%).

Great Falls Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Great Falls, where house values have increased just 31.72%, which is annualized rate of 2.79%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

Over the last year, Great Falls appreciation rates have trailed the rest of the nation. In the last twelve months, Great Falls'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 Great Falls were at 0.00%, which equates to an annual appreciation rate of 0.00%.

Relative to Virginia, our data show that Great Falls's latest annual appreciation rate is lower than 80% of the other cities and towns in Virginia.

Average Home Values

Median Home Value

$1,505,974

Great Falls, VA Home Prices
> $1,189,000
$892,001 - $1,189,000
$594,001 - $892,000
$476,001 - $594,000
$357,001 - $476,000
$238,001 - $357,000
$119,001 - $238,000
$60,001 - $119,000
$0 - $60,000
73.2%
73.2%
21.9%
21.9%
2.0%
2.0%
0.0%
0.0%
0.3%
0.3%
0.3%
0.3%
0.4%
0.4%
0.4%
0.4%
1.4%
1.4%
0% 100.0%
% of Homes
Very High

for Virginia

Very High

for nation

Number of Homes And Apartments:

5,019

Great Falls Appreciation Rates

Rent & Ownership

Average Market Rent:

$3,861 / per month

Homeownership Rate

Owners
Renters
94.8%
94.8%
5.2%
5.2%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
2.8%
2.8%
97.2%
97.2%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
14.6%
14.6%
73.1%
73.1%
9.8%
9.8%
2.5%
2.5%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
99.2%
99.2%
0.4%
0.4%
0.0%
0.0%
0.0%
0.0%
0.4%
0.4%
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
0.3%
0.3%
0.0%
0.0%
1.0%
1.0%
14.6%
14.6%
39.3%
39.3%
44.8%
44.8%
0% 100.0%
% of Homes