Great Falls, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Great Falls Neighborhoods Since 2000




Great Falls, VA Real Estate Data

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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Great Falls Housing Market Information

With a population of 16,146, 5,014 total housing units (homes and apartments), and a median house value of $1,105,812, 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 ( 94.73%).

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 ( 16.25%). A lesser amount of the housing stock also hails from between 1940-1969 ( 9.61%). There's also some housing in Great Falls built before 1939 ( 1.96%).

Great Falls Home Appreciation Rates

Real estate appreciation rates in Great Falls's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.65% during the period.

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 -2.34%, 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 -0.17%, which equates to an annual appreciation rate of -0.70%.

Relative to Virginia, our data show that Great Falls's latest annual appreciation rate is lower than 90% of the other cities and towns in Virginia.

Average Home Values

 

Median Home Value:
$1,105,812

Great Falls, VA HOME PRICES

Value Range
> $1,035,000 57.5
$776,001 - $1,035,000 27.1
$517,001 - $776,000 11.7
$414,001 - $517,000 0.7
$311,001 - $414,000 0.8
$207,001 - $311,000 0.5
$104,001 - $207,000 1.3
$52,001 - $104,000 0.1
$0 - $52,000 0.2

Very High for VA
Very High for Nation

Value Relative to Nation Value Relative to State
0.849642564162662 0.277008310249308

Number Of Homes And Apartments:
5,014

Great Falls Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
VA*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
82.63% 3.55% 9 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$3,615 / per month

Homeownership Rate

Homeownership
Owners 94.73
Renters 5.27
Vacant 3.78

Housing Market Details

 

Age of Homes

AGE OF Great Falls HOMES
2000 or Newer 16.3
1970 - 1999 72.2
1940 - 1969 9.6
1939 or Older 2.0

Types of Homes

TYPE OF Great Falls HOMES
Single-Family 98.9
Townhomes 1.0
Small Apt. Buildings 0.0
Apt. Complexes 0.1
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Great Falls HOMES
No Bedroom 0.00
1 Bedroom 0.00
2 Bedrooms 0.84
3 Bedrooms 10.09
4 Bedrooms 42.95
5 or more bedrooms 46.11