Fairfax Home Prices: $779K, Down 0.5% — 4 ZIPs Analyzed (2026)

$779K. That’s what a typical home in Fairfax, Virginia costs right now — and prices barely moved over the past year. In a metro where six-figure salaries are common, even a half-percent dip doesn’t make houses feel more affordable.

Quick answer: The average home price in Fairfax, VA is $778,726 as of February 2026, down 0.5% year over year according to Zillow.

Current Home Prices in Fairfax

Fairfax sits inside the Washington-Arlington-Alexandria metro, one of the most expensive housing markets on the East Coast. Here’s where prices stand today.

That -0.5% annual change is essentially flat. Fairfax didn’t crash. It didn’t boom. It sat still while the rest of the market tried to figure out where rates were heading.

The spread between the cheapest and most expensive ZIP codes is about $141,000. That’s a meaningful gap for a city this size — it means your neighborhood choice matters more than the citywide average suggests.

For context, the median home here costs roughly 2.8 times the national median. You’re paying a premium for proximity to federal jobs, defense contractors, and one of the highest-income counties in the country.

Fairfax Home Prices by Neighborhood

All four tracked ZIP codes in Fairfax show prices well above $700,000, but the differences between them are significant.

Most Expensive

22032 leads at $842,767, running about 8% above the city average — the only ZIP to break $840K. 22030 comes in second at $808,318, roughly $30,000 above average, with monthly rents around $2,352.

Most Affordable

22033 is the entry point at $701,802, sitting nearly $77,000 below the citywide median. Rent in 22033 averages $2,248/month, also the lowest of the ZIPs with rent data. 22031 falls in the middle at $762,016, with rents of $2,353 — nearly identical to the pricier 22030 despite a $46,000 gap in home values. If you’re looking at value relative to rent, 22031 stands out.

Rent vs Buy in Fairfax

Three of Fairfax’s four ZIP codes have rent data. Here’s how they compare.

The average monthly rent across these ZIPs is roughly $2,318.

Now run the mortgage math. A $779K home with 20% down means a $623K loan. At a 7% rate on a 30-year fixed, that’s about $4,145 per month in principal and interest alone. Add property taxes and insurance, and you’re looking at $4,800 or more.

That’s more than double the cost of renting.

The price-to-rent ratio in Fairfax is high. Renting saves you roughly $2,000 per month in cash flow compared to owning. Of course, that calculation ignores equity buildup and tax deductions — but in pure monthly terms, renters have a clear advantage right now.

For buyers who need to be in Fairfax specifically, 22033 offers the best combination: lowest home prices and lowest rents, which suggests the area is broadly more affordable rather than just cheap to buy.

Population Growth and Migration

Fairfax is growing faster than most cities in Virginia. The population jumped 8.9% in four years — from 24,179 in 2020 to 26,340 in 2024.

Growth accelerated in 2023 and 2024. The city added 914 residents in 2024 alone — the biggest single-year gain in this dataset.

How does Fairfax compare to other Virginia cities?

Fairfax and Suffolk are in a dead heat for the fastest growth rate in the state. Alexandria, just 20 miles away, is flat. That 8.9% growth rate means more demand for a housing stock that isn’t expanding nearly as fast — one reason prices haven’t dropped despite rate pressure.

Fairfax Housing Market Trends

The 12-month trend tells a story of a dip and slow recovery.

Prices peaked in April 2025 at $783,324, then slid through the summer. September 2025 marked the bottom at $770,896 — a $12,428 drop from the spring high.

Since then, prices have climbed back steadily. Five consecutive months of gains brought values to $778,726 in February. That’s still $4,598 below the April 2025 peak, but the trajectory is upward.

The floor (cheapest ZIP) bottomed at $697,528 in September and has since recovered to $701,802. The ceiling (most expensive ZIP) followed the same pattern.

Is Fairfax a Good Place to Buy in 2026?

The numbers point to a stable market leaning slightly toward buyers.

A -0.5% annual decline is barely a decline at all. Prices aren’t falling in any meaningful way, but they’re not surging either. That gives buyers more negotiating room than they had in 2021 or 2022.

The math favors renting right now from a monthly cash flow standpoint. But if you plan to stay five or more years, the 8.9% population growth rate works in your favor. More people moving in, limited new housing stock, and proximity to the federal job market all support long-term demand.

ZIP 22033 gives you the lowest entry point under $702K. If you need more space and can stretch to $843K, 22032 holds the highest values and likely the most stable appreciation.

The gap between renting and owning is wide. Don’t buy here just because you can. Buy because you’re staying.

Fairfax Housing Market Outlook for 2026-2027

The 5-month recovery from September 2025 through February 2026 shows steady upward momentum — about $1,500 to $2,000 per month in gains.

If the current pace continues through spring and summer 2026, prices could retest the April 2025 high of $783,324 by mid-year. Spring typically brings more buyers and higher transaction volumes in the DC metro, which would support that trajectory.

The risk to the upside is mortgage rates. If rates climb, the monthly payment gap between renting and owning gets even wider, which could cool demand. On the other hand, Fairfax’s population growth and job market insulate it from the sharper corrections seen in less supply-constrained markets.

The 3-month trend from December through February shows $1,876 in total gains — modest but consistent. Expect more of the same: slow, grinding appreciation rather than any dramatic move in either direction.

Similar Markets in VA

If you’re considering Fairfax, these Virginia markets offer different price points and trade-offs.

• Arlington — The closest comparison geographically, with similar DC metro access and high price floors.
• Woodbridge — Further south along I-95, typically offering lower prices for buyers willing to commute.
• Fredericksburg — A popular landing spot for DC-area workers looking for more space at a lower cost.
• Chesapeake — Hampton Roads market with 2.1% population growth and prices well below Fairfax levels.
• Manassas — Western suburbs option, generally more affordable than Fairfax while still within the DC metro.

Frequently Asked Questions

What is the average home price in Fairfax?

The average home price in Fairfax is $778,726 as of February 2026. Prices range from $701,802 in ZIP 22033 to $842,767 in ZIP 22032, a spread of about $141,000 across the city’s four tracked neighborhoods.

Are home prices going up or down in Fairfax?

Prices are down 0.5% compared to a year ago, but the recent trend is upward. After dropping to $770,896 in September 2025, values have risen for five straight months. The decline is small enough that the market is essentially flat year over year.

Is it cheaper to rent or buy in Fairfax?

Renting is significantly cheaper on a monthly basis. Average rent is about $2,318/month, while a mortgage on the median home runs roughly $4,145/month before taxes and insurance. You’d pay about $2,500 more per month to own versus rent at current prices and rates.

What is the most affordable neighborhood in Fairfax?

ZIP code 22033 has the lowest home values at $701,802, roughly $77,000 below the city average. It also has the lowest rents at $2,248/month, making it the most affordable area in Fairfax by both measures.

Methodology

Home values are based on the Zillow Home Value Index (ZHVI), a smoothed measure of typical home values in the 35th to 65th percentile range. Rent estimates use the Zillow Observed Rent Index (ZORI). Population figures come from the U.S. Census Bureau Population Estimates Program (2020-2024 vintage). All datasets are publicly available. Housing data updated 2026-02-28.