Are you thinking of investing in a rental property in Northern Virginia, or just wondering where you might get the most for your money? Keep in mind every city and neighborhood is different and numbers vary between the type of home, but the information below will give you a snapshot of where to start your search.
Arlington County
$657,000 – Avg. Sales Price
$2,490 – Avg. Monthly Rent
43 days – Avg. Sales Days on the Market (DOM)
43 days – Avg. Rental DOM
2.8% – Avg. Sales Price Increase
1.1% – Avg. Rental Price Increase
Fairfax County
$556,000 – Avg. Sales Price
$2,360 – Avg. Monthly Rent
52 days – Avg. Sales DOM
39 days – Avg. Rental DOM
4.8% – Avg. Sales Price Increase
3.3% – Avg. Rental Price Increase
Loudoun County
$504,000 – Avg. Sales Price
$2,280 – Avg. Monthly Rent
38 days – Avg. Sales DOM
33 days – Avg. Rental DOM
4.0% – Avg. Sales Price Increase
4.8% – Avg. Rental Price Increase
Prince William County
$379,000 – Avg. Sales Price
$1,920 – Avg. Monthly Rent
39 days – Avg. Sales DOM
34 days – Avg. Rental DOM
4.1% – Avg. Sales Price Increase
1.7% – Avg. Rental Price Increase
As you can see, Loudoun County may be a promising investment area with its lower purchase prices, reasonable rental prices, and quickly increasing rates. By contrast, Arlington County may be a less desirable investment area with its high purchase prices and lower appreciation rates. That said, you also want to consider the area’s stability – Loudoun is recently rapidly growing whereas Arlington has steadily and consistently grown over decades. Your real estate agent will be able to best advise for your specific situation.
For more information or for data in specific cities, email palmer@palmerharned.com.
Posted on January 3, 2018 at 11:33 pm by Palmer Harned
