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How Much Does it Cost to Live in Fairfax, Virginia?

When it comes to the cost of living in Fairfax, you’ll find that it’s lower than the national average. In this article, we’ll examine the average salary in Fairfax, how much does apartment rent in Fairfax cost, and ways to save money. We’ll also discuss ways to carpool, vanpool, and telework result conducted by Del Aria Team.

Average salary in Fairfax

The average salary in Fairfax County, Virginia, is $210,907 per year. Salaries vary by location, job title, and experience. Fairfax County, VA salaries are typically higher than the national average. The table below details the salaries for different jobs in Fairfax. The salary ranges listed are representative of those in the same position, but may not be representative of all salaries in Fairfax.

Fairfax and Arlington counties saw a year-over-year increase in average wages. In the third quarter of 2020, the average weekly wage in both counties was $1,774. This is a 4.2 percent increase from the third quarter of 2019, and 7.5 percent higher than the national average. The average weekly wage in Fairfax County is higher than the national average, which is $1,173.

According to the Economic Policy Institute, to support a family, a single person would need to earn a minimum of $106,395 per year. The bottom 20 percent of Fairfax County’s workforce make between $40,000 and $60,000 a year. This is not enough to support a family of three.

Cost of living in Fairfax compared to national average

If you’re considering moving to Fairfax, Virginia, with realtors you’ll probably be interested in the cost of living in the region. The city has an incredibly high demand for single-family homes and home prices have increased by 18 percent since last year. However, you should keep in mind that Virginia property taxes are lower than the national average. These taxes are calculated based on the assessed value of a home, not the list price. The higher the assessed value, the more the tax bill will be.

Housing is a major component of American budgets. By understanding Fairfax’s cost of living, you’ll be able to decide if your salary is high enough to cover all of your expenses. A good rule of thumb is that your monthly housing costs shouldn’t exceed 28 percent of your gross income. In addition to that, you should also consider the cost of utilities and transportation.

Fairfax is bordered by Loudoun County to the west and Howard County to the east. According to the Economic Policy Institute, the median income in Fairfax County is $114,000 per family, or $122,000 for the average household. Housing costs are also a large expense in Fairfax, with a median home price of $546,000, nearly double the national average.

Apartment rent in Fairfax compared to state average

The median rent for a one-bedroom apartment in Fairfax is $1,693 a month, which is slightly higher than the state average of $1,617. However, the increase in rents is not as large as in other parts of the country. Fairfax rents are up 5.3% in the past year, well below the state average of 7.0%.

Fairfax has a relatively small population of less than 1,000 residents, making it an ideal place for families with young children. The average age of residents is under 36, and many are home owners. The average rent is $1,275 a month, which is higher than the state average by $283.

The average rent in Fairfax varies according to neighborhood. The most affordable neighborhoods are Armistead Park, Ashley Park, Avenir Place, Barrister’s Keepe, Beech Grove, and Windy Hill.

Carpooling, vanpooling, teleworking as ways to save money

One way to save money when living in Fairfax is to commute via transit. The average commuter in Virginia spends $2,600 per year on transportation costs. Many of the county’s residents drive alone to save on their costs, but there are other ways to cut costs. Commuter services like carpooling, vanpooling, and teleworking can help you save money.

The biggest cost of a shuttle service is paying the driver. Consider carpooling or vanpooling with a few coworkers to split the costs. Vanpools typically seat seven to 15 people and can travel up to 20 miles round trip.

Carpooling is a popular way to reduce the costs of commuting. Many people work in the same building and can share a van. The cost is typically between $180 to $350 per month and can be done as a pre-tax commuter benefit.

Del Aria Team
T25SA, 3975 Fair Ridge Dr, Fairfax, VA 22033
(703) 499-0111