Most Expensive Places to Buy a Home in Virginia

Beautiful Virginia wins people over because of its overall exceptional quality of life. Between its coastline and the mountains are affluent communities bursting with all you need: arts, culture, recreation, high-performing schools, and safe neighborhoods to raise a family. That lifestyle comes at a cost. Virginia’s housing prices sit near nationwide averages, with a statewide median value of $365,000 in 2022.

Some communities exceed these median prices, often because of their proximity to the state’s most in-demand places to live. We analyzed US Census data and the most recent available housing information to identify ten of the most expensive places to buy a home in Virginia.

Primarily, that is northern Virginia. Given the DC metro’s combination of federal and corporate employment opportunities, cultural attractions, and general demand for housing, it shouldn’t be a surprise that the most expensive places to buy a home in Virginia are concentrated here. From “least” most expensive to the top-dollar housing market, they are:

Overview of the Richest Counties in Virginia

Virginia is home to some of the wealthiest counties in the United States, thanks to its robust economy, diverse industries, and high standard of living. The richest counties in Virginia are predominantly located in Northern Virginia, particularly in the suburbs of Washington D.C. These counties offer an exceptional quality of life, top-tier schools, and a plethora of amenities, making them highly attractive to residents and businesses alike. The combination of scenic beauty, historical significance, and modern conveniences makes these affluent counties stand out not just in the state, but across the nation.

Median Household Income as a Key Indicator

Median household income is a crucial indicator of a county’s wealth and prosperity. In Virginia, this metric varies significantly across different regions, with the wealthiest counties boasting median household incomes well above $100,000. For instance, Loudoun County, VA, leads the pack with a staggering median household income of $147,111, underscoring its status as one of the richest counties in the state. Similarly, Fauquier County, VA, showcases its affluence with a median household income of $105,665. These figures highlight the economic strength and high living standards prevalent in these areas.

Fairfax

Fairfax, the cheapest of the ten most expensive housing markets is still the home of wealthy individuals and had a median home value of $674,800. But a November 2023 median sold price of $611,000 hints things may be changing for city homeowners and prospective buyers.

Find Fairfax about 19 miles west of Washington, DC. Downtown is easy to reach as I-66 runs on the northern border. The town is one part colonial charm and one part modern city. Travel + Leisure ranks it as the 4th best place to live in Virginia because of how this unique combination comes together to create a rounded lifestyle.

Education is prized here. The top-ranked George Mason University lends a progressive college-town feel, as this institution is proud of its social justice initiatives and embracing challenging issues. Its public school system often ranks highly, and its high school received a National Gold Award for being among the nation’s best. 

A weekend walk through Old Town Fairfax drives home a sense of a thriving American community between its quirky shops and boutique dining venues. The community embraces the small-town vibe, with hallmark events being the Fall Festival, an all-day Independence Day celebration, and the Old Town Fairfax Festival. But with all the retailers, easy health care, and business access, Fairfax is a dynamic urban center in the Northern Virginia metro.  

Gainesville

This Virginia Census-designated place (CDP) may lack mega-urban infrastructure, but a housing value of $683,800 says that doesn’t matter. The median sold price of $700,000 in late 2023 attested to its desirability. The more spacious housing available in Gainesville has the bonus of Lake Manassas waterfront with its easy access to drive into the DC metro when needed.

Gainesville lies in Prince William County, Virginia, approximately 35 miles west-southwest of Washington, D.C., and directly off I-66. Residential neighborhoods, commercial centers, and green spaces characterize the area outside the Beltway. It may not be an incorporated town, but it doesn’t feel that way with its Virginia Gateway development. This mixed-use center with over 120 shops and restaurants lends Gainesville that “Main Street America” vibe. Locals also have craft breweries, distilleries, an equestrian center, world-class golfing, a massive state forest, and big box chains. It all supports a well-rounded lifestyle, which is why Gainesville is one of the most expensive places to buy a home in Virginia. 

South Riding

Another CDP outside the Beltway, South Riding homes had a median value of $685,400 in 2022. The number of available listings (15 in January 2023) impact pricing. The December 2023 median sold price was $635,000, but listing prices were higher at $790,000. 

Part of South Riding’s appeal is the carefully designed planned neighborhoods with high-income households, which lean into the suburban vibe. It thoughtfully places its schools, shopping districts, and recreation choices within easy reach of residents.

It’s not a town, but it does have a homeowner’s association for its 6,300-home community. The HOA manages a Town Hall plus recreation facilities that include outdoor swimming pools, playgrounds, tennis courts, and pedestrian trails. The Dulles South Recreation and Community Center has a rock-climbing wall, lazy river, sports court, and outdoor skate and bike park. 

Plus, its public schools rank among the nation’s best.  For those who must travel across the nation, Dulles International Airport is just a few minutes away. The DC metro center is 32 miles away. All that contributes to a high quality of life and housing demand. 

Ashburn

Factors Contributing to High Home Prices in Virginia

High home prices are a hallmark of Virginia’s richest counties, driven by several key factors:

Proximity to Job Centers and Amenities

One of the primary reasons for the elevated home prices in Virginia’s affluent counties is their proximity to major job centers and a wealth of amenities. Many of these counties are located near Washington D.C. and the tech hubs of Northern Virginia, providing residents with easy access to employment opportunities, shopping centers, restaurants, and entertainment venues. For example, Arlington County, VA, situated just across the Potomac River from Washington D.C., boasts a median home price of $776,229. This close proximity to the nation’s capital and its associated amenities significantly drives up housing demand and prices.

Loudoun County

This CDP had a median home value of $695,000. With winding roads and a classically suburban feel, homes had a median sold price of $637,500 but a list price of $715,000.

Find Ashburn further away from DC in Loudon County, north of Dulles International Airport. The community is part of the far western DC metro area, where master-planned developments have grown over the last few decades. 

Sandwiched between Highway 7 and 267, Ashburn is near prime shopping at the Dulles Town Center, the Potomac River, and more rural reaches of Northern Virginia. The town identifies as a hi-tech and commercial center with a data-forward economy. It has over 25 data centers operating in the surrounding area, giving it the nickname “Data Center Alley.”

While not a town, it does have a historic village center that doubles as a community gathering place for farmer’s markets and special events. Find local restaurants and shopping, which connect to the miles-long pedestrian W&OD trail as an added lifestyle bonus.

West Falls Church

Home values broke another benchmark, coming in at $702,400 as we move closer to the DC center into West Falls Church. Not to be confused with next door City of Falls Church, this densely populated CDP had a median sold price of $760,000 in December 2023.

This highly residential section spans from south of Highway 29, crossing Arlington Blvs, and down to Holmes Run Stream Valley. As only some know this region by its Census-designated name, subdivisions include Jefferson Village, Westlawn, Mosby, Sleepy Hollow, and Broyhill Park. 

Similar to other “inside the Beltway” CDPs, around 29,000 people lived in West Falls Church. It falls in Fairfax County, giving locals access to high-quality public schools, robust commercial corridors, and in-demand work opportunities.  

Burke

Home values here were estimated at $708,100 for 2022, making it the fifth most expensive place to buy a home in Virginia. Recent sales prices tell a different story but were elevated to $665,000, a 5.4% increase over December 2022. 

Burke is a southwestern DC suburb that lies outside the I-495 Outer Belt. Over 44,000 people packed into this Fairfax County neighborhood, lending it a dense suburban landscape. But it’s not a concrete jungle. Tree-lined streets, parks, and proximity to nature, with attractions such as Burke Lake Park and Pohick Creek Stream Valley Park, characterize the neighborhood. The parks provide opportunities for outdoor recreation, including hiking, fishing, and boating. 

Several highly-rated schools are zoned into Burke. For DC commuters, find convenient access to major transportation routes such as the Fairfax County Parkway and Interstate 495. Downtown DC is about 22 miles away. The Virginia Railway Express (VRE) has a station in Burke for easy rail commuting.

Alexandria

This high-demand city across the Potomac from DC had median housing values of $748,300. But homes were selling for a median of $595,000. Some of that relates to how more townhomes and condos–smaller properties with a smaller overall sold price–were on the market. 

Travel + Leisure ranked Alexandria as the third best city to live in Virginia. Locals love the town’s beautiful riverfront, complemented by a historic cobblestone-streeted Old Town and Main Street packed with shops and restaurants. Notable landmarks include George Washington’s Mount Vernon Estate, the Torpedo Factory Art Center, and Christ Church, a place of worship since the 18th century. 

As a place to live, it’s hard to beat how well Alexandria connects to the DC metro through bridges and rail lines. It’s easy to reach the cultural attractions along The Mall, Century City shopping, and delicious DC restaurants. Inside the city limits, locals have a real community focused on neighborhood-based activities and nurturing a small-town lifestyle, even though it’s at the heart of a major urban center. Locals have over 170 city parks, 200 daycare centers, high walkability, and multiple festivals and fairs. The one-two punch of location and robust amenities drive up demand to make Alexandria one of the most expensive places to buy a home in Virginia. 

Oakton

Residents had strong median home values of $783,900. With its proximity to Vienna and Fairfax, two top suburbs to live in DC, Oakton’s home values keep growing. December 2023 had a median sold price of $880,500, while list prices were at a median $1.5 million.

Oakton falls inside Fairfax County, 18 miles from DC. I-66 forms the southern border, but even with its commute access, the area feels like a quiet, rural neighborhood. That doesn’t mean it lacks convenience, as Oakton has an expansive recreational center with indoor and outdoor activities, a nine-hole golf course, and multiple community parks. It has a weekly farmers’ market, shopping plazas, and highly-rated schools. It’s just less commercialized than some other areas ranked on this list–and that is part of its attraction.

Arlington

Situated across the Potomac from DC, this top place to live in Virginia had housing values to match its demand: $828,500. That made Arlington the third most expensive city to buy a home in Virginia. December 2023 had a median home sold price of $750,000 and similar median list prices. 

Arlington has earned many accolades, such as having one of the nation’s best urban park systems, being a “fit” city, and, overall, one of the best places to live in VA. Many know the city’s notable landmarks: the Pentagon, Arlington National Cemetery, and the Marine Corps War Memorial (Iwo Jima Memorial). 

But while tourists come and go, for those who live in the DC metro, Arlington is a place that hits a lot of the right notes. The Rosslyn-Ballston corridor is a well-known urban corridor with high-rise buildings, offices, and energetic nightlife. Multiple Metro stations, major highways, and bridges enhance Arlington’s accessibility into the urban core across the Potomac. So does an extensive bike system, which was part of Arlington’s push to innovative and sustainable city planning.

The school system lists with Virginia’s best, both at the public K-12 level and for higher education. Unemployment is low, as it has incredible access to private and government employment. Most residents live within a ten-minute walk of a park. The list of urban amenities available in Arlington runs long, and all that pushes up demand for its housing, making it one of the most expensive places to buy a home in Virginia and the nation.

Brambleton

Brambleton’s homes carried a median value of $839,000. This far western DC suburb is prized for its more rural-style housing–and for its access to Dulles International, which is just east of the neighborhood. Median sold prices were $720,000, but it had only 70 homes for sale.

This is a planned community in Loudon County right next door to Ashburn. From its inception, the idea was to improve work-life balance for DC area residents. Brambleton is known for its commitment to green spaces and sustainability, and as such, it has received recognition for its thoughtful urban planning. 

Among its perks, Brambleton has a branch of the county library, an artisans market, and a Town Center with fitness studios, taco joints, and premium yogurt among its shops. Residents can enjoy pools, trails, parks, and sports fields. Schools are walkable within the community, which also has medical facilities and a movie theater.

McLean

The most expensive place to buy a home in Virginia was McLean, where homes had a median value of $1,351,100. That’s also where median sold prices were sitting for December 2023, although the list prices were higher at $3 million. Travel + Leisure ranked it the 9th best place to live in Virginia for 2023. 

Location is part of the reason McLean is the most expensive Virginia neighborhood. It sits directly on the waterfront along the Potomac and faces Washington, DC, and other Maryland suburbs. The top cities of Falls Church, Arlington, and Pimmit Hills form its borders. Prime access to I-495 and I-66 cut down on drive commute times in this city, which is notorious for bridge back-ups. It also has its own Metro stop for added convenience. Falls Church city is the second richest county in Virginia.

Besides being 10 miles from downtown DC, McLean residents benefit from a high-performing and rigorous school system. Low crime rates lead to children playing outside in their yards and neighborhood parks. A community center hosts theater, art, and music performances throughout the year, while the popular Tyson’s Corner Center and Galleria add convenient high-end shopping and entertainment.  

Tree-lined streets and ample green spaces add to its scenic beauty. Locals have picturesque views of the Potomac River from Great Falls Park, which also has 15 miles of trails. You can even take a kayak out on the mighty river from Scott’s Run Nature Preserve. 

Luxurious estates, high-end homes, and well-maintained neighborhoods characterize McLean. Many diplomats, business executives, and professionals choose to live in McLean, adding to its desirability among Virginia homeowners.

Demographics of Virginia’s Richest Counties

The demographics of Virginia’s richest counties are characterized by a highly educated and professionally accomplished population.

Age, Education, and Occupation

Residents in these affluent counties tend to be well-educated, with a significant portion holding advanced degrees. They are often employed in high-paying industries such as technology, finance, and healthcare. For instance, Howard County, MD, located near Northern Virginia, has over 60% of its residents holding a bachelor’s degree or higher. Similarly, Santa Clara County, CA, known for its tech industry, has over 50% of its population with a bachelor’s degree or higher. These demographics reflect the high level of education and professional achievement that contribute to the wealth and prosperity of Virginia’s richest counties.

Economic Conditions in Virginia

Virginia boasts the sixth highest per capita income of any state in the United States, underscoring its status as one of the wealthiest states in America. With a per capita GDP of approximately $81,794, Virginia’s economy is more substantial than that of some European nations, showcasing its robust economic framework. The state’s economic landscape is diverse, with significant contributions from various sectors, including defense, technology, and finance.

The economic conditions in Virginia are deeply influenced by factors such as educational attainment, race, ethnicity, gender, and location. For instance, King George County’s largest employer is the Naval Surface Warfare Center Dahlgren Division, a pivotal military installation that plays a crucial role in the local economy. Meanwhile, Goochland County has successfully attracted major corporations like Capital One, CarMax, and the Federal Reserve Bank of Richmond, enhancing its economic profile.

York County’s economy thrives on defense and tourism, reflecting the county’s strategic positioning and historical attractions. In Loudoun County, located in the northeastern tip of Virginia within the Washington-Arlington-Alexandria metro area, residents benefit from the proximity to major metropolitan amenities and employment opportunities. Arlington County, known for its aerospace manufacturing and defense companies, further underscores Virginia’s strong presence in the defense sector.

The American Community Survey uses $250,000+ as a jam value for median income estimates to protect privacy, highlighting the high income levels in certain areas. Virginia’s economic vitality is a testament to its strategic location, diverse industries, and the presence of affluent counties that contribute significantly to the state’s wealth. As one of the most affluent states, Virginia continues to attract businesses and residents seeking a high quality of life and economic prosperity.

Frequently Asked Questions About Richest Neighborhoods In Virginia

What city in Virginia has the highest cost of living?

Arlington is the city with the highest cost of living in Virginia and its has to do with its expensive homes. According to data from bestplaces.net, Arlington has a cost of living index of 164.3, which is 64.3% higher than the national average and approximately 57.7% above the state average, showing why it is one of the richest cities in The Old Dominion State. The cost of living in Arlington, Virginia, is mostly driven by real estate costs. The average home price in Arlington is currently $802,485, showing an increase of 3.9% in the past year.

What is the most expensive zip code in Virginia?

The most expensive ZIP code in Virginia is 22101, located in McLean. As of September 2024, the median home listing price here was $1.3M, making it one of the priciest residential real estate markets in the Washington, D.C., metropolitan area. McLean is one of Virginia’s expensive cities, known for its business hubs, affluent residents, and luxurious residences.

How much money do you need to live comfortably in Virginia?

The median household income in Virginia is between $80,000 and $90,000. This includes fundamental costs like housing, utilities, food, healthcare, transportation, and other basic needs. Before considering buying houses for sale in Virginia it’s important to consider the median income, but also that cost of living varies greatly across the state. Wealthiest cities like Arlington and Alexandria have higher living costs than other places, like Roanoke or Lynchburg, for example.

What are the most affluent counties in Virginia for homebuyers?

For homebuyers seeking Virginia’s most affluent counties, the following areas are notable for their high median household incomes and corresponding property values:

1. Loudoun County: With a median household income of $170,463, Loudoun County stands as one of the richest counties in Virginia. The median home price here is approximately $722,198.

2. Fairfax County: This county boasts a median household income of $145,165, reflecting its affluent status. The median home price in Fairfax County is around $694,980.

3. Arlington County: Known for its rich cities and proximity to Washington, D.C., Arlington has a median household income of $137,387. The average home price in this area is about $763,340.

4. Prince William County: With a median annual income of $123,193, Prince William County is among Virginia’s wealthiest. The median home price here is approximately $539,025.

5. Stafford County: This county has a typical income of $128,036, with average home prices reflecting its affluent status. The median home price in Stafford County is around $515,381.

6. Goochland County: With a median household income of $100,000, Goochland County ranks among Virginia’s wealthiest. Known for its rural charm and proximity to Richmond, it offers a high quality of life with scenic landscapes and modern amenities.

7. King George County: With a median household income of $96,711, King George County is recognized for its blend of rural charm and suburban convenience. The median home price here is approximately $400,000, reflecting its appeal to those seeking a balanced lifestyle near Fredericksburg and Washington, D.C.

The average median household income in the top 10 wealthiest counties in Virginia significantly exceeds the state average. We use median instead of average because the median income is a more accurate representation of a typical income compared to average income.

Most Expensive Places to Buy in Virginia

Buying a home anywhere in Virginia, whether in areas like Fairfax, Arlington, McLean, Oakton, or others, involves considering various factors beyond the price tag. Think about the quality of life gained in these high-dollar areas of Northern Virginia. The access to cultural attractions, outdoor activities, and excellent schools is hard to match elsewhere. It may be just the right place for your family to buy a home in Virginia.