The typical owner-occupied home in Fairfax Station is worth about $897,000, 2.3 times the Virginia median of $383,700 and 2.7 times the national median of $332,700. Owners pay a median $8,729 a year in property taxes, about 0.97% of their home's value, higher than the Virginia rate of 0.73%. The median household earns $212,224 a year, so the median home costs 4.2 times the median income (4.1 times for Virginia). 94% of occupied homes here are lived in by their owners, and 76% of those owners still have a mortgage.
Fairfax Station at a glance
| Fairfax Station | Virginia | U.S. | |
|---|---|---|---|
| Median home value | $897,000 | $383,700 | $332,700 |
| Median property tax paid per year | $8,729 | $2,790 | $3,119 |
| Property tax as a share of value | 0.97% | 0.73% | 0.94% |
| Median household income | $212,224 | $93,170 | $80,734 |
| Homes lived in by their owners | 94% | 67% | 65% |
| Owner homes with a mortgage | 76% | 67% | 61% |
| Median monthly costs, owners with a mortgage | $3,751 | $2,127 | $1,963 |
| Those costs as a share of the owners' income | 19.7% | 20.1% | 21.0% |
| Median rent | $2,794 | $1,579 | $1,413 |
| Rent as a share of renters' income | 45.2% | 29.4% | 30.6% |
| Median year homes were built | 1982 | 1984 | 1980 |
| Vacant homes | 1.0% | 8.7% | 10.1% |
| Population | 12,566 | 8,705,170 | 334,922,499 |
What a typical home costs per month in Fairfax Station
At this week's average 30-year rate of 7.11%, buying the median Fairfax Station home of $897,000 with 20% down costs about $5,926 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $7,565, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $253,979 for the 20%-down payment. That payment is 34% of the median Fairfax Station household income of $212,224; at that income and 20% down, the 28% guideline points to a home of about $750,000.
The median rent here is $2,794 a month, so owning the median home costs about $3,132 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $179,400 |
|---|---|
| Loan amount | $717,600 |
| Principal and interest | $4,827 |
| Property taxes (0.97% a year) | $725 |
| Homeowners insurance (our estimate, 0.5% a year) | $374 |
| PMI | $0 |
| Total per month | $5,926 |
Change the numbers in the calculator
| Down payment | $31,395 |
|---|---|
| Loan amount | $880,753 |
| Principal and interest | $5,925 |
| Property taxes (0.97% a year) | $725 |
| Homeowners insurance (our estimate, 0.5% a year) | $374 |
| FHA mortgage insurance | $541 |
| Total per month | $7,565 |
Change the numbers in the calculator
Questions about home buying in Fairfax Station
What is the median home value in Fairfax Station?
About $897,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Fairfax Station?
Homeowners pay a median $8,729 a year, which is about 0.97% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Fairfax Station?
For the median home with 20% down at 7.11%, the payment is about $5,926 a month. Keeping that under 28% of gross income takes about $253,979 a year.
More about Fairfax Station
- Mortgage Refinance in Fairfax Station
- Debt Relief in Fairfax Station
- Home Equity Loans in Fairfax Station
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data