Apartment rents in Fairfax County, Virginia, have risen in almost all areas except Tysons, with the largest increase being seen in Annandale, a city with a high concentration of Korean businesses, and Centreville, a city with the highest concentration of Korean residents.
Local media outlet FFXNOW reported on the 3rd that apartment rents in Fairfax County in October showed a year-on-year increase in most areas except Tysons, the most expensive area, citing a monthly report from Apartment List, an apartment information site. The increases varied greatly by area, ranging from 1% to 7%, with Tysons seeing a 2.3% drop.
In Annandale, the median rent for a one-bedroom apartment in October was $1,960 and for a two-bedroom apartment was $2,237, a 7% increase year-on-year, showing the largest increase in Fairfax County. Also, in Centerville, which has the highest concentration of Korean residents in Fairfax County, the median rent rose 4.3% from a year ago to $2,065 for a one-bedroom and $2,399 for a two-bedroom, while in Herndon, the median rent rose 1.6% to $1,809 for a one-bedroom and $2,171 for a two-bedroom.
Fair Oaks saw a 0.3% increase in median rents, with one-bedrooms at $2,189 and two-bedrooms at $2,447. Reston saw a 1.9% increase, with one-bedrooms at $2,197 and two-bedrooms at $2,326. Meanwhile, the most expensive apartment rent in Northern Virginia was in Arlington County, with one-bedrooms at $2,424 and two-bedrooms at $2,930. Arlington ranked fifth in the nation in this survey.
Ashburn, with one-bedrooms at $2,335 and two bedrooms at $2,800, was the second-most expensive in Northern Virginia. Meanwhile, the national average apartment rent last month was $1,381, down 0.9% ($13) from a year ago.