Quick facts: Falls church, VA

Quick Facts

130.5
Cost of Living
above US average
14,586
Population
17.62
Crime Rate per 1000
below US average
$164,536
Median Income
above US average
$999,900
Median House Price
above US average
$3485.71
Average Rent
above US average
6%
Poverty Rate
below US average
2.5%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $164,536.

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Income Needed to Buy

βœ— Stretch
$314k/year
Based on $999,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $314k vs median $164,536
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Income Needed to Rent

βœ“ Affordable
$149k/year
Based on $3485.71/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($164,536) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Falls church, VA

Falls Church, Virginia, is a charming city located just six miles west of Washington, D.C. Known for its rich history and vibrant community, it offers a mix of suburban tranquility and urban conveniences. The city's historic downtown area features a variety of shops, restaurants, and cultural attractions, including the State Theatre and the Falls Church Farmers Market, one of the oldest continuously operating markets in Virginia. Falls Church is acclaimed for its excellent public schools, making it a desirable location for families. The area is also well-connected through public transit, including Metro services, providing easy access to the broader D.C. metropolitan area. Outdoor enthusiasts can enjoy parks like Cherry Hill Park and many walking trails. The city hosts various community events throughout the year, fostering a strong sense of community. With its unique blend of history, culture, and modern amenities, Falls Church is an appealing place for residents and visitors alike.

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