The Fairfax County Department of Management and Budget has released the 2021 Fairfax County Rental Housing Complex Analysis. The report annually provides summary level data on a variety of rental housing topics including inventory of rental units, vacancy rate, and monthly rental costs. Information found in the report is frequently used for a variety of purposes including cost of living analysis and more. The report is prepared annually by the Economic, Demographic and Statistical Research Unit of the Department of Management and Budget. Questions regarding this report may be submitted via email to DMBInfo@fairfaxcounty.gov.
The analysis of 2021 data indicated a 7.1 percent increase in average market-rate rent costs from 2020. The average monthly rent for fair market rate rental housing units in Fairfax County ranges from $1,576 for studio/efficiency units to a high of $2,974 for four-bedroom units. This trend is generally consistent with housing conditions in many parts of the country, and public housing authorities across the nation are working to find ways of addressing the need for more affordable housing.
Housing news in Fairfax County has included several landmark investments of public land and significant financial investments of local, state, and federal resources to develop and preserve affordable housing. Within the last three years, the Fairfax County Redevelopment and Housing Authority, in partnership with Fairfax County Government, has grown the county’s affordable housing development pipeline to more than 3,000 units; made key investments to preserve hundreds of apartments as committed affordable housing for decades to come; and continued to administer more than 4,000 federal, state, and local rental assistance vouchers serving approximately 20,000 residents.
“Access to affordable housing is inseparably connected to a prosperous future for individuals, families, and for our community as a whole,” said FCRHA Chairman C. Melissa McKenna. “Seeing the data from last year only adds to the urgency with which we are pursuing our goal of adding 10,000 units of affordable housing by 2034, preserving what we have, and wisely administering our voucher programs to assist as many individuals as we can, because Fairfax County needs people who need affordable housing.”