Cost of Living in Fairfax, VA 2023

Fairfax is one of the best places to live in Virginia and the Washington, DC metropolitan area. The population of Fairfax is currently 24,276 as it is an independent city within the Commonwealth of Virginia.

In addition to being a huge tech hub for the country, home to 11 Fortune 500 company headquarters, Fairfax has one of the best college towns in the country. George Mason University and Northern Virginia Community College are both found in Fairfax.

Whether you’re looking to move to Fairfax to take advantage of the booming economy, access to Washington, DC, or both, you need an idea of your costs. Let’s look at the cost of living in Fairfax to understand better how much you need to live there.

Fairfax Housing Costs

The winter months bring cold weather and reduced rental prices. As things begin warming up again, moving towards the summer months, rent prices increase.

Not surprisingly, Fairfax rent prices are increasing and are 2.0% above what they were last year. This increase falls below the national average of 3.4% and above the state average of 3%. According to the latest Rent Report on Fairfax, the median rent index is $1,680 for a one-bedroom apartment and $2,000 for a two-bedroom.

Other major cities across the Washington DC metropolitan area have also seen growth in rent prices over the last year. All in Maryland, Baltimore (https://www.apartmentlist.com/rent-report/md/baltimore), Rockville, and Germantown are up by 1.0%, 1.4%, and 3.1%, respectively.

Similarly, the Fairfax housing market has seen steady, significant growth, with median home prices currently at $749,000. Compared to competing areas like Baltimore, these prices are high, with a median price index of $194,900, Rockville at $462,500, and Germantown at $368,000.

Fairfax Transportation

Fairfax has several modes of public transportation, including Amtrak, Virginia Railway Express (VRE), PRTC, Loudoun County Transit, Arlington Transit (ART), Fastran, Fairfax CUE, Fairfax Connector, Metrobus/Metrorail, WMATA Trip Planner, and Guaranteed Ride Home. The most extensive local bus system in the Northern Virginia region is the Fairfax Connector, transporting nearly 30,000 passengers daily across 91 routes.

Still, you might opt for a vehicle of your own to take advantage of all Fairfax offers. If you're a single adult without children, you'll spend about $5,477 for transportation in Fairfax annually. A family of four, including two working adults and two children, will pay $14,484 for transportation annually.

When it comes to gasoline prices in Fairfax, you can expect to pay around $3.69 per gallon, slightly lower than the national average of $3.78.

Fairfax Food Costs

Fairfax offers countless dining options, including Pad See Ew and Frozen Thai Tea at Sisters Thai, Mint Chocolate Oreo Milkshakes from The Silver Diner, and fresh-squeezed mimosas from Artie’s.

Eating at an inexpensive restaurant in Fairfax costs an average of $19.38 for a meal, while a three-course dinner for two people at a mid-range restaurant will run $75 without alcohol or dessert.

If you're a single adult without children, you can expect to pay at least $3,926 on food per year, while a family of four with two working adults and two children should expect to pay $11,564 per year.

You can anticipate paying below the national average for food items from local grocery stores like 99 Ranch Market, H Mart, and Sultan Gourmet Market. For example, one gallon of regular milk costs $5.69 in the grocery store, with the national average being $3.87.

Fairfax Healthcare Costs

When planning your budget in Fairfax, it’s important to account for proper medical care. A single adult without children will pay around $3,247 for medical care annually, while two adults with two children should expect an additional $9,860.

Fairfax Utilities

Fairfax has four distinct seasons.

Summers are humid and warm, while winters are snowy and cold. To combat the cold winters and muggy summers, you'll need to account for higher utilities year-round. Fairfax’s basic utilities include electricity, heating, cooling, water, and garbage, running $205.35 for a 915-sq. ft. apartment.

Adding on the Internet with 60 Mbps or more with unlimited data, cable/ADSL will cost you an extra $73.57 for a total of $278.92 each month.

To get a better idea of what to expect and how to budget accordingly, determine how much utilities will cost in an apartment before you move.

Fairfax Fitness and Entertainment

Fairfax’s drastic year-round climate change means that you might want to consider fitness club membership costs to keep fit. The monthly fee for a fitness club membership for one adult is $68.

Otherwise, you can enjoy the beautiful Fairfax landscape when the weather permits. Some favorite outdoor activities include walking the Lake Thoreau Loop Trail, biking Mount Vernon, or hiking Burke Lake Park’s trail system.

There is plenty of indoor entertainment throughout the city. For example, if you enjoy the local cinema, it will cost you $15 without snacks or drinks. Or, you can save some cash and check out some of the popular free things in the city like the Fairfax Museum, the Jurassic Encounter at Bull Run Special Events Center, or The Plaza at Tysons Corner Center.

Other Expenses to Consider in Fairfax

Virginia has a progressive tax rate. The highest rate falls below the national average. Sales and property taxes also tend to fall below national averages. The current sales tax rate in Fairfax City is 7.25%.

You will also need to consider costs associated with cross-country movers, storage, hotels, and transportation if you are moving out of state to Fairfax. Often accompanying these moves include apartment application fees, security deposits, pet deposits, and other add-ons.

Don’t overlook furnishing your new home. You can check out some tips and tricks on decorating your apartment on a budget to help you save some cash during your big move.

Recommended Salary in Fairfax

Your recommended salary in Fairfax depends entirely on the type of lifestyle you plan to lead. The living wage in Fairfax is $22.42 per hour, which is the basic wage needed to pay for essentials like housing, food, and necessities. Keep in mind when calculating your budget that extra costs like dining and entertainment are not a part of the living wage.

The average salary index in Fairfax is $82,000 per year, roughly $23.04 per hour. However, according to the U.S. Census Bureau, the median household income in Fairfax is $118,492.

To determine your ideal salary in Fairfax, consider the 30% rule for rent. If you plan to follow this rule, you should not be spending more than one-third, or 30%, of your gross income on rent.

According to the 30% rule, if your rent for a one-bedroom apartment in Fairfax is $1,680, your monthly wages should be at least $5,600 a month, which equates to an annual salary of $67,200. This recommended salary is for a fundamental lifestyle while in Fairfax.

For any city, including Fairfax, remember that the living wage, average salary, and recommended salary are three different things. You’ll need to anticipate needs regarding additional living costs, including dining, entertainment, etc. You might find that you’ll need to search for a higher salary, a less expensive apartment, or both in a perfect world.

Thankfully, the typical annual salaries for common professions in Fairfax are highly competitive. For example, the three highest typical annual salaries belong to Management, Computer and Mathematical, and Legal, respectively.

Final Thoughts

If you are interested in moving to Fairfax, an area consistently ranking in the top 5 of Forbes's wealthiest U.S. counties, you’ll need to find which neighborhood is best for you and learn how to apartment hunt. Then, register with Apartment List today and start checking out the hundreds of available apartments to rent in Fairfax!

FAQs: Cost of Living in Fairfax in 2023:

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

We suggest sticking to the 30% rule when renting an apartment to stay within your budget. A one-bedroom apartment in Fairfax will run about $2,196 a month, so your salary should be at least $87,840 per year, or about $43.69 per hour. We also looked at MIT’s living wage estimate for Fairfax, which stands at $29.21 per hour. Looking at these numbers together should cover your basic expenses, but without much room for indulgences, students loans, or other debts.

Where is the most affordable place to live in Fairfax?

Fairfax is notoriously expensive, but there are cheaper, nearby areas, like Centreville, VA. Apartments start at $1,250 a month. You can also lower your costs by teaming up with a roommate to split everything, including utilities.

What is the average electric bill in Fairfax?

Fairfax’s basic utilities include electricity, heating, cooling, water, and garbage, running $191.72 for a 915-sq. ft. apartment. Keep in mind Fairfax winters are snowy and cold and summers are humid and sticky, so you should plan for a spike. If you want a phone plan and Internet with 60 Mbps or more with unlimited data, cable/ADSL you'll spend an extra $128.75 for a total of $320.47 each month.

What is the population of Fairfax?

According to the U.S. Census Bureau, the population of Fairfax was 24,276 at the end of 2022.

What is a good salary in Fairfax?

According to the U.S. Census Bureau, the median household income is $118,492. However, the recommended salary in Fairfax is $5,600 per month or about $67,200 annually. This total reflects a salary that would allow a renter to live comfortably and afford to cover the median rent for a one-bedroom apartment which sits at $1,680.