FXCO reports on demographic trends
Fairfax County’s population is holding steady, while household incomes and housing costs have increased, according to the 2023 demographic report by the Department of Management and Budget.
The county’s population in 2023 was 1,185,980. That’s a 1.1 percent increase from 2022, mirroring pre-pandemic growth rates.
By 2050, Fairfax County’s population is expected to be 1.38 million, representing a 16 percent increase from current levels.
The population of Mason District is 122,834. It’s expected to increase to about 127,800 in 2035 and 138,000 by 2050.
Mason District has 8.2 residents per acre, making it the second most densely populated district after Providence. The county average is 4.6.
Just over a quarter of residents countywide are under 20 years old, and 14.2 percent are 65 or older.
When broken down by race, 48.5 percent are White, 16.5 percent are Hispanic/Latino, 20.2 percent are Asian, and 9.6 percent are Black.
In 2023, Fairfax County’s housing inventory reached 432,550 units, reflecting an increase of 1.4 percent compared to 2022. The addition of 6,138 new units across various housing types marks the most substantial annual increase in the past decade. That indicates a strong rebound from the housing growth deceleration during Covid.
The housing growth observed in the past three years (2021-23) has exceeded the growth seen in the three years leading up to the pandemic (2018-20).
The county’s proportion of townhomes and multifamily housing units reached a historic high since data was available in 1950.
While there have been fluctuations over the years, the report states, the general trend is that Fairfax County continues to experience steady housing growth, particularly in multifamily housing units and townhomes.
By 2050, Fairfax County is expected to have 520,000 housing units. Every 10 units would consist of four single-family homes, two townhomes, and four multifamily units.
In 2023, the county’s median market value of owned housing units reached $691,564, reflecting a 6.7 percent increase from 2022. While still notable, this growth represents a slowdown compared to the prior year’s 10.9 percent increase, the report states.
Single-family units have the largest increase in value (up 8.1 percent).
The median market value of owned housing units in Mason District in 2023 is $638,215, up 6.7 percent from 2022. The Dranesville District experienced the biggest increase (up 10.4 percent).
The average monthly rent rose by 2.3 percent from $1,913 in 2021 to $1,958 in 2022.
The median household income in Fairfax County was $145,164 in 2022, an 8.2 percent increase from 2021. In 2022, the county’s median household income was nearly double the national median ($74,755) and was more than 1.5 times the state median ($85,873).
More than 62,800 Fairfax County individuals are below the poverty line, representing 5.6 percent of the county’s population. That’s down from 7.1 percent in 2021.
Among those below the poverty line, 5.6 percent are children (under 18), and 5.7 percent are aged 65 and older.
According to the Department of Management and Budget, 38.7 percent of residents, age 5 and older, speak a language other than English at home. In Mason District, that’s 51.9 percent.
Just over 30 percent of females and 34 percent of males countywide have an advanced degree, and 32.4 percent of females and 31.2 percent of males have a bachelor’s degree.
Among those aged 20-64, 76 percent of women and 87.4 percent of men are employed.