The real estate landscape of Virginia showcases a diverse array of communities characterized by their affluence and high property values, particularly within the Washington, D.C. metropolitan area. Recent analyses have targeted the most expensive ZIP codes in Virginia, revealing that this state, notably rich in both historical and geographical attributes, has many areas with soaring home prices. The data, sourced from Zillow’s home value index and complemented by insights from the 2023 American Community Survey, highlights prevailing trends affecting housing markets in Virginia. This investigation centered on 758 ZIP codes, leveraging comparative metrics over the last year and historical benchmarks, providing a vivid picture of the state’s luxury housing segment.
The housing market in Virginia, defined by its proximity to D.C., emphasizes the trend that many of the priciest ZIP codes are located in Northern Virginia. The top five ZIP codes reveal not only high property values but also significant appreciation trends over recent years, which reflect both economic growth and desirability driven by location and community features. As high-income professionals continue to gravitate towards regions with convenient access to the nation’s capital, the demand for properties in these neighborhoods remains robust, further inflating home values across this discerning market.
The pinnacle of the Virginia housing market is represented by ZIP code 22066, encompassing Great Falls, a locale famous for its scenic beauty and upscale living. With median home values skyrocketing nearly 50% over five years, from approximately $1.058 million to over $1.571 million by late 2024, this area exemplifies investment allure. Furthermore, a substantial year-over-year appreciation of 6.5% from November 2023 underscores a sustained demand for residences in this sought-after ZIP code, despite the logistical challenges in commuting to D.C.
Following closely is ZIP code 22101, located in McLean, known for its affluence and rich demographic profile. Statistics reveal that the average household income ascends to $359,152, with over 60% of residents earning $200,000 or more, positioning McLean as a hub of wealth. The price trajectory here is notable as well, with home values rising from about $1.099 million in late 2019 to over $1.536 million in late 2024—a remarkable increase of nearly 40%. This consistent rise is motivated by the neighborhood’s reputation and the practical benefits it offers to residents.
ZIP code 22207, situated northwest of D.C. and enveloped by McLean and Arlington, ranks as the third-most expensive area, with home values appreciating steeply. Its expansive blend of communities, including Bellevue Forest and High View Park, illustrates a blend of suburban tranquility and urban proximity. Here, median home values climbed approximately 30%, establishing a current median around $1.316 million. The year-on-year growth rate of 6.6% affirms the area’s persistent allure to potential buyers seeking upscale housing options close to the capital.
Dunn Loring, found in ZIP code 22027, encapsulates a community with high earning residents and consistent property appreciation. With a median home value advancing from roughly $923,234 in late 2019 to $1.275 million in 2024, the area mirrors the broader Northern Virginia trend of rising housing costs. Particularly notable is the mean household income of $337,083, which signals that the neighborhood attracts affluent buyers, contributing to its desirability and reinforcing housing demand.
Lastly, ZIP code 20197, centered in Waterford, provides a contrasting yet appealing focus on rural luxury, nestled away from the immediate D.C. hustle. Here, the median home value’s remarkable ascension of 61.2% from $759,473 to over $1.224 million within five years represents significant market activity, likely driven by a desire for larger properties in serene settings. Despite being more spacious and removed from urban chaos, the average household income closely aligns with the median, denoting a stable economic demographic rather than a broad variance seen in other ZIP codes. This juxtaposes Virginia’s diverse housing landscape, where wealth and lifestyle converge, showcasing a microcosm of America’s broader economic trends in real estate.