Fairfax Virginia Property Management
WJD Knows the Fairfax Rental Market
Looking for Fairfax Virginia Property Management? WJD has been managing properties for Fairfax homeowners for over 35 years. Here’s what we know about the current local rental market.
1. The Washington area–Fairfax in particular–tends to maintain a strong and stable rental market regardless of what’s happening with home sales. There are many reasons for this–some owing to the transient and temporary nature of many well-paying Washington-area private-sector jobs, military assignments and government positions.
2. With a hot sellers market, the market for rentals is also booming. According to Bloomberg, “Rental prices for single-family homes grew an average of 7.8% in 2021, an all-time high, according to the most recent data available from CoreLogic Inc.” the fact is, local real estate brokers tell us that many buyers who are currently priced out of the market are still opting to wait to see what the market will do. Plus, even with changing interest rates and soaring interest rates, economists are saying housing prices will remain high.
Property Values in Northern Virginia
If you have spent any time at all in Northern Virginia, you know what a spectacular place it is to live and work. We truly are blessed to live here. We get to experience the best of all four seasons, we are surrounded by natural beauty, and the cost of living is quite reasonable relative to the abundance of high paying jobs.
If you live in Northern Virginia and have ever thought about getting into the real estate business, you may be pleasantly surprised to learn of some other advantages that come with living in this area as well.
Why Own Property in Northern Virginia?
This area has some unique demographics that makes it especially lucrative to invest in real estate. Our economy is based mostly on high tech and government jobs. We have a recession proof economy compared to a Rust Belt city with many cyclical manufacturing jobs, for example. We also have many people with well paid jobs who may be working in the area for a short period of time and do not necessarily want to set down roots.
All of that leads to a housing market with high rents and an abundance of well qualified renters. Owning rental properties in any area is a challenge, but it can be quite profitable here in Northern Virginia.
About Property Appreciation in Northern Virginia
Properties have a history of appreciating faster in Northern Virginia relative to the national average. Again this is due to the strength of the local economy and the high quality of life the area offers. Looking back several years, single family homes in Northern Virginia have appreciated about 20% faster than average. The numbers are similar for townhomes and condos.
Residential real estate is quite simply a fantastic investment in this area. Perhaps the best statistic that shows how lucrative it can be is that 51% of households in cities like Alexandria and Arlington are rentals. That is a phenomenally high number for a city with this type of economy. Not only do property values appreciate quickly, but rents are high and there are an abundance of high quality renters always coming and going.
It has been this way for decades, simply put, our economy makes this just about the best area in the country to become a landlord.
Taking Advantage of this Opportunity
Even though this is a superb area to invest in the real estate market, there are always challenges. Owning a managing a property does take a special skill set that not everyone has. That is why finding a qualified property manager is crucial.
Taking advantage of the quickly appreciating housing market is probably a lot easier than you may think. With the right property manager, you really don’t need any of the skills that are required to be a successful landlord.
We have been in this business for a long time and have put together a highly qualified team of professionals to make things easy for our clients. If you are a rental property owner or are thinking of becoming one, we can provide you with everything you need to be successful and can take care of all the details.
What Owners Say About WJD Management
“WJD has been my property management company for almost thirty years and has never failed to provide exemplary service. They handle everything and can be relied on to do it right. WJD keeps my properties rented and keeps me informed of anything I need to know. I would recommend them to any property owner.” Donald E., WJD Owner
Specializing in Northern Virginia Property Management–for over 35 Years
WJD has been managing residential real estate in Northern Virginia for more than 35 years–and we offer a comprehensive range of services, at competitive prices. We are located in the City of Fairfax, and we are the preeminent Fairfax property management specialists for the 22030 and surrounding zip codes. Get in touch today, and we’ll give you a free rental market analysis right away.
About Fairfax Virginia?
Fairfax County, officially the County of Fairfax, is located in the Commonwealth of Virginia in the United States. Part of Northern Virginia, Fairfax County borders both the City of Alexandria and Arlington County and forms part of the suburban ring of Washington, D.C. The county is thus predominantly suburban in character, with some urban and rural pockets.
As of the 2010 census, the population was 1,081,726. In 2019, it was estimated at 1,147,532, making it the Commonwealth’s most populous jurisdiction, with around 13% of Virginia’s population. The county is also the most populous jurisdiction in the Washington-Arlington-Alexandria, DC-VA-MD-WV Metropolitan Statistical Area, with around 20% of the MSA population, as well as the larger Washington-Baltimore-Arlington, DC-MD-VA-WV-PA Combined Statistical Area, with around 13% of the CSA population. The county seat is the City of Fairfax, though because it is an independent city under Virginia law, the city of Fairfax is not part of Fairfax County.
Fairfax was the first U.S. county to reach a six-figure median household income and has the second-highest median household income of any county-level local jurisdiction in the United States after neighboring Loudoun County.
The county is home to the headquarters of intelligence agencies such as the Central Intelligence Agency, National Geospatial-Intelligence Agency, and National Reconnaissance Office, as well as the National Counterterrorism Center and Office of the Director of National Intelligence. The county is also home to seven Fortune 500 companies, including three with Falls Church addresses; although Falls Church is its own independent municipality. – Wikipedia