Park Fairfax median real estate price is $419,088, which is more expensive than 49.7% of the neighborhoods in Virginia and 57.0% of the neighborhoods in the U.S.
The average rental price in Park Fairfax is currently $2,662, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 66.2% of the neighborhoods in Virginia.
Park Fairfax is an urban neighborhood (based on population density) located in Alexandria, Virginia.
Park Fairfax real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Park Fairfax neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
In Park Fairfax, the current vacancy rate is 2.1%, which is a lower rate of vacancies than 85.8% of all neighborhoods in the U.S. This means that the housing supply in Park Fairfax is very tight compared to the demand for property here.
Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Alexandria, the Park Fairfax neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Of note is NeighborhoodScout's research finding that the Park Fairfax neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Park Fairfax community truly stands out from the rest in this regard.
In addition, the types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. NeighborhoodScout's exclusive analysis reveals that this neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone: 68.0%. This is a higher percent living alone than we found in 99.7% of all U.S. neighborhoods. Often residents who live alone are new arrivals to an area who are single, and often senior citizens who have lost a spouse.
Also, do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. NeighborhoodScout's research revealed that a full 82.0% of the adults living in the Park Fairfax neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 98.4% of U.S. neighborhoods. In this way, this neighborhood truly stands out.
Most neighborhoods have a mixture of ages of homes in them, from new to old, but this neighborhood stands out due to its concentration of residential real estate built in one time frame: from 1940 through 1969, generally considered older, well-established homes. This was a busy time in America for home construction. After the end of World War II, as GIs came home, bought newly built homes on the edges of cities with the help of the GI Bill, and began their families. This housing era generally coincides with the 'Baby Boom' generation (1945 - 1964), and many baby boomers grew up in homes built in this era. But what is so interesting about the Park Fairfax neighborhood, is that an incredible 83.5% of the homes here were built in this era. So when you walk its streets or drive through, this neighborhood has a look and feel that harkens to that era in American life, a very important slice of Americana.
In addition, the Park Fairfax neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 94.3% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
Furthermore, if you love row houses and attached homes, you will probably really like the Park Fairfax neighborhood. The ambiance, the charm, of row houses is something special. And in sheer abundance of row houses, this neighborhood truly stands out. The real estate here has a higher proportion of row houses and attached homes than nearly any neighborhood in America. In fact, 33.5% of the residential real estate here is classified as row houses and attached homes.
Executives, managers and professionals make up 77.4% of the workforce in the Park Fairfax neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 98.5% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
Did you know that the Park Fairfax neighborhood has more Lebanese and Arab ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 6.8% of this neighborhood's residents have Lebanese ancestry and 7.1% have Arab ancestry.
How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.
The neighbors in the Park Fairfax neighborhood in Alexandria are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 73.5% of the neighborhoods in America. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America's neighborhoods.
A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.
In the Park Fairfax neighborhood, 77.4% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is government jobs, whether they are in local, state, or federal positions, with 12.4% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (10.5%), and 9.7% in sales and service jobs, from major sales accounts, to working in fast food restaurants.
The most common language spoken in the Park Fairfax neighborhood is English, spoken by 88.6% of households. Some people also speak Spanish (2.6%).
Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.
In the Park Fairfax neighborhood in Alexandria, VA, residents most commonly identify their ethnicity or ancestry as German (20.4%). There are also a number of people of Irish ancestry (16.4%), and residents who report English roots (15.7%), and some of the residents are also of Italian ancestry (12.0%), along with some Arab ancestry residents (7.1%), among others. In addition, 13.2% of the residents of this neighborhood were born in another country.
Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Park Fairfax neighborhood spend between 15 and 30 minutes commuting one-way to work (34.2% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (59.0%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (6.8%) and 5.9% of residents also take the train for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.