November 6, 2017 Published in Other News

Virginia’s Most Expensive ZIP Codes

By Balazs Szekely
Rent Cafe Blog  

Most expensive zip codes in Virginia (Courtesy Photo)

Reigning as Virginia’s #1 most expensive ZIP code for renters, 22209 in Arlington boasts an average rent of $2,348, according to Yardi Matrix. This is close to $1,000 over the national average, which clocked in at $1,354 in September. Supply levels remained unchanged across most Virginia ZIP codes, reflecting national trends. Although apartment construction nationally is at its highest level in 20 years, demand is still strong across the nation—especially since 64% of new supply is concentrated in the top 20 U.S. metros. Out of the top 50 most expensive Virginia ZIP codes, 22102 in McLean expanded its stock the most, by 10.8%

Here are some of the findings: 

  • 22209 in Arlington is the most expensive Zip Code in the state, boasting an average rent of $2,348. Rents in the area surpass the national average with almost $1,000 (in September, the national average was $1,354).
  • Arlington also comes 2nd, 3rd and 4th with Zip Codes 22207, 22201 and 22202. Average rents here are $2,295, $2,239 and $2,231 respectively, marking this county as the most expensive one for renters in Virginia.
  • Alexandria is present in the top with 12 entries. The most expensive Zip Codes in the county are 22314 and 22301 where average rents clock in at $1,989 and $1,900 respectively.

At a monthly average of $2,348, Virginia’s #1 most expensive ZIP code is 22209 in Arlington. Pricey rental options abound here, with apartments going for as much as $4,000 at Rosslyn Heights, $4,100 at London Normandy House and even $9,110 at Central Place. Stock levels remained unchanged in 22209, and so did the average rent. But as the 2nd and 3rd priciest ZIP codes for renters, 22207 and 22201 are located right next to 22209, it makes sense to discuss this area as a cluster of high-priced ZIP codes for Virginia renters. Rents in these two adjacent ZIP codes clock in at $2,295 and $2,239, respectively. Rental rates have increased by 5.3% on average in 22207, partly due to a drastic inventory loss—almost 11% of last year’s rental stock had seeped away over the past 12 months. In 22201 rents ticked up 0.3% year-over-year, while supply expanded 6.3%. Together, these ZIPs cover neighborhoods such as Old Glebe, Donaldson Run, CherrydaleWaverly Hills, Ballston, Virginia Square, Ashton Heights, Lyon Village, Colonial VillageNorth Rosslyn and Fort Myer. As such, Virginia’s top priciest ZIP cluster offers easy access to high-paying government jobs at The Pentagon and across the river in D.C., as well as access to a vibrant cultural scene, nightlife and foodscape.

With an average rent of $2,202, Arlington’s 22202 is Virginia’s #2 top most expensive ZIP area for renters. rents have expanded by 1.4% compared to the year-ago figure here, while the inventory has grown by 2%. Located across the Potomac from Washington D.C.’s Southwest Waterfront, 22202 covers Crystal City, Aurora Highlands, Pentagon City, The Pentagon and Arlington Ridge, as well as Ronald Reagan Washington National Airport. High profile rental options include the up to at $5,235/month 220 Twentieth StreetCrystal Towers where rents go as high as $5,300, and The Bartlett at up to $6,000.

Virginia’s #3 most expensive area for renters is 22102 in McLean. Rents here clock in at an average of $2,206, despite a 1.5% year-over-year contraction. Going against statewide trends, the supply exploded, adding 10.8% to the year-ago figure in the pricey Fairfax County ZIP. Covering the neighborhood of Tysons Corner and parts of McLean Town, high-priced rental options in 22102 include Post Tysons Corner where rents go as high as $3,500, and Highgate at the Mile, where the most expensive units go for $7,400 per month.

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