McLean, VA Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

McLean, VA Housing Market Trends

With a population of 50,525, 16,409 total housing units (homes and apartments), and a median house value of $1,169,241, McLean house prices are not only among the most expensive in Virginia, McLean real estate also is some of the most expensive in all of America.

McLean is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in McLean than is found in 98% of the communities in America.

The large homes that make up McLean are primarily owner-occupied ( 86.43%).

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. McLean's housing was primarily built during this period, from the '40s through the '60s. A full 42.70% of the town's housing hails from this era. Other housing ages represented in McLean include homes built between 1970-1999 ( 38.78%) and housing constructed between 2000 and later ( 17.17%). There's also some housing in McLean built before 1939 ( 1.35%).

McLean Home Appreciation Rates

Appreciation rates for homes in McLean have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 36.51%, which ranks in the top 50% nationwide. This equates to an annual average McLean house appreciation rate of 3.16%.

Over the last year, McLean appreciation rates have trailed the rest of the nation. In the last twelve months, McLean's appreciation rate has been 4.37%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in McLean were at 1.47%, which equates to an annual appreciation rate of 6.01%.

Notably, McLean's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Virginia, our data show that McLean's latest annual appreciation rate is lower than 80% of the other cities and towns in Virginia.

One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within McLean differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in McLean - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best McLean real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$1,169,241

McLean, VA HOME PRICES

> $1,121,000
51.5%
51.5%
$841,001 - $1,121,000
31.0%
31.0%
$561,001 - $841,000
12.7%
12.7%
$448,001 - $561,000
1.5%
1.5%
$336,001 - $448,000
1.3%
1.3%
$225,001 - $336,000
0.7%
0.7%
$112,001 - $225,000
0.7%
0.7%
$56,001 - $112,000
0.2%
0.2%
$0 - $56,000
0.3%
0.3%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for VA

Value Relative To Nation

Number Of Homes And Apartments:
16,409

McLean Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
VA*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
148.38% 4.43%
10
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$3,999 / per month

Homeownership Rate

Owners
86.4%
86.4%
Renters
13.6%
13.6%
Vacant
6.3%
6.3%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
17.2%
17.2%
1970 - 1999
38.8%
38.8%
1940 - 1969
42.7%
42.7%
1939 or Older
1.3%
1.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
82.2%
82.2%
Townhomes
10.1%
10.1%
Small Apt. Buildings
0.5%
0.5%
Apt. Complexes
7.1%
7.1%
Mobile Homes
0.0%
0.0%
Other
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.7%
0.7%
1 Bedroom
4.3%
4.3%
2 Bedrooms
4.5%
4.5%
3 Bedrooms
19.4%
19.4%
4 Bedrooms
34.9%
34.9%
5 or more bedrooms
36.2%
36.2%
0.0% 100.0%
% OF HOMES