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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 63,226, 27,808 total housing units (homes and apartments), and a median house value of $754,857, Reston house prices are not only among the most expensive in Virginia, Reston real estate also is some of the most expensive in all of America.
Large apartment complexes or high rise apartments are the single most common housing type in Reston, accounting for 45.67% of the town's housing units. Other types of housing that are prevalent in Reston include row houses and other attached homes ( 31.60%), single-family detached homes ( 20.22%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.30%). This particular housing mix is relatively uncommon and characteristic of towns that are compact and walkable, and which often have a lively downtown.
The most prevalent building size and type in Reston are three and four bedroom dwellings. The town has a mixture of owners and renters, with 61.36% owning and 38.64% renting.
There is a lot of housing in Reston built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Reston built between 2000 and later ( 18.29%). A lesser amount of the housing stock also hails from between 1940-1969 ( 10.45%).
Some of the lowest real estate appreciation rates in America over the last ten years have been in Reston, where house values have increased just 52.98%, which is annualized rate of 4.34%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
NeighborhoodScout's data show that during the latest twelve months, Reston's appreciation rate, at 6.00%, has been at or slightly above the national average. In the latest quarter, Reston's appreciation rate has been 3.11%, which annualizes to a rate of 13.04%.
Importantly, this makes Reston one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Virginia, our data show that Reston's latest annual appreciation rate is lower than 50% 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 Reston differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Reston - 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 Reston real estate investment or home purchase decisions.
$754,857
for Virginia
for nation
27,808
$2,807 / per month