Fairfax County’s population and housing inventory continued to grow during 2023, while home values climbed modestly between January 2023 and January 2024, according to the newly released Demographic Reports 2024.
The annual report provides a snapshot of Fairfax County as of Jan. 1, 2024, with estimates and forecasts on population, households and housing units, along with data on home values and development activity. Information is broken down by geographic areas such as supervisory districts, towns, ZIP codes and census tracts. Residents and county agencies can explore detailed trends using interactive and static maps available on the county’s Demographics site and Map Gallery. More recent economic trends since Jan. 1, 2024, are not captured in this edition but will be addressed in future demographic reports as data becomes available.
Key Highlights from the 2024 Report
- Population Growth: Fairfax County’s population grew by 0.9%, reaching over 1.19 million residents — reflecting steady demand and regional strength.
- Housing Inventory: Housing units increased by 1.1%, reaching 437,144, with growth concentrated in multifamily.
- Home Values: The median market value of owned housing rose 2.4%, reaching $708,383 and pointing to continued strength in the local real estate market.
- Household Income: Median household income declined modestly, by 2.5%, to $141,553. Despite the drop, it remains nearly twice the national median and well above the state average.
Measuring Income Inequality
New this year, the report introduces the Gini index, a widely used measure of how evenly income is distributed within a population. The Gini index ranges from 0 (perfect equality) to 1 (perfect inequality). Fairfax County’s score of 0.43 indicates a more equal income distribution than the region (0.45), state (0.47) or nation (0.48), though inequality has gradually increased across all levels over the past decade.
“The 2024 report provides both continuity and deeper context,” said Philip Hagen, director of the Department of Management and Budget. “We’re seeing steady growth in housing and population and we’re also building in new tools to understand economic equity countywide.”
Fairfax County averaged 657,000 jobs in 2024, with an unemployment rate holding steady at 2.5% for the third consecutive year, an indicator of continued economic resilience.
Digital Format
In support of Fairfax County’s environmental goals, the 2025 edition of the demographic report will be published in digital format. A limited number of printed copies of the 2024 report have been distributed to each Board of Supervisors office and to public library branches.
Residents, business owners, community organizations and policymakers are encouraged to access the Demographic Reports 2024 and the county’s interactive mapping tools at www.fairfaxcounty.gov/demographics.
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