Apartment rental prices continue to rise across Fairfax County, even as they cool nationally, and nowhere in the county is pricier for renters than Tysons.
With a median rental price of $2,450 for one-bedroom apartments and $2,938 for two bedrooms, Tysons topped Fairfax County in May and was second only to Arlington regionally, according to new data from Apartment List.
After years of overseeing projects around the D.C. region, Southern Management’s old Tysons office could be the scene of a new redevelopment.
Southern Management, which relocated its offices to Valo Park (7950 Jones Branch Drive) a couple of years ago, has enlisted Insight Property Group for a proposal to raze the building at 1950 Old Gallows Road near the Leesburg Pike/I-495 interchange and replace it with a new, 304-unit apartment building.
Year-over-year apartment rents continue to trend upward in Northern Virginia, even as fears of economic upheaval loom.
The growth also comes despite a national year-over-year decline in median apartment rental prices.
A pair of apartment buildings in north central Tysons recently changed hands, resulting in a name change for one of the properties.
Hanover Tysons, a 412-unit residential building at 1500 Westbranch Drive, has been rebranded as The Jones at Tysons after its original developer, The Hanover Company, sold the property to the financial services firm Mesirow Financial late last year.
Fairfax County’s homes market saw year-over-year upticks in sales and prices in 2024.
A total of 11,787 properties changed hands during the year, according to preliminary figures reported by Bright MLS, the region’s multiple-listing service.
Potential economic and political headwinds are unlikely to derail sales and price increases Northern Virginia’s 2025 housing market, industry experts believe.
That’s good news for prospective sellers, but purchasers, especially first-time homebuyers, could face continued challenges, according to a 2025 housing market forecast publicly unveiled on Tuesday (Dec. 17) by George Mason University researchers and the Northern Virginia Association of Realtors (NVAR).
At least one gunshot was reportedly fired at apartments in Tysons Towers, a senior living community off of Gosnell Road near the Greensboro Metro station.
Police officers responded to the 8500 block of Tyspring Street in Tysons at 7:58 p.m. last Friday (Nov. 22) after receiving a call for a “missile” fired into an occupied dwelling, according to the Fairfax County Police Department.
Fairfax County’s unemployment rate saw little movement in year-over-year in new data, while those seeking to rent apartments across the county are likely to be paying more than they would have a year before.
The new figures represent employment conditions recorded in September and housing costs in October.
Tysons continues to have the priciest apartment-rental costs in the D.C. region.
The median Tysons apartment-rental price in September was $2,654 ($2,414 for one-bedroom units and $2,894 for two bedrooms), according to figures reported last Thursday (Oct. 3) by Apartment List.
A nuanced effort to convert vacant office buildings into residential housing could be a net fiscal positive for the Fairfax County government.
That was the conclusion of an analysis presented to county leaders on Tuesday (Oct. 1). But it arrived with some caveats and some questions from members of the Board of Supervisors.
