Updated October 2026
You've toured two Old Town condo buildings in one weekend. One has a lower monthly fee. The other has a doorman, a rooftop, and a garage space that comes with the unit. You're standing on the sidewalk trying to decide which one is actually the better buy.
Here's the short answer. The fee on the listing is the least useful number in that comparison until you know what it covers, how big the unit is relative to the building, and what the association has already decided to spend. The real comparison happens document by document: the resale certificate, the budget, the reserve study, and the rules.
This isn't a ranking of buildings. Fees, reserves, and rules are specific to each association and change with every budget year, so the method below is the part that holds up. If you're still deciding whether condo life in Old Town fits at all, our Old Town Alexandria condo guide is the better starting point.
The short version
- Compare fees for units of similar size and share of the building, and only after you know what each fee includes.
- A lower fee isn't proof of better value. Read the reserve study summary and any approved special assessment before you decide.
- Amenities count only as the governing documents describe them. Parking, storage, rentals, pets, and renovations all live in the rules.
- Taxes, the city stormwater fee, insurance, and flood exposure sit outside the condo fee. Add them in.
- Resale evidence has to come from sales in the building itself. A ZIP code median can't tell two buildings apart.
First, agree on what "Old Town" means
Listings use "Old Town" loosely, so it helps to know the official lines.
The Old & Historic Alexandria District is a regulatory boundary, and per the City of Alexandria's historic preservation office it was established in 1946 and is the third-oldest historic district in the United States. The city describes it as generally running from Hunting Creek north to Bashford Lane, and from the Potomac River west to near the King Street Metro.
The 22314 ZIP code is a different shape. It includes Old Town, and it also includes Carlyle and Eisenhower Valley. So when you see a statistic for 22314, you're looking at more than Old Town.
For your shortlist, the practical question is simpler. Is each building inside the historic district or not? That affects what an exterior project looks like, and it's worth knowing before you compare capital plans.
Fees: compare what the fee buys, not the fee
Two monthly fees can't be compared on their face. In our experience, three things have to line up first.
Unit size and share. A condo's assessment is usually tied to the unit's share of the building's common expenses. A one-bedroom in one building and a two-bedroom in another aren't a fair match. Compare similar units, or ask each association how assessments are allocated.
What's included. Some budgets cover heat, water, or a front desk. Others don't. Line up the services side by side, then separate out anything billed on its own: a parking space, a storage unit, a move-in fee, a bike room.
What's already been decided. Virginia's Resale Disclosure Act requires the resale certificate to state the amount and payment schedules of assessments, any capital expenditures approved for the current and next fiscal years, the current reserve study or a summary of it, any approved special assessment, a description of the association's insurance coverage, and any restriction on renting the unit.
That list is your comparison template. It's the same set of facts for every building, which is exactly what makes it useful.
The certificate comes with a fee. Under the Resale Disclosure Act's fee section, the maximum allowable fees are published by the Common Interest Community Board, took effect January 12, 2023, and must be adjusted at least every five years.
Here's the side-by-side we'd build for any two buildings on your list.
What to compare | Where it usually lives | Why it matters |
|---|---|---|
Regular assessment for a comparable unit | Resale certificate and adopted budget | The starting number, once units match |
Services the assessment covers | Budget and declaration | Separates a high fee from a high bill |
Parking and storage charges | Declaration, rules, resale certificate | Often billed apart from the fee |
Approved special assessments | Resale certificate | A cost already on the calendar |
Approved capital projects, this year and next | Resale certificate | Work the budget has to fund |
Reserve study date and summary | Resale certificate | How the board plans for big repairs |
Master insurance coverage | Resale certificate | What you'll need to insure yourself |
Rental restrictions | Resale certificate and declaration | Your options if plans change |
Pet, renovation, and move rules | Rules and regulations | How you'll actually live there |
Recent closed sales in the building | MLS records and city land records | The only resale evidence that's building-specific |
Reserves and special assessments: the part a fee hides
Virginia's Condominium Act requires the board to conduct a study at least once every five years of the reserves needed for capital components, review that study at least annually, and adjust the budget and assessments as needed. Owners are entitled to the annual budget or a summary of it.
That's the law. It doesn't tell you whether a given building is keeping up.
Our read: a fee that looks low next to a neighbor's building can mean an efficient association, or it can mean the reserves are carrying less than the roof, elevators, and windows will eventually ask for. The reserve study summary, the capital project list, and any approved special assessment are what separate the two. Recent board minutes, when you can get them, often show what's being discussed before it's approved.
And one caution we'd underline. Not finding a public notice of a special assessment doesn't mean a building has none planned. The certificate and the board's own records are where that question gets answered.
Amenities: read the rules, not the brochure
A rooftop terrace in the listing photos is a marketing fact. What you can do with it is a governing-documents fact.
For each amenity on your list, ask the same questions:
- Is it included, or is it billed? Fitness rooms, party rooms, and guest suites sometimes carry reservation fees.
- Is parking deeded, assigned, or leased? In Old Town that answer matters. Our Old Town Alexandria parking guide covers how street parking works around the historic core.
- Is storage tied to the unit? Some storage conveys with a unit, some is rented from the association.
- What do the rules say about pets, renovations, and moves? Flooring requirements, contractor hours, and elevator reservations all shape daily life.
- Can you rent it? The resale certificate has to state any rental restriction, and the declaration has the details.
On rentals, the city has its own rules on top of the building's. In Alexandria, any property used as a short-term rental for more than 10 days in a calendar year needs a Short-Term Residential Rental Permit, with an annual fee of $350 for owner-unoccupied rentals or $100 for owner-occupied rentals. A condo declaration can be stricter than the city, so a city permit doesn't settle the question by itself.
If your eventual buyer might use FHA financing, ask a lender to check the building's FHA condo approval status. It's a quick question that can matter at resale.
The costs that sit outside the condo fee
Two buildings with identical fees can still cost you different amounts each year.
Real estate tax. Per the City of Alexandria's Finance Department, the calendar year 2026 real estate tax rate is $1.135 per $100 of assessed value. Each unit's assessment drives its bill, so compare assessed values for similar units, and talk with a CPA about your own situation.
Stormwater fee. The same city release puts the annual stormwater utility fee at $340.30 per Equivalent Residential Unit for FY 2026. Condos aren't billed the full unit. The city's stormwater fee schedule bills garden-style and high-rise condos at 0.28 ERU, which came to $47.64 on the May 2026 bill and $50.04 on the October 2026 bill. By our math, that's $97.68 across the two 2026 bills. Those amounts apply to the garden-style and high-rise condo tier. Check the unit's actual bill, classification, and applicable credits before adding the fee to your cost picture.
Flood exposure. According to the city's flood map page, the current FEMA maps took effect January 11, 2024, and about 20% of Alexandria is mapped as floodplain. Through the Community Rating System, residents can get up to a 20% discount on flood insurance premiums. None of that tells you a particular building's zone, so look up each address. Our post on Old Town waterfront flood zones walks through what the maps mean near the river.
Your own insurance. The Virginia SCC Bureau of Insurance homeowners guide explains the split. The association's policy covers the structure and common property. A unit-owner policy covers your personal property and any additions or alterations the association doesn't insure. The guide also suggests discussing additional coverage for loss assessments. Homeowners policies generally exclude flood, and a new flood policy usually has a 30-day waiting period before it takes effect.
The master policy description in each resale certificate is a starting point. Review it, the governing documents, and the deductibles with a licensed insurance professional to clarify coverage responsibilities and coordinate unit-owner and loss-assessment coverage.
Resale: what the ZIP numbers can and can't tell you
This is the part buyers ask about most, and it's where the data gets thin fastest.
For August 2026, Bright MLS closed-sale data shows 54 closed sales in the 22314 ZIP code, which includes Old Town, with a median sale price of $783,450 and a median 13.5 days on market. Source: Bright MLS closed-sale data, ZIP 22314 (City of Alexandria), August 2025 and August 2026, pulled September 27, 2026.
The same data for August 2025 shows 58 closed sales in that ZIP code, a median sale price of $752,600, and a median 12 days on market.
Those counts cover all residential sales in the ZIP code, condos alongside townhouses and detached homes. One month in one ZIP code is also a small sample. So those figures describe the August pace around you, not how any building's units sell. Our August 2026 market pulse has more on the wider picture.
Building-level resale evidence looks different. In our experience, it comes from three places:
- Closed sales in the building itself, matched by unit size and layout, over a long enough window to mean something.
- Recorded transfers in city assessment and land records, which show dates and prices but not how long a unit sat or what concessions were given.
- The documents a future buyer will read. Your buyer will get a resale certificate too. Rental limits, an approved special assessment, or an old reserve study will be on it.
That last point is the one we'd sit with. When you compare two buildings today, you're also previewing the packet your own buyer will compare someday. If you're already thinking that far ahead, our guide to selling a home in Alexandria covers the steps from the other side.
About the authors
Elizabeth Lucchesi and the LizLuke Team at LONG & FOSTER REAL ESTATE INC wrote this guide. We work the whole market, small condos through the high end. Most of our business comes from referrals and repeat clients. You can read more about Elizabeth and the LizLuke Team.
If you've got two buildings on your list and a stack of association documents, we're glad to read through them with you.
This is general information and is not legal or tax advice.
The LizLuke Team at LONG & FOSTER REAL ESTATE INC. 110 N Royal St, Ste 300,
Alexandria, VA 22314. Office 703.683.0400. The LizLuke Team (703) 868-5676. Virginia License #0225069250.
Equal Housing Opportunity.
All information is deemed reliable but not guaranteed.
Sources
- City of Alexandria Historic Preservation, Old & Historic Alexandria and Parker-Gray Districts, and One Hundred Year Old Buildings: https://www.alexandriava.gov/historic-preservation/old-historic-alexandria-and-parker-gray-districts-and-one-hundred-year-old
- City of Alexandria Finance, news release on first-half 2026 real estate tax bills (May 2026): https://www.alexandriava.gov/news-finance/2026-05-15/alexandria-mails-2026-first-half-real-estate-tax-bills-due-june-15
- City of Alexandria Stormwater Management, Stormwater Utility Fees and Credits for Residential Properties: https://www.alexandriava.gov/stormwater-management/stormwater-utility-fees-and-credits-for-residential-properties
- City of Alexandria, Flood Map: https://www.alexandriava.gov/FloodMap
- City of Alexandria Zoning, Short-Term Residential Rentals: https://www.alexandriava.gov/zoning/short-term-residential-rentals
- Code of Virginia, Resale Disclosure Act, resale certificate contents: https://law.lis.virginia.gov/vacode/title55.1/chapter23.1/section55.1-2310/
- Code of Virginia, Resale Disclosure Act, resale certificate fees: https://law.lis.virginia.gov/vacode/title55.1/chapter23.1/section55.1-2316/
- Virginia State Corporation Commission Bureau of Insurance, Virginia Homeowners Insurance Guide: https://www.scc.virginia.gov/consumers/insurance/property-casualty-consumer/virginia-homeowners-insurance-guide/
- Bright MLS closed-sale data, ZIP 22314 (City of Alexandria), August 2025 and August 2026, pulled September 27, 2026.
