Updated October 2026
You have a number. Maybe it came from a lender. Maybe it came from a long talk at the kitchen table. Either way, the next question is the same one we hear all the time: what does that number actually get us here?
The useful answer starts in two places. Where your budget sits against the rest of the market, and what it costs to carry each month once you own it.
The short answer
The City of Alexandria's Office of Real Estate Assessments puts the average CY 2026 residential condominium at $460,185 and the average single-family house at $1,045,750. The average for all existing residential property, single-family and condominium combined, is $757,706.
So, broadly:
- $600K lands above the average condo assessment and below the average residential assessment.
- $900K lands above the average residential assessment and below the average single-family assessment.
- $1.5M lands above the average single-family assessment.
Two cautions. Assessments are the City's estimate of value for tax purposes, not sale prices, and these are averages, not a picture of any one home. They tell you where a budget lands on the map. The house, the block, and the ownership type decide the rest, which is why we wrote a separate walk-through of how Alexandria home prices work.
First, which Alexandria?
"Alexandria" on an envelope doesn't always mean the City of Alexandria. The City is independent, and some Alexandria mailing addresses sit in Fairfax County instead. The City's tax guide for new residents notes that the 22302, 22304, 22311 and 22312 ZIP codes are shared between Fairfax County and the City, and that 22206 is shared between Arlington County and the City.
That matters for your budget in two ways. Market figures for the City and for Fairfax County are different measurements, so we keep them in separate paragraphs below. And your tax bill follows the jurisdiction, not the mailing address.
Before you fall for a house, confirm which side of the line the parcel is on.
Where the market stood in August 2026
August 2026 is the most recent month of association sales data released as of early October 2026.
The broader NVAR region covers Fairfax and Arlington counties, the cities of Alexandria, Fairfax, and Falls Church, and the towns of Vienna, Herndon, and Clifton. Across that whole area, the median sold price was $765,000 in August 2026, according to the Northern Virginia Association of REALTORS®. The region logged 1,324 closed sales, 2,932 active listings, and 2.08 months of supply.
Our read: those are region-wide figures, not City counts. They describe the broader market you're shopping in. They aren't a promise about any one search, and they say nothing about what's on the market this week.
Just past the city line: the 22307 ZIP code
The 22307 ZIP code, which includes Belle Haven and New Alexandria, carries an Alexandria address but sits in Fairfax County, outside the City of Alexandria.
EagleWorks AI analyzed Bright MLS closed-sale records for all residential closed sales in the 22307 ZIP code. By that analysis, the median sale price was $1,187,500 on 10 closed sales in August 2026. In August 2025, the median was $610,000 on 17 sales. Median days on market declined from 27 to 17 days.
Chart 1. Median sale price, 22307 ZIP code, August 2025 vs August 2026. All residential closed sales. Source: EagleWorks AI analysis of Bright MLS closed-sale records, all residential closed sales, ZIP 22307 (Fairfax County), August 2025 and August 2026, received September 27, 2026.
The bars show the median sale price in the 22307 ZIP code for August 2025 and August 2026, and the gap between them is large. Read it carefully. One ZIP code in one month rests on a small number of closings. In our read, a swing that size mostly reflects which homes happened to close each August, not a change in what the same house is worth. What the numbers do support is narrower. Median days on market for all residential closed sales in 22307 declined from 27 days in August 2025 to 17 days in August 2026.
If you're comparing 22307 with neighborhoods inside the city, our guide to Alexandria home values by neighborhood is the better starting point.
What each budget costs to carry: rates and taxes
Freddie Mac's Primary Mortgage Market Survey put the 30-year fixed rate at an average of 7.28% as of October 1, 2026, up from 7.03% the week before. The 15-year averaged 6.60%. That's a national benchmark, not a loan offer. Your lender sets your rate and can turn it into a monthly payment for your down payment, and it's worth that call before you set a ceiling.
By our math, here's the annual property tax at each budget, figured as if the home were assessed at its purchase price.
Budget | Annual tax, City of Alexandria (by our math) | Annual tax, Fairfax County general rate (by our math) |
|---|---|---|
$600,000 | $6,810 | $6,720 |
$900,000 | $10,215 | $10,080 |
$1,500,000 | $17,025 | $16,800 |
The City figure uses the real estate tax rate of $1.135 per $100 of assessed value that City Council set on April 29, 2026. The Fairfax figure uses the county's Tax Year 2026 general rate of $1.12 per $100. Some Fairfax parcels add district levies on top, such as the Stormwater Service District at $0.0325 and Infestation Prevention at $0.001, and not every levy applies to every parcel. Assessed value and purchase price are rarely the same number, so treat the tax columns as a rough frame.
These tax figures leave out homeowners insurance, condo or HOA fees, and mortgage insurance, all of which belong in a full monthly budget. This is general information and is not legal or tax advice. A CPA can tell you how the bill lands for your household.
What $600K means in Alexandria
At $600K, you're shopping above the City's CY 2026 average condo assessment and below its average residential assessment. In our experience, ownership type does most of the work at this budget, more than any single feature.
If a condo is in the picture, the monthly fee belongs in your math from the first showing, right next to your mortgage payment. So does the association's resale packet, which is worth reading line by line before you commit. We cover both in our guide to Alexandria condo fees and resale packets.
The other early decision is jurisdiction. On the same budget, City and Fairfax tax bills come out close by our math, but the parcel's side of the line also decides which assessor, which permit office, and which services you deal with for as long as you own it.
What $900K means in Alexandria
At $900K, you're above the City's CY 2026 average residential assessment but below its average single-family assessment.
This is the budget where, in our experience, buyers most often weigh one ownership type against another, and one neighborhood against another. That second choice usually comes down to how you want to live day to day: walking distance, the age of the housing stock, how much yard you want to keep up. If you're deciding between the closer-in neighborhoods, our piece on choosing between Old Town, Del Ray, and Rosemont lays out the questions we ask.
Carry cost changes the conversation here, too. The tax table above shows one side of it; your lender can put the mortgage payment right next to it before you settle on a ceiling.
What $1.5M means in Alexandria
At $1.5M, you're above the City's CY 2026 average single-family assessment, and above every median sale price figure in this guide.
At this level, our read is that the questions shift from "what type of home" to "what comes with this particular house." Two local items deserve a look before you write an offer. Homes in the Old and Historic Alexandria District or the Parker-Gray District go through design review for many exterior changes, which shapes any renovation plans. And parts of the Old Town waterfront and the Four Mile Run area fall in special flood hazard areas, which affects insurance and, often, lender requirements. Our guide to Old Town waterfront flood zones walks through how to check a specific address.
Neither one is a reason to pass on a house. Both are reasons to know before you commit.
About the LizLuke Team
Elizabeth Lucchesi and the LizLuke Team at LONG & FOSTER REAL ESTATE INC put this guide together for buyers weighing a budget against a real block. Elizabeth founded The LizLuke Team in 2003 and has been selling these blocks ever since. We work the whole market, small condos through the high end. If you'd like to put your number next to a specific street, meet the team and reach out whenever you're ready. It all starts with a conversation.
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
- Northern Virginia Association of REALTORS®, Market Statistics: August 2026 (regional median sold price, sales, active listings, and months of supply)
- City of Alexandria, Office of Real Estate Assessments, 2026 Real Estate Assessment insert (CY 2026 average residential, single-family, and condominium assessments)
- Freddie Mac, Primary Mortgage Market Survey, week of October 1, 2026
- City of Alexandria, Real Estate Tax Information (rate set April 29, 2026)
- City of Alexandria, Tax Guide for New City Residents
- Fairfax County Department of Tax Administration, Real Estate Tax Rates, Tax Year 2026
- EagleWorks AI analysis of Bright MLS closed-sale records, all residential closed sales, ZIP 22307 (Fairfax County), August 2025 and August 2026, received September 27, 2026
