Table of Content
The median home cost of living in McLean, Virginia is $926,900. However, this does not cover other living costs, such as child care, utilities, groceries, and taxes. With a cost of living index of 203.0, it is considerably more expensive than the US average of 100.0 and Virginia’s overall 103.7 cost of living index. Homes in McLean receive 1 offers on average and sell in around 35 days. The average sale price of a home in McLean was $1.3M last month, up 2.4% since last year. The average sale price per square foot in McLean is $409, up 8.8% since last year.
Local real estate agents are ready to help you find a home here. Work with a top McLean real estate agent to figure out the best selling strategy and start bidding wars on your home. Homes in McLean are staying on the market for 0 days on average.
Neighborhood Housing Markets
Homes include single family houses as well as apartment and condominium units. Includes Cost of Living compares for child care, utilities, transportation, health, taxes, housing for home owners vs renters, weather, insurance premiums and so much more. McLean has been consistently rated one of the best places to live in Virginia. McLean is a suburban-style city with lots of shops, restaurants, coffee houses, parks, and outdoor activities nearby. The public schools in McLean are very highly rated, making it an ideal city to raise children.
The proportion of homes and apartments in the city built within a certain time period. While each home is unique, the average price per square foot of an area can give a sense of the market in a particular area. Using a weighted 3 month average, Zillow reports the average price per square foot for McLean was $391 per square feet of living space; while Fairfax County had a price per square foot of $274.
Mclean SnackAbility
Get cash offers with HomeLight Simple Sale, the fastest way to sell your home. If you’re looking to live in the metro Washington, DC/Northern Virginia area, McLean is hard to beat. McLean is an enjoyable area to visit with nightlife and activities if you are a single person. If you become a Virginia resident who attends Northern Virginia Community College annually, you will spend around $5,610 for tuition alone.
However, this does not cover costs or room and board, or any textbook fees. Activity Price RangeRestaurants (2 people/mid-range)$70.00Fitness Club $90.00Movies $13.00Depending on where and when you go, activities fees will vary. There can always be extra expenses with activities, depending on the time of day, day of the week, number of people attending, etc. There may be certain places that do not include garbage, and you will have to find your way to dispose of your trash. Some places will cover this cost, but you must provide your garbage cans that still need to meet community requirements.
Rentals
The appreciation rates serve as an accurate indicator of house price trends at the neighborhood level. Neighborhood appreciation rates from NeighborhoodScout are based on both median house value data reported by respondents via the U.S. Bureau of the Census, and a weighted repeat sales index, meaning that they measure average price changes in repeat sales or refinancings on the same properties.
In Fairfax County, for instance, the extra city and county sales tax rates total 1.70%. This means that the total sales tax rate in McLean, Virginia is 6.0%. Owning a home in McLean is comparatively slightly more expensive than in other areas of the country. Most homes in Virginia cost around $307,964, while living in McLean costs approximately $926,900.
McLean's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in McLean during the period has been just 3.41%, which is lower than 80% of US communities. The BestPlaces cost of living index is the most accurate and complete available because we add many new categories to the current and historical systems.
If you wish to report an issue or seek an accommodation, please contact us at BRIGHT MLS is the provider of this home sale information and has compiled content from various sources. Some properties represented may not have actually sold due to reporting errors.
This city had 71 entries in the past 12 months by 9 different contributors. Members receive 10 FREE city profile downloads a month, unlimited access to our detailed cost of living calculator and analysis, unlimited access to our DataEngine, and more. Our cost of living indices are based on a US average of 100. An amount below 100 means McLean is cheaper than the US average. A cost of living index above 100 means McLean, Virginia is more expensive. We use data, analytics, and a sense of humor to determine quality of life for places across the nation.
ClimateCheck™ analyzes a property's risk from climate change using the latest modeling and data from climate scientists, universities, and federal agencies. Storm risk estimates how much climate change increases the chances of extreme precipitation, when a lot of rain or snow falls in a short time, including thunderstorms, snowstorms, and tropical cyclones. Heat risk estimates how much climate change might increase the typical number of hot days in a year and the likelihood of extreme heat and heatwaves. The average homes sell for about 1% below list price and go pending in around 28 days. The average homes sell for about 2% below list price and go pending in around 35 days. Housing swings affordability the most between places in Virginia, so we broke down the statistics around housing costs into more detail.
McLean, Virginia is a city located just eight miles northwest of Washington, DC. It is situated on the banks of the Potomac River. McLean is considered a suburb of Washington, DC and because of its proximity, it’s well known as a place where members of Congress, military, and government officials live. The headquarters of the United States Central Intelligence Agency is located northern area of McLean in Langley. Click on the risks below to learn which exist in Mclean Hamlet today and how they’ll change by 2050. Flood risk in Mclean Hamlet is increasing slower than the national average.
Our data are calculated and updated every three months for each neighborhood, city and town, approximately two months after the end of the previous quarter. Each quarter, Fannie Mae and Freddie Mac provide their most recent mortgage transactions to the FHFA. These data are combined with the data of the previous 29 years to establish price differentials on properties where more than one mortgage transaction has occurred. These resultant neighborhood appreciation rates are a broad measure of the movement of single-family house prices.
The average effective property tax rate in the state of Virginia is 0.80%, meaning Virginians pay an average of 0.80% of their home value in annual property taxes. The average effective property tax rate in Fairfax County , however, is 1.03%. Though, combined with a statewide local rate of 1%, the effective floor for sales tax in the state is 5.3%. In addition to this rate, many localities impose their own sales tax.
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