22033, Fairfax, VA

Fairfax, VA is located in Northern Virginia and has a population of over 1 million people. The 22033 zip code covers parts of Fairfax County, including the cities of Falls Church, McLean, Vienna, and Reston. Home prices in the 22033 zip code have increased significantly over the past few years, with median home prices reaching $1.2 million as of September 2017.

One reason for this increase in home prices is that Fairfax County has one of the highest median incomes in the country. Additionally, there is a large number of affluent residents living in the 22033 zip code who are able to afford high-priced homes. In addition to affluent residents, many businesses located in Fairfax County are also able to afford high home values due to their strong profits and healthy stock prices.

Despite these positive factors contributing to increased home values in the 22033 zip code, there are some potential risks associated with this trend as well. One potential risk is that if interest rates rise or if economic conditions decline significantly, then many homeowners may find it difficult to sell their homes at current prices. Another potential risk is that if more people decide to move into the 22033 zip code or if demand for housing decreases suddenly due to changing economic conditions, then prices could drop significantly.