22306, Alexandria, VA

The 22306 zip code of Alexandria, VA has a median home value of $247,000. This is higher than the median home value in the United States as a whole, which is $177,500. The 22306 zip code also has a high percentage of homeownership (79%), which is higher than the national average of 63%. This high percentage of homeownership may be attributable to the fact that Alexandria is a relatively affluent city.

One reason that the 22306 zip code has a high home value is that there are many expensive homes in this area. For example, the median price per square foot for homes in this zip code is $269, which is more than double the national average of $119. In addition, there are many luxury homes in this area as well. For example, one luxury home in this zip code has a price tag of $2 million.

Another reason that the 22306 zip code has a high home value is because there are many houses that have been recently built or renovated. For example, about one-third (34%) of all homes in this zip code were built within the last five years and about one-quarter (26%) were renovated within the last five years. These renovations may have increased the value of these homes by adding features such as larger rooms or better insulation.

Despite having a high home value, it should be noted that not everyone in the 22306 zip code can afford to buy or rent an expensive house or live in a luxury apartment complex. About one-third (33%)of all households in this zipcode earn less than $50k per year and about half (51%)of all households earn less than $75k per year. Thus, although most people living in this area have enough money to buy or rent an expensive house or apartment complex, not everyone does.