Fair Lakes, VA
Population 8,617 · Virginia
About Fair Lakes, VA
Fair Lakes is a small community in Virginia with a population of 8,617 residents. The median household income is $130,789 per year, which is above the national average. The median age in Fair Lakes is 40.2 years.
Housing in Fair Lakes has a median home value of $575,500 and median monthly rent of $2,325. Of the 3,643 total housing units, the majority are owner-occupied, with 2,223 owner-occupied and 1,388 renter-occupied units.
The unemployment rate in Fair Lakes is 2.9% and the poverty rate is 5.7%. 65.8% of residents hold a bachelor's degree or higher. The average commute time is 32.2 minutes.
Cost of Living in Fair Lakes, VA
Compared to national averages, Fair Lakes has a median household income of $130,789 (74% above the national median of $75,149). Home values average $575,500, which is 135% above the national median. Monthly rent at $2,325 is 100% above the US average of $1,163. Within Virginia, Fair Lakes's income is 49% above the state average of $87,957, and home values are 76% above the state median of $327,514.
Why Live in Fair Lakes, VA?
Fair Lakes offers a strong local economy with a median household income of $130,789, well above the national average, and a strong job market with an unemployment rate of just 2.9%, and a well-educated community where 65.8% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 5.7%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $575,500. However, Fair Lakes’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Fair Lakes has a population of 8,617 with a median age of 40.2 years. Compare Fair Lakes with other cities to see how it stacks up, or explore all cities in Virginia.
Similar Cities Near Fair Lakes
Cities in Virginia with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Montrose | 8,624 | $45,063 | $170,000 | Compare |
| Hollymead | 8,566 | $121,795 | $413,700 | Compare |
| Innsbrook | 8,559 | $130,534 | $445,600 | Compare |
| Smithfield | 8,729 | $110,182 | $358,100 | Compare |
| Bellwood | 8,489 | $50,172 | $192,600 | Compare |
| Dunn Loring | 8,782 | $236,563 | $935,000 | Compare |
| Dumbarton | 8,407 | $59,085 | $274,700 | Compare |
| Rockwood | 8,834 | $90,804 | $312,500 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Virginia
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Fair Lakes
What is the population of Fair Lakes, VA?
The population of Fair Lakes, VA is 8,617 according to the latest Census data.
What is the median household income in Fair Lakes?
The median household income in Fair Lakes, VA is $130,789 per year.
What is the median home value in Fair Lakes?
The median home value in Fair Lakes, VA is $575,500.
What is the average rent in Fair Lakes?
The median monthly rent in Fair Lakes, VA is $2,325.
What is the unemployment rate in Fair Lakes?
The unemployment rate in Fair Lakes, VA is 2.9%.