Fredericksburg, VA
Population 28,383 · Virginia
About Fredericksburg, VA
Fredericksburg is a mid-sized city located in Virginia with a population of 28,383 residents according to the latest US Census Bureau American Community Survey data. The median household income is $85,368 per year, which is 14% above the national median of $75,149. The median age of 31 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Fredericksburg features a median home value of $461,500, which is 88% above the national median of $244,900. This places Fredericksburg in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $1,521, 31% above the national average of $1,163/month. Of the 12,308 total housing units, 42% are owner-occupied (4,756 units) and 58% are renter-occupied (6,687 units). The higher proportion of renters may reflect a transient population, younger demographics, or high housing costs relative to income.
Economy & Employment
The local economy in Fredericksburg shows an unemployment rate of 4.6%, which is near the national rate of 3.7%. The poverty rate stands at 16.4%, above the national average of 12.4%. Workers in Fredericksburg have an average one-way commute time of 32.7 minutes.
Education & Demographics
46.8% of Fredericksburg residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 3.2% White, 2.3% Hispanic or Latino, 1.1% Black or African American, and 8.0% Asian residents, with 12.3% of the population being foreign-born.
How Fredericksburg Ranks in Virginia
Cost of Living in Fredericksburg, VA
Compared to national averages, Fredericksburg has a median household income of $85,368 (14% above the national median of $75,149). Home values average $461,500, which is 88% above the national median. Monthly rent at $1,521 is 31% above the US average of $1,163. Within Virginia, Fredericksburg's income is 3% below the state average of $87,957, and home values are 41% above the state median of $327,514.
Why Live in Fredericksburg, VA?
Fredericksburg offers a strong local economy with a median household income of $85,368, well above the national average, and a well-educated community where 46.8% of residents hold a bachelor’s degree or higher.
Potential considerations include a competitive housing market where the typical home costs $461,500. However, Fredericksburg’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Fredericksburg has a population of 28,383 with a median age of 31 years. Compare Fredericksburg with other cities to see how it stacks up, or explore all cities in Virginia.
Similar Cities Near Fredericksburg
Cities in Virginia with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Short Pump | 28,177 | $132,194 | $543,000 | Compare |
| Tysons | 28,022 | $129,189 | $640,500 | Compare |
| Winchester | 27,981 | $64,648 | $325,900 | Compare |
| West Falls Church | 30,660 | $131,236 | $658,700 | Compare |
| Cave Spring | 26,014 | $85,314 | $296,700 | Compare |
| Springfield | 30,894 | $123,691 | $622,200 | Compare |
| Staunton | 25,765 | $62,586 | $239,300 | Compare |
| Sterling | 31,251 | $125,753 | $508,400 | 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.
Compare Fredericksburg With Other Cities
Frequently Asked Questions about Fredericksburg
What is the population of Fredericksburg, VA?
The population of Fredericksburg, VA is 28,383 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Virginia.
What is the median household income in Fredericksburg?
The median household income in Fredericksburg, VA is $85,368 per year, which is 14% above the national median of $75,149.
What is the median home value in Fredericksburg?
The median home value in Fredericksburg, VA is $461,500, which is 88% above the national median of $244,900. A significant portion of residents rent their homes.
What is the average rent in Fredericksburg?
The median monthly rent in Fredericksburg, VA is $1,521, which is 31% above the national average of $1,163/month.
What is the unemployment rate in Fredericksburg?
The unemployment rate in Fredericksburg, VA is 4.6%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Fredericksburg, VA a good place to live?
Fredericksburg offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 28,383 and a median age of 31, the city appeals to young professionals and families.
How educated is Fredericksburg, VA?
46.8% of residents in Fredericksburg aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Fredericksburg?
Key cost-of-living indicators for Fredericksburg, VA: median home value is $461,500 (88% above national), median rent is $1,521/month, and median household income is $85,368. The home-value-to-income ratio is 5.4x, a moderate figure by national standards.
What is the poverty rate in Fredericksburg?
The poverty rate in Fredericksburg, VA is 16.4%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Fredericksburg, VA?
Fredericksburg's population is 3.2% White, 2.3% Hispanic or Latino, 1.1% Black or African American, 8.0% Asian, and 19.8% two or more races. 12.3% of residents are foreign-born.