Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 50,773, 17,005 total housing units (homes and apartments), and a median house value of $1,556,410, McLean house prices are not only among the most expensive in Virginia, McLean real estate also is some of the most expensive in all of America.
McLean is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in McLean than is found in 98% of the communities in America.
The large homes that make up McLean are primarily owner-occupied ( 87.19%).
There is a lot of housing in McLean built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in McLean built between 1940-1969 ( 37.10%). A lesser amount of the housing stock also hails from between 2000 and later ( 21.01%). There's also some housing in McLean built before 1939 ( 1.34%).
Some of the lowest real estate appreciation rates in America over the last ten years have been in McLean, where house values have increased just 43.57%, which is annualized rate of 3.68%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
NeighborhoodScout's data show that during the latest twelve months, McLean's appreciation rate, at 7.00%, has been at or slightly above the national average. In the latest quarter, McLean's appreciation rate has been 3.11%, which annualizes to a rate of 13.04%.
Importantly, this makes McLean one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Virginia, our data show that McLean's latest annual appreciation rate is higher than 70% of the other cities and towns in Virginia.
One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within McLean differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in McLean - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best McLean real estate investment or home purchase decisions.
$1,556,410
for Virginia
for nation
17,005
$4,710 / per month