What does this mean for Arlington Real Estate?
The US Census Bureau released new statistics that show that the population in Arlington is up 14.4% from 2010 to 2018. This is more than double the increase statewide and nationally.
This, of course, correlates with the low inventory and tight housing market in Arlington, as a higher population creates more demand. This also means that investment properties in Arlington can bring in higher returns.
The data also shows that the majority of the population is between the ages of 18-65. The median household income is $112,138, with 21% of households making more than $200,000 per year.
A rising population of young, affluent people places a premium on single-family homes. This has contributed to the fierce competition and rising prices in this category.
With the new Amazon headquarters coming soon, the population could soon rise at an even faster pace, tightening the market further. But this has not happened noticeably yet.
If you would like a free consultation on the Arlington Real Estate market, please contact Geva and Jane today!