Virginia’s Most Expensive ZIP Codes: A Glimpse Into Affluent Living

Virginia is a state rich in history and natural beauty, always a desirable place to live. In the last few years, the convenience of living close to the Washington, D.C. metro area and steady growth of affluent communities has made parts of the state some of the hottest real estate markets in the United States. A new analysis based on Zillow's home value index and the Census Bureau's 2023 American Community Survey breaks down the priciest ZIP codes in Virginia, at least according to data as of 2024.

The priciest is ZIP code 22066, which includes Great Falls. This scenic region borders the Potomac River and has estates, greenery, and exclusivity. It's a fantastic location for individuals who work in or near D.C., although getting here can sometimes be a little of a stretch. During the last five years, the price of homes in this locality has increased by approximately 50%, from $1.058 million back in November 2019 to $1.571 million in November 2024. Just during the last year increased 6.5%, testifying to the fact that the area continues to remain desirable.

ZIP code 22101 is represented by McLean, which is second on the list. McLean is associated with affluence and prestige because most of its residents are professionals or executives working for government institutions or large corporations. The household income average in this area is $359,152, and it has more than 60% of households earning over $200,000. Property values reflect this richness with the median home value at $1.536 million for 2024, nearly a 40% rise since 2019. Even at the current prices, McLean draws in those looking to lead rich lifestyles.

Adjacent to McLean is ZIP code 22207, a community that carves through sections of Arlington and McLean, areas like Bellevue Forest, Riverwood, and High View Park. With the added cultural and academic appeal of Marymount University, this area has become increasingly popular. Home values rose from just under $1.013 million in 2019 to over $1.316 million in 2024, a 30% increase. The year-over-year growth of 6.6% from November 2023 to November 2024 demonstrates the sustained upward trend in property prices.

Dunn Loring, with ZIP code 22027, is another standout on this list. Situated along the I-495, known as the Capital Beltway, Dunn Loring offers the convenience of being close to several highways and luxury in an affluent community. Median home values were $923,234 in 2019, but they have risen to $1.275 million for 2024, with an appreciation of 38.2%. The value has even increased 6.3% within the last year. This continued appreciation reflects the desirability of the area to high-income professionals who, in many cases, make in excess of $250,000 annually.

Rounding off the top five is Waterford's ZIP code 20197, an agricultural outlying area close to West Virginia. Although it cannot offer the dense population and other urban conveniences its peer group does, Waterford remains a peaceful haven with wide, open properties and panoramic landscapes. In the last five years, home values in this area have jumped dramatically by 61.2%, from $759,473 in 2019 to $1.224 million in 2024. The income figures for Waterford differ from other top ZIP codes because there is less of a gap between the median and average household incomes, showing that the affluence level here is more uniform.

Virginia's most expensive ZIPs reveal the interplay of geography, income, and lifestyle. Even as the closest-in areas to Washington, D.C., continue to dominate home values with prestige, convenience, and economic opportunity, there are even more rural locales, such as Waterford, where the attraction of space and tranquility has been powerful enough to drive significant growth in property values.

This outstanding appreciation is in line with larger trends throughout the state of Virginia, as affluent neighborhoods with desirable amenities and a healthy economy have seen skyrocketing home appreciation. To an investor or someone who may be looking to stay in Virginia, these zip codes represent the very best of what Virginia has to offer, history, culture, and a quality of life second to none. As long as demand continues to outpace supply, there is a very bright future ahead for these high-value areas.