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Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. This home sale information is not to be construed as an appraisal and may not be used as such for any purpose. Enhanced Cost of Living CalculatorNow includes childcare, taxes, health, housing for home owners vs renters, insurance costs and more when you upgrade to premium. McLean, VA has a lot to offer young professionals, families, and retirees and is a very desirable place to live.
Low earners pay lower marginal rates, with the top bracket starting at $17,000 in taxable income. This means that most taxpayers in McLean, Virginia will have to pay the top rate of 5.75% of at least a portion of their income. Virginia’s minimum wage is $7.25 an hour, while the livable wage is $19.92 an hour. Many people will have a range of pay bases to help them afford living in McLean. Here’s a breakdown of precisely what you might spend to live monthly in McLean, Virginia.
Median Sold Price By Bedroom Count
To be comfortable, you will need to make at least $86,000 a year. This means you would need to make $7,166 a month to live on your own in McLean. On average many of the teachers have 16 kids per class and spend about $8,371 per student. However, that does not mean you have to pay that amount; it means that’s what it costs the school.
Copyright 2022 Bright MLS, Inc. (/info/mls-disclaimers/#mls_5632) The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed. In November 2022, McLean home prices were up 2.0% compared to last year, selling for a median price of $1.3M. On average, homes in McLean sell after 26 days on the market compared to 48 days last year. There were 35 homes sold in November this year, down from 65 last year. The predominate size of homes in the city based on the number of bedrooms.
Homeownership Costs in McLean, Virginia
ClimateCheck™ analyzes a property's risk from climate change using the latest modeling and data from climate scientists, universities, and federal agencies. Storm risk estimates how much climate change increases the chances of extreme precipitation, when a lot of rain or snow falls in a short time, including thunderstorms, snowstorms, and tropical cyclones. Heat risk estimates how much climate change might increase the typical number of hot days in a year and the likelihood of extreme heat and heatwaves. The average homes sell for about 1% below list price and go pending in around 28 days. The average homes sell for about 2% below list price and go pending in around 35 days. Housing swings affordability the most between places in Virginia, so we broke down the statistics around housing costs into more detail.
It may be more expensive than other areas of Virginia to live in, but it is providing excellent schools, good housing options, and proximity to the nation’s capital. Depending on the size of the house you choose and the size of your family, it may be expensive or cheaper than other areas of Virginia, so you’ll want to keep that in mind when choosing where to live. Child care is a part of daily life that many people don’t talk about or think about because it just has to be done.
McLean Cost Of Living Vs. Virginia
Here are some other things to keep in mind when looking at education costs in McLean. Can sell for about 7% above list price and go pending in around 5 days. It’s a place to connect with a local agent, explore financing solutions, schedule home tours, understand your buying and selling power, and more. Flood risk data is provided by Risk Factor™, a product of the nonprofit First Street Foundation. Risk Factor™ is a peer reviewed scientific model, designed to approximate flood risk and not intended to include all possible risks of flood.
Stratford University is a private technical college three miles from McLean’s city center. Northern Virginia Community College is also an excellent option for many locals. If you are thinking of attending a University or a technical college, this may be a budget-friendly option compared to other states. Zillow's metrics aim to inform and support the decision-making process with relevant market data by measuring monthly market changes across various geographies and housing types.
Entertainment Costs in McLean, Virginia
The average effective property tax rate in the state of Virginia is 0.80%, meaning Virginians pay an average of 0.80% of their home value in annual property taxes. The average effective property tax rate in Fairfax County , however, is 1.03%. Though, combined with a statewide local rate of 1%, the effective floor for sales tax in the state is 5.3%. In addition to this rate, many localities impose their own sales tax.
According to the most recent data on the cost of living, McLean has an overall cost of living index of 220 which is 2.2x higher than the national index of 100. The cost of living index is set to 100 for the average place in America. An index above 100 means McLean is expensive, while a number below 100 means it's a relatively cheap place to live. Save this search to get email alerts when listings hit the market. Visit our Seller Resource Center, backed by top agents, data analysis, and rigorous research. Here’s what you can do next with your housing market report.
Drought risk is based on water stress, which estimates how much of the future water supply will be used for human purposes, like watering the lawn. Percentages are based on the number of housing units for each type over the total number of units across all types. The percentage of housing units in the city that are occupied by the property owner versus occupied by a tenant . If you’re searching for a home to purchase in McLean and Fairfax County, or any county throughout Northern Virginia, visit . If you're buying a home in McLean, you may be able to get a good deal.
This information is obtained by reviewing repeat mortgage transactions on single-family properties whose mortgages have been purchased or securitized by Fannie Mae or Freddie Mac . Then proprietary algorithms developed by Dr. Schiller, NeighborhoodScout's founder, are applied to produce neighborhood appreciation rates. Appreciation rates are updated by NeighborhoodScout each quarter as additional mortgages are purchased or securitized by Fannie Mae and Freddie Mac. The new mortgage acquisitions are used to identify repeat transactions for the most recent quarter, then are fed into NeighborhoodScout's search algorithms. Our data are designed to capture changes in the value of single-family homes at the city, town and even the neighborhood level.
Get cash offers with HomeLight Simple Sale, the fastest way to sell your home. If you’re looking to live in the metro Washington, DC/Northern Virginia area, McLean is hard to beat. McLean is an enjoyable area to visit with nightlife and activities if you are a single person. If you become a Virginia resident who attends Northern Virginia Community College annually, you will spend around $5,610 for tuition alone.
Fire risk estimates the risk of wildfires, based on the likelihood of burning in the future and the potential size and severity of a fire. Click on the risks below to learn which exist in McLean today and how they’ll change by 2050. Flood risk in McLean is increasing slower than the national average. No racist, discriminatory, vulgar or threatening language will be tolerated. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Secure your position in the market with a mortgage from Rocket Mortgage®, our sister company.
Cost of Living in McLean
McLean, Virginia is a city located just eight miles northwest of Washington, DC. It is situated on the banks of the Potomac River. McLean is considered a suburb of Washington, DC and because of its proximity, it’s well known as a place where members of Congress, military, and government officials live. The headquarters of the United States Central Intelligence Agency is located northern area of McLean in Langley. Click on the risks below to learn which exist in Mclean Hamlet today and how they’ll change by 2050. Flood risk in Mclean Hamlet is increasing slower than the national average.
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