Table of Content
The median home cost of living in McLean, Virginia is $926,900. However, this does not cover other living costs, such as child care, utilities, groceries, and taxes. With a cost of living index of 203.0, it is considerably more expensive than the US average of 100.0 and Virginia’s overall 103.7 cost of living index. Homes in McLean receive 1 offers on average and sell in around 35 days. The average sale price of a home in McLean was $1.3M last month, up 2.4% since last year. The average sale price per square foot in McLean is $409, up 8.8% since last year.
Local real estate agents are ready to help you find a home here. Work with a top McLean real estate agent to figure out the best selling strategy and start bidding wars on your home. Homes in McLean are staying on the market for 0 days on average.
Neighborhood Housing Markets
Check out HomeLight’s Quarterly Top Agent Insights report, a national survey of over 500 top real estate agents. Hear what agents are saying across the country and make smarter decisions when buying or selling a home. Relative to Virginia, our data show that McLean's latest annual appreciation rate is lower than 90% of the other cities and towns in Virginia.
A cost of living index allows you to compare what it costs to live in one place against another, revealing how far your money will go in different areas. Scores are presented in relation to the national average of 100. If a place’s COL index is below 100, it’s cheaper than the national average. If it’s over 100, it’s more expensive than the national average.
Mclean SnackAbility
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.
However, this does not cover costs or room and board, or any textbook fees. Activity Price RangeRestaurants (2 people/mid-range)$70.00Fitness Club $90.00Movies $13.00Depending on where and when you go, activities fees will vary. There can always be extra expenses with activities, depending on the time of day, day of the week, number of people attending, etc. There may be certain places that do not include garbage, and you will have to find your way to dispose of your trash. Some places will cover this cost, but you must provide your garbage cans that still need to meet community requirements.
Rentals
Different neighborhoods within a city or town can have drastically different home appreciation rates. Our data are built upon median house values in each neighborhood, and combine data from the United States Bureau of the Census with quarterly house resale data. The data reflect appreciation rates for the neighborhood overall, not necessarily each individual house in the neighborhood. 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. Mortgages on properties financed by government-insured loans, such as FHA or VA mortgages, are excluded, as are properties with mortgages whose principal amount exceeds the conforming loan limit.
In Fairfax County, for instance, the extra city and county sales tax rates total 1.70%. This means that the total sales tax rate in McLean, Virginia is 6.0%. Owning a home in McLean is comparatively slightly more expensive than in other areas of the country. Most homes in Virginia cost around $307,964, while living in McLean costs approximately $926,900.
Food & Grocery Costs in McLean, Virginia
Mortgage transactions on condominiums or multi-unit properties are also excluded. As such, NeighborhoodScout does not produce appreciation rates for neighborhoods that consist solely of renters or have no single-family homes . Over the last year, McLean appreciation rates have trailed the rest of the nation.
It's also important to consider median household incomes to make apples-to-apples comparisons across locations. Work with a top McLean real estate agent who can help you navigate the market and get the best deal. Something we sometimes overlook when moving to a new area is the cost of food. Grocery shopping is something most of us do weekly, and sometimes monthly. Virginia has a progressive income tax system, with four income tax brackets in total that range from 2% to 5.75%.
This city had 71 entries in the past 12 months by 9 different contributors. Members receive 10 FREE city profile downloads a month, unlimited access to our detailed cost of living calculator and analysis, unlimited access to our DataEngine, and more. Our cost of living indices are based on a US average of 100. An amount below 100 means McLean is cheaper than the US average. A cost of living index above 100 means McLean, Virginia is more expensive. We use data, analytics, and a sense of humor to determine quality of life for places across the nation.
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.
The average price of a home in the US is $284,600, so McLean is approximately 325% higher than the national average. Visit our Buyer Resource Center for the latest home buying advice from top real estate agents across the country. In McLean, the average cost of full-time daycare per week is $638.
In the last twelve months, McLean's appreciation rate has been 6.98%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in McLean were at 2.26%, which equates to an annual appreciation rate of 9.34%. Neighborhood appreciation rate data are based on transactions involving conforming, conventional mortgages. Only mortgage transactions on single-family properties are included. Conventional means that the mortgages are neither insured nor guaranteed by the FHA, VA, or other federal government entity.
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.
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