Fair Lakes CDP, VA Profile: Facts & Data

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Fair Lakes CDP, Virginia - Basic Facts

The Fair Lakes Census Designated Place had a population of 8,556 as of July 1, 2020. Fair Lakes CDP ranks in the upper quartile for Population Density and Diversity Index when compared to the other cities, towns and Census Designated Places (CDPs) in Virginia. See peer rankings below.

The primary coordinate point for Fair Lakes CDP is located at latitude 38.8531 and longitude -77.3885 in Fairfax County. The formal boundaries for the Fair Lakes Census Designated Place encompass a land area of 2.37 sq. miles and a water area of 0.02 sq. miles.

The Fair Lakes Census Designated Place (GNIS ID: 2584844) has a U2 Census Class Code which indicates a census designated place without an official federally recognized name. It also has a Functional Status Code of "S" which identifies a statistical entity.


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Fair Lakes CDP, VA Data & Demographics (As of July 1, 2020)

POPULATION

Total Population 8,556 (100%)
Population in Households 8,480 (99.1%)
Population in Families 6,464 (75.5%)
Population in Group Quarters1 76 ( 0.9%)
Population Density 3,614
Diversity Index2 70
 
 

INCOME

Median Household Income $115,904
Average Household Income $157,450
% of Income for Mortgage4 18%
Per Capita Income $63,186
Wealth Index5 183
 

HOUSING

Total HU (Housing Units) 3,542 (100%)
Owner Occupied HU 2,281 (64.4%)
Renter Occupied HU 1,140 (32.2%)
Vacant Housing Units 122 ( 3.4%)
Median Home Value $487,437
Average Home Value $536,574
Housing Affordability Index3 134
 

HOUSEHOLDS

Total Households 3,420
Average Household Size 2.48
Family Households 2,014
Average Family Size 3
NOTES
  1. Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
  2. The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
  3. The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
  4. The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
  5. The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.

GROWTH RATE / YEAR

2010-2020 2020-2025
Population 0.73% 0.45%
Households 0.6% 0.4%
Families 0.65% 0.36%
Median Household Income   1.49%
Per Capita Income   1.76%
Owner Occupied HU   0.63%

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Fair Lakes CDP, VA - Peer Comparisons by Rank and Percentile

The table below compares Fair Lakes CDP to the other 593 incorporated cities, towns and CDPs in Virginia by rank and percentile using July 1, 2020 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description Rank Percentile
Total Population # 139 77th
Population Density # 70 88th
Median Household Income # 73 88th
Housing Affordability Index # 135 23rd
Per Capita Income # 39 94th
Diversity Index # 79 87th

Additional comparisons and rankings can be made with a VERY EASY TO USE Virginia Census Data Comparison Tool.

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