Alexandria, VA holds a treasure trove of opportunities if you're considering investing in property here.
Situated along the picturesque Potomac River, just a stone's throw away from the nation's capital, Alexandria offers a captivating blend of historic charm and modern conveniences.
This article will walk you through everything you need to know about living in Alexandria, VA, from its vibrant neighborhoods to its thriving economy and beyond.
What You Should Know About Living in Alexandria
Alexandria is a city that seamlessly blends small-town charm with big-city services. Located a mere seven miles south of Washington, D.C., it is a magnet for those who appreciate history, culture, and convenience.
With a population of approximately 159,200 as of 2020, Alexandria is influenced by its proximity to the U.S. capital, making it an attractive location for professionals and investors alike.
Its rich history is evident in the many preserved historic buildings that line the streets, offering a glimpse into the past while serving the modern convenience of today. The city's commitment to maintaining its storied history has earned it national recognition as a historic city that attracts history buffs and tourists year-round.
Cost of Living in Alexandria
Living in Alexandria comes with a higher cost of living compared to the national average, clocking in at 34% above the norm.
One of the most significant expenses you'll encounter in Alexandria is housing costs. The median sale price for homes in Alexandria stands at $570,000, a considerable 35% higher than the U.S. median sale price.
However, these elevated costs are often balanced by the city's strong job market, competitive wages, and a plethora of cultural amenities that enhance the quality of life.
For those seeking more affordable housing options, Alexandria offers non-profit developments and creative solutions to cater to households of every kind.
Whether you're an investor or a property owner, understanding the housing market dynamics in Alexandria is crucial for making informed decisions.
Neighborhoods and Communities
Alexandria boasts a diverse array of neighborhoods, each with its own unique character and charm.
Old Town
One of the standout areas is Old Town Alexandria, known for its vibrant waterfront, cobblestone streets, and an eclectic mix of shops and restaurants. It's a place where history meets modernity, providing residents with a sense of community and connection.
Del Ray
Another delightful neighborhood is Del Ray, characterized by its boutique shops and local eateries. Residents here enjoy a laid-back atmosphere and a strong sense of community.
West End
The West End offers a mix of old and new homes, providing a charming backdrop for those seeking a more traditional living experience.
In addition to these neighborhoods, Alexandria is home to popular community spaces like Lyon Village Park and Fort Scott Park, where residents can enjoy outdoor activities and connect with nature.
Job Market and Economy
Alexandria's economy is thriving, thanks in part to the presence of government employers such as the U.S. Department of Defense and the Institute for Defense Analyses. Independent and technology enterprises also have a significant presence, contributing to the city's economic vitality.
International organizations, including the Salvation Army National Corporation and United Way Worldwide, have chosen Alexandria as their base, further enhancing the city's status as a hub for diverse industries.
The National Science Foundation, headquartered in Alexandria, adds to the city's reputation as a center for research and innovation.
This strong job market is a significant draw for professionals and investors seeking stability and growth opportunities.
Education and Schools
Education is a priority in Alexandria, with the Alexandria City Public Schools district serving over 16,000 students from preschool to grade 12. Alexandria residents benefit from a range of educational institutions, including one preschool, 12 elementary schools, two middle schools, and one high school. Furthermore, over 200 schools exist in the greater Alexandria region.
For residents with an Alexandria address who reside in Fairfax County, students attend schools within the Fairfax County School District, ensuring access to quality education options.
The presence of institutions like Stratford University and Strayer University further enriches the learning landscape.
Things to Do and See
Alexandria is also a place brimming with activities and attractions for residents and visitors alike.
Old Town Alexandria
Historic Old Town Alexandria, with its cobblestone-lined streets and historical significance, is a must-visit destination. Here, you can explore charming boutiques, dine at renowned restaurants, and take in the city's rich history.
George Washington Memorial Parkway
The George Washington Masonic National Memorial is another notable landmark that offers breathtaking views of the city. Alexandria's arts scene thrives with numerous galleries and performance venues, showcasing a diverse range of talents and creative expressions.
Potomac River
Outdoor enthusiasts will appreciate the beautiful views of the Potomac River and the George Washington Memorial Parkway, offering opportunities for walking, biking, and picnicking.
Transportation and Commuting
Alexandria's strategic location provides excellent connectivity to the D.C. area and beyond. The Metro rail service connects Alexandria to the nation's capital, making commuting to work a breeze.
Public transportation is readily available, with a commute time of 30-45 minutes to major employment centers.
Many residents opt to walk or bike instead of driving, thanks to the city's superb transit system and a transit score of 66. This commitment to public transportation and walkability enhances the quality of urban living in Alexandria.
History and Culture
With roots dating back to 1669, Alexandria is one of the oldest settlements in North America, boasting a rich history that is woven into the fabric of the city.
Its historic appeal is evident in the preservation of historic sites and buildings, which serve as a testament to its storied past.
The city celebrates its diverse culture through various festivals and events, allowing residents to experience different traditions and cuisines.
This blend of history and modernity creates a unique atmosphere that makes Alexandria a captivating place to live.
Community and Lifestyle
Alexandria is a diverse city that welcomes residents from all walks of life. The strong sense of community is reflected in the numerous community events and activities that bring people together.
The city's parks and outdoor spaces, including Lyon Village Park and Fort Scott Park, provide opportunities for recreation and relaxation.
Alexandria offers a lifestyle that seamlessly blends historic allure with modern amenities, making it an appealing destination for property owners and investors seeking a vibrant community.
Real Estate and Housing
The real estate market in Alexandria is dynamic, with a median home cost of around $542,000, significantly higher than the state's average of $258,000. Renting in Alexandria can also be expensive, with studio apartments averaging $1,665 per month.
Property owners may need to consider separate flood insurance due to the city's proximity to the Potomac River, a high-risk area for flooding. Despite the costs, Alexandria's property values continue to appreciate, making it an attractive investment opportunity.
Alexandria, Your Next Home
Alexandria, Virginia, offers a unique blend of historic charm, economic vitality, and modern conveniences that appeal to property investors, landlords, and homeowners.
From its vibrant neighborhoods and robust job market to its rich history and diverse culture, Alexandria provides a wealth of opportunities for those looking to invest or settle down in this historic city.
Whether you're drawn to the waterfront allure of Old Town Alexandria or the community spirit of Del Ray, Alexandria has something to offer everyone. If you're considering investing in Alexandria, we at Century 21 Accent Homes will help you explore this thriving city and discover the endless possibilities it holds.
