Average Single-Family Home Assessment Hits $1 Million In Alexandria

ALEXANDRIA, VA — The average single-family home assessed value has topped $1 million in the City of Alexandria, according to the latest real estate assessment data. Residential property value collectively is increasing, while only some commercial property types saw an overall decrease.

Real estate assessment data will be presented to Alexandria City Council on Feb. 11. According to the upcoming city staff presentation to City Council, the overall taxable property increased by 2.54 percent, or $1.2 billion. Appreciation of existing properties accounted for $1.13 billion of that increase, along with $363.88 million of new growth.

The annual real estate assessment data factors into future real estate tax bills along with the tax rate set by City Council during the budget process. Once property owners receive their assessments, they can dispute it by requesting a review from the Office of Real Estate Assessments by March 17 or file an appeal with the Board of Equalization by June 2. Elderly and disabled tax relief applications are due by April 15.

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The city noted its property assessment increases this year are largely driven by appreciation of residential properties. Overall, the residential tax base increased by 4.55 percent, or $1.4 billion. The average single-family home value is $1,001,336, up 4.06 percent from $962,276 in 2024. Condominium values average $447,612, up 5.63 percent from $423,765 in 2024.

Meanwhile, the commercial tax base overall fell by 0.88 percent, or $156.4 million. Office buildings had the highest decline — 10.28 percent. Apartment values overall fell by 1.11 percent.

However, hotels had the highest value increase — 20.05 percent. Other increases were 4.91 percent for shopping centers, 4.94 percent for general commercial and 0.10 percent for warehouses.

City officials have noted ongoing challenges with residential property owners bearing a large share of the tax burden. Single-family and condominium properties account for 62.75 percent of the tax base. Multifamily residential rentals make up 19.23 percent of the tax base, while commercial, office and retail combined make up 15.42 percent.

Some recently completed and under-construction projects will contribute to the city's tax base. In Old Town and Old Town North, completed projects include the 133-independent living unit Alate Old Town, The Heron Hotel and 12-unit 1229 King Street. Projects under construction are the 94-unit Aidan Condominium, 6-townhouse River Row, 210-unit CityHouse with retail, 234-unit Tidelock with arts and restaurant uses, 78-unit The Whitley Condominium, 24-unit The Mansly with retail, 237-unit 425 Montgomery Street with restaurant, retail and arts uses, 136-unit 1201 E. Abingdon Drive and 598-unit The Heritage. Commercial-to-residential conversions will include the 331-unit Montgomery Center with retail and arts uses, 50-unit 301 N. Fairfax Street, 14-townhouse Old Town Square and 12-unit 720 N. St. Asaph Street. In addition, 112 N. Washington Street will become The Linder Academy.

In Potomac Yard and Oakville Triangle, completed projects are the 325-unit Raeburn, 247-unit Ives, Inova Oakville medical facility and Virginia Tech Innovation Campus building. Projects under construction are the 85-townhouse Del Ray Corner at Oakville, 160-independent living unit The Landing and blocks C1 and C2 with future townhouses at Oakville Triangle. Block 15 with 212 multifamily units and Block Block 19 with 262 multifamily units are on hold.

In Del Ray and Center City, completed projects are the 4-single-family home Franklin Hills, Lindsay Lexus, Lindsay Vovlo and Lindsay Cadillac. Sanse and Naja, a 475-affordable unit project, is under construction.

In Carlyle and Eisenhower East, the 443-unit Meridian was completed, and no future projects are in the pipeline.

In the West End, the massive WestEnd Alexandria mixed-use development is under construction at the former Landmark Mall. That includes the 390-unit The Brightley with retail, 337-unit Thrive with retail, and 390-unit blocks E and G with medical and retail uses. Other West End projects under construction or being planned are the 88, two-over-two unit and 362-multifamily unit Landmark Overlook with hotel or medical use, 139-townhouse The Hensley and The Cameron at Eisenhower Pointe, 377-unit and 139-townhouse condominium Victory Center conversion, and 31-townhouse and 8-condo Seminary Road Townhouses. Recently completed projects are the 89-assisted living and 26-memory care unit Benchmark Senior Living and 118-unit Essen.