Fairfax City Ranks Among Wealthiest In Virginia Based On 3 Factors

FAIRFAX CITY, VA — Fairfax City residents overall can be considered among Virginia's wealthiest localities, according to a new study from SmartAsset.

SmartAsset, a financial advice resource, based its ranking of residents' wealth by locality on three factors: investment income per capita, median home value and per capita income. For the investment income factor, the study evenly weighed ordinary Dividends, qualified dividends and net capital gains in the score. Data comes from the IRS, National Association of Realtors, and Bureau of Economic Analysis.

"We calculated a Wealth Index for all U.S. counties based on a combination of these three metrics and ranked them accordingly to provide a holistic view of what areas of the U.S. are accumulating the most wealth," SmartAsset's study page states.

Fairfax City came in fourth in Virginia with a wealth index of 38.46 based on the three factors. The city's investment income per capita ($10,992) was lower than that of Fairfax County ($17,654) and (Falls Church City ($23,899) and it ranked 40th when it came to per capita income ($116,979). However, its median home value of $664,495 was the fifth highest in Virginia.

The top 10 wealthiest localities as ranked by SmartAsset are:

• Falls Church City
• Arlington County
• Fairfax County
• Fairfax City
• Goochland County
• Alexandria City
• Loudoun County
• Prince William County
• Albemarle County
• Fauquier County

See how Virginia localities rank on wealth here.