Summary answer: On a $100,000 household income, standard lending guidelines put your realistic purchase price around $300,000–$350,000 — below the City of Fairfax's own median, which recent readings put at $717,000-$775,000. This is a genuine stretch here, and the city's condo market is your realistic path.
I'm Johnny with JQ Real Estate. Let me give you the honest picture of what this budget actually gets you in Fairfax.
The math, and why it's a real gap here
| Step | Estimate |
|---|---|
| Gross monthly income ($100K/yr) | $8,333 |
| Target housing payment (28% front-end ratio) | ~$2,333/mo |
| Realistic purchase price (10% down, current rates ~6.65%) | ~$300,000–$330,000 |
| Realistic purchase price (VA loan, 0% down) | ~$350,000–$390,000 |
Why this doesn't quite reach the City of Fairfax's price floor
The city's own condo inventory ($250,000-$450,000 in the broader area) offers the most realistic path at this income level, given the city's single-family and townhome inventory running well above this range.
What changes your number
- Loan type — a VA loan removes the down payment requirement, meaningfully expanding your range
- Second income — if this is a household decision, the math roughly doubles
Get your actual number
Reach out and I'll connect you with a lender for a real pre-approval and help you figure out whether the City of Fairfax fits your budget.
For more Fairfax buyer and seller questions, visit our Fairfax real estate hub.