Market

Learn more about the current state of Tysons’ real estate market across the office, residential, retail, and hospitality sectors.

Office

Office

29.5M

Office Inventory SF

This metric shows the total square footage of existing office space in Tysons. Source: CoStar, Tysons Tracker

Office

4.3M

Total Office SF delivered since 2010

This metric shows the square footage of office space delivered in Tysons since the adoption of the 2010 Tysons Comprehensive Plan. Source: Tysons Tracker, TCA Development Pipeline

Office

22.6M

Maximum Approved Office SF

This metric shows the total square footage of office space approved and unbuilt in Tysons by either CDP, FDP or Site Plan. Source: Tysons Development Pipeline

Office

16%

% Office Inventory that is Trophy

This metric shows the percentage of office space in Tysons that is Trophy quality. Source: Stream Realty Partners

Employment


Annual Employee Visits

Employment


Monthly Employee Visits (Previous 12 Months)

Office

13%

Trophy Office Vacancy

This metric shows the average vacancy rate for a square foot of Trophy quality office space in Tysons. Source: Stream Realty Partners

Office

$63.33

Trophy Office Avg. Asking Rent/SF

This metric shows the average market asking rent for a square foot of Trophy quality office space in Tysons. Source: Stream Realty Partners

Office

20%

Office Vacancy

This metric shows the most recent quarterly average office vacancy rate in Tysons. Source: CoStar

Office

$37.27

Avg. Market Asking Rent/SF

This metric shows the average asking rent for a square foot of office space in Tysons. Source: CoStar

Office

$260

Avg. Market Sales Price/SF

This metric shows the average sales price for a square foot of office space in Tysons. Source: CoStar

Office

63.9K

Net Absorption SF

This metric shows the total net change in office square footage leased by tenants in Tysons in the last quarter. Source: CoStar
Office table and chairs

Residential

Residential

19.5M

Residential Inventory SF

This metric shows the total residential square footage in Tysons. Source: Tysons Tracker

Residential

16k

Residential Inventory Units

This metric shows the total number of existing housing units in Tysons. Source: Tysons Tracker

Residential

1.03M

Residential SF Under Construction

This metric shows the total square footage of residential space under construction in Tysons. Source: TCA Development Pipeline

Residential

972

Units Under Construction

This metric shows the total number of housing units under construction in Tysons. Source: TCA Development Pipeline

Demographic

29K

Total Population

This metric shows the estimated 2023 total population of Tysons using Fairfax County and Census data. Source: Fairfax co. 2023 Market Study

Demographic

4.6%

Projected Avg. Annual Pop. Growth 2023-30

This metric shows the projected average annualized population growth of Tysons between 2023 and 2030. Source: Fairfax co. / 2023 Market Study

Residential

94%

Residential Occupancy

This metric shows the most recent quarterly average residential occupancy rate in Tysons. Source: CoStar

Residential

100%

Units Under Construction that are Affordable (%)

This metric shows the percentage of housing units under construction in Tysons that are affordable. Source: TCA Development Pipeline

Residential

$3.03

Avg. Market Asking Rent per SF

This metric shows the most recent quarterly average rent per square foot for a multi-family residential unit in Tysons. Source: CoStar

Residential

82%

Projected Multi-Family Unit growth by 2033

This metric shows the total % growth projected for multi-family housing units in Tysons by 2033. Source: 2023 Market study

Residential

8M

Total SF of Residential Delivered since 2010

This metric shows the square footage of residential delivered in Tysons since the adoption of the 2010 Comprehensive Plan. Source: Tysons Tracker, TCA Development Pipeline

Residential


Percent Owned and Rented Units

Owned
vs
Rented

Residential


Distribution of Existing Units

Retail

Retail

6M

Retail Inventory SF

This metric shows the total square footage of existing retail space in Tysons. Source: Tysons Tracker

Retail

10K

Retail SF Under Construction

This metric shows the total square footage of retail space under construction in Tysons. Source: TCA Development Pipeline

Retail

$43.72

Avg. Market Asking Rent per SF

This metric shows the average asking rent for a square foot of retail space in Tysons in the most recent quarter. Source: CoStar

Retail

1.8%

Retail Vacancy

This metric shows the most recent quarterly average retail vacancy rate in Tysons. Source: CoStar

Retail


Annual Visitation

Retail


Monthly Visits (Previous 12 Months)

Retail

65%

Origin of Retail Spending

of the $2.4B spent in Tysons emanates from visitors.
This metric shows the percentage of retail sales in Tysons that are generated by visitors. Source: Claritas

Economy

8%

Share of Fairfax County's Total Sales Tax Revenue

This metric shows the percentage of Fairfax County's sales tax revenues that are generated within Tysons. Source: 2024 Net Fiscal Impact Analysis

Retail

345

Total Retail Stores

This metric shows the number of clothing, furniture, electronic, sport/hobby, general merchandise, garden and misc. retail locations in Tysons as of Q2 2023. Source: Data axle/HR&A

Retail

101

Total Restaurants & Bars

This metric shows the number of restaurants and bars in Tysons as of Q2 2023. Source: Data axle/HR&A

Retail

42

Total Entertainment Venues

This metric shows the number of movie theatres, gym/sports facilities, spas, hobby stores, performing arts facilities, book stores, and bowling alleys in Tysons as of Q2 2023. Source: Data axle/HR&A

Retail

7

Total Grocery Stores

This metric shows the number of grocery stores in Tysons in 2024. Source: CoStar/ TCA

Retail

103%

Retail Recovery Index

Compared to Q1 2019
This metric shows the % change of visits to Tysons retail locations between the most recent quarter and the same quarter baseline in 2019. 100% represents the same number of visits this year as 2019. Source: Placer.ai

Hospitality

Hotel

16

Hotel Inventory

This metric shows the current number of operating hotels in Tysons. Source: CoStar

Hotel

3.9K

Number of Hotel Rooms

This metric shows the total number of hotel rooms in Tysons. Source: CoStar

Hotel

94K

Existing Meeting Space SF

This metric shows the total square footage of convening spaces in Tysons. Source: Kalibri Labs

Hotel

69%

Average Occupancy

This metric shows the most recent 2 month average occupancy rate of hotels in Tysons. Data does not cover the last month of the most recent full quarter and will be updated as it becomes available. Source: CoStar

Hotel


Percentage of Hotel Revenues by Type

Hotel

$171.40

Average ADR per night

This metric shows the most recent 2 month average daily rate for all hotel rooms in Tysons. Source: CoStar

Hotel

$107.99

Average RevPAR

This metric shows the most recent 2 month average revenue per available room rate for all hotels in Tysons. Source: CoStar

Hotel

400.8k

Over-Night Trips per Year

This metric comes from the Placer domestic travel and tourism report. The number represents the number of trips by people who traveled from their primary residence to Tysons to visit over night for up to 31 days. Source: Placer.ai

Hotel

-.9%

Over-Night Visitors YoY Change

This metric comes from the Placer domestic travel and tourism report. The percentage is the change from the previous year. Source: Placer.ai

Hotel

+27%

Covid-19 Hotel Recovery

Since 2021
This metric shows the percent increase in average hotel occupancy rates in Tysons compared to the 2021 annual average, the lowest occupancy rate year as a result of the covid-19 pandemic. Source: CoStar