Tysons Corner, a community of about 20,000 residents, is home to shopping mecca Tysons Corner Center, and to a second, more upscale mall called Tysons Galleria, which is located across the street from Tysons Corner Center.
To local residents, Tysons Corner is the area around the intersection of Chain Bridge Rd and Leesburg Pike, which, as recently as the 1950s, was a quiet rural intersection flanked by a few small stores. In recent years, the region has boomed and has a whole new image. The influx of technology companies into Northern Virginia brought many new office buildings and hotels to the Tysons Corner landscape.
As of last year, Tysons Corner had 25.6 million square feet of office space and over four million square feet of retail space, making it an important business district in its own right.
Real estate in this highly sought-after neighborhood is mostly established but not old, having been erected between the 1960s and 1980s. The latter half of the 1990s also saw a construction boom, so some available homes date to that time. In January 2006, the average home in Tysons Corner sold for $923,446. The average home is a single-family unit of two bedrooms, typically in a high rise or apartment complex.
Most properties sell in the range of $650,000 and $1.3 million. Only about a tenth of local real estate sells for less than $650,000, and a decent percentage of it is only available for upwards of $4.3 million.
The community is made up of residents of mixed ages, from young upwardly mobile singles to older families with kids in college. The area has a very low crime rate and offers its residents access to top-notch public K-12 schools. These factors make Tysons Corner an ideal place to live.
The average Tysons Corner dweller is educated, with more than 50 percent of the population having a bachelor's degree or higher – a percentage much higher than the national average. This translates into high incomes: the average household reports an income of roughly $90,000, or much higher than the national average.
Tysons Corner has an unemployment rate that is half the national rate. At the same time, job growth here is three times as strong as nationwide, and projected to outpace the national average even quicker in coming years.
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Tysons Corner, a community of about 20,000 residents, is home to shopping mecca Tysons Corner Center, and to a second, more upscale mall called Tysons Galleria, which is located across the street from Tysons Corner Center.
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