Arlington, VA Economic Overview
Northern Virginia’s Arlington county is located on the south bank of the Potomac River. With a population estimated at 230,000, Arlington county is the smallest self-governing county in the United States. Conveniently locates just across the river from the nation’s capital, Arlington can access all the opportunities and influence of Washington, D.C., and yet remain a comfortable low-key neighborhood community.
Ranked #1 on the list of “Best Cities for Millennials” in 2017, there are a lot of opportunities on the Arlington commercial real estate market.
The backbone of Arlington’s economy is largely government work. The proximity to Washington, D.C. grants Arlington access to some of the most powerful and influential organizations in the country, such as the Department of Defense and the Pentagon. Government agencies and government contractors make up the majority of Arlington’s workforce.
Arlington, VA Commercial Real Estate Market
Due to state law regarding population density, Arlington has no incorporated towns within its borders. However, Arlington is broken up into several neighborhoods: Ballston-Virginia Square, Clarendon-Courthouse, Crystal City, Pentagon City, Rosslyn and Shirlington. Pentagon City is home to its famous namesake building. This Arlington neighborhood accommodates several defense-related businesses, including the U.S. Drug Enforcement Administration (DEA), the Transportation Security Administration (TSA), RAND Corporation, and Boeing’s Regional Headquarters. Shopping centers like Pentagon Row and The Fashion Centre at Pentagon City also provide thriving business opportunities.
Clarendon-Courthouse is also home to several government offices, such as the county government administrative complex, which includes a jail, a courthouse, and police headquarters. This neighborhood capitalizes on government use. Courthouse is conveniently located along the Metro line and is home to entities like utilities software company Opower and Strayer University. Exciting new changes are coming to the area along with the “Envision Courthouse Square” project, which plans to bring more commercial opportunity to the neighborhood.
Shirlington has a strong art and entertainment presence that makes it unique. Largely a mixed-use development, the neighborhood blends commercial, residential, and cultural institutions and provides a diverse set of options for commercial investors. Shirlington is undergoing an “economic renaissance” as upscale residential, retail, and service establishments continue to pop up.
The neighborhood of Rossyln is on the cutting edge of development in Arlington. Located just across the Key Bridge from Washington, D.C., Rosslyn is labeled the “gateway” to Arlington and to the Commonwealth of Virginia. The thriving commercial center is home to major businesses such as The Boeing Company, Raytheon, and WJLA-TV.
The Rosslyn commercial real estate market encompasses over 8 million square feet of office space, more than 2,100 hotel rooms, several urban parks, and lots of dining establishments. The Rossyln Center alone has more than 725,000 square feet of office and commercial space and is the largest office building in the neighborhood.
Employment in Arlington, VA
The unemployment rate in Arlington is 4.5%. Top employers that contribute heavily at keeping that percentage low include The Department of Defense, The Department of Homeland Security, Deloitte, The Department of Justice, and the Department of State.
See below the top 5 employment sectors and the percentage of Arlington residents they employ:
- Management, Business, Finance (26.07%)
- Sales, Office, Administrative Support (19.07%)
- Engineering, Computers, Science, (11.49%)
- Education, Library (9.09%)
- Personal Care (4.69%)
Education in Arlington, VA
Roughly 93% of Arlington high school graduates continue onto higher education. There are 71 colleges within 50 miles of Arlington, including Everest College Arlington, Argosy University Washington, D.C., Marymount University, Westwood College Arlington Ballston, and The Art Institute of Washington.
Commuting Time in Arlington, VA
The average commute time in Arlington is 34 minutes, higher than the national average of 24.8 minutes. However, Arlington boasts one of the nation’s best public transportation system. In fact, U.S. News ranked the area is the #4 best place in which to live without a car. About 73% of commuters drive to work and approximately 8% commute by way of public transportation. Remaining commuters get to work by way of walking, biking, or carpooling. The city is very transit oriented and is proud of its public transportation system and general walkability.
- Total Population223,248
- Male Population(49.8 %) 111,264
- Female Population(50.2 %) 111,985
- Median Age34.10
- Average Household Income$154,779
- Median Household Income$107,478
- Median Income Under 25$65,582
- Median Income 25-44$107,543
- Median Income 45-64$134,549
- Median Income Over 65$86,471
CommercialCafé is your first and only stop when it comes to commercial real estate leasings in Arlington, VA. Search through our extensive selection of commercial properties for lease. Discover the right property from our 142 listings by using our advanced search function, which includes search by property type, space availability, management company, lease rates, and more.
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