Waterford Square Condominiums
Historical Context: From Colonial Fairfax to Modern Condominium Living
Fairfax County’s history stretches back to its establishment in 1742, named after Thomas Fairfax, 6th Lord Fairfax of Cameron, the only British noble to reside in the American colonies. Initially a rural expanse along the Potomac River, the county was home to prominent figures like George Washington, whose Mount Vernon estate lies to the southeast, and George Mason, whose Gunston Hall is nearby. The area’s early settlements were tied to agriculture and river trade, but its proximity to the nation’s capital—ceded in part to form Alexandria County (now Arlington) in 1789—set the stage for its transformation.
The specific history of Waterford Square Condominiums is less documented than that of the county itself, as individual condo developments often lack the archival prominence of larger estates or towns. However, its development aligns with Fairfax County’s post-World War II suburban boom. The mid-20th century saw an influx of returning veterans, supported by the GI Bill, who fueled a housing surge on the outskirts of American cities. Fairfax, with its proximity to Washington, D.C., became a prime location for this expansion. The 1950s and 1960s marked a period of rapid residential growth, with single-family homes dominating the landscape. Condominiums like Waterford Square likely emerged later, in the 1970s or 1980s, as developers responded to increasing demand for denser, more affordable housing options amid rising land costs and a growing professional workforce.
Waterford Square’s location in Fairfax County places it within a region shaped by significant infrastructural and economic milestones. The opening of Tysons Corner Center in 1968, just a few miles from many Fairfax condo developments, spurred the rise of Tysons as a commercial hub, drawing residents to nearby areas. The technology boom of the late 20th and early 21st centuries further accelerated growth, with Fairfax County becoming a magnet for high-tech workers and government contractors. While Waterford Square itself lacks a specific historical marker—unlike Belvoir Manor or Falls Church Airpark, which closed in 1960—its existence is a product of these broader shifts, reflecting the county’s transition from rural estates to a suburban patchwork of homes, condos, and business districts.
Demographics: A Diverse and Affluent Community
The demographic profile of Waterford Square’s residents is best understood through the lens of Fairfax County, as specific condo-level census data is not publicly isolated. As of 2023, Fairfax County boasted a population of approximately 1.14 million, with a median age of 38.9 and a median household income of $150,113, according to Data USA. This marks a slight decline in population (-0.0768%) but a 3.41% income increase from 2022, underscoring the area’s economic resilience. The county’s diversity is striking: 30.6% of residents were foreign-born in 2023, higher than the national average of 13.8%, with significant communities from El Salvador, India, and Mexico. The racial composition includes a plurality of White (Non-Hispanic) residents, followed by substantial Asian (Non-Hispanic) and Hispanic populations.
Waterford Square, located near the Fairfax County Government Center and within the zip code 22030 (Fairfax City area), likely mirrors this diversity, albeit with nuances tied to its condo-dwelling population. Condominiums often attract a mix of young professionals, small families, and retirees, drawn by lower maintenance and proximity to urban amenities. The nearby city of Fairfax, with a population of 24,242 in 2022, offers a slightly younger median age (37.5) and a median household income of $128,708, suggesting a slightly less affluent but still prosperous demographic compared to the county average. Fairfax City’s ethnic breakdown—53.3% White (Non-Hispanic), 17.4% Asian (Non-Hispanic), and 13.41% Hispanic—aligns with county trends, indicating that Waterford Square residents likely include a blend of tech workers, government employees, and multicultural families.
The condo’s proximity to George Mason University (10,335 degrees awarded in 2022) and Northern Virginia Community College (9,087 degrees) suggests a potential student or academic presence, though condos typically cater more to permanent residents than transient renters. The average household size in Fairfax County (3.25 for family households) and high homeownership rate (68.3% in 2023) imply that Waterford Square’s units—likely ranging from one to three bedrooms—house small families or couples, many of whom own rather than rent. The area’s affluence, driven by industries like Professional, Scientific, & Technical Services (140,394 employees countywide) and Public Administration (72,491 employees), supports a stable, educated resident base, with Waterford Square benefiting from its location in a high-employment corridor.
Real Estate Trends: Value, Demand, and Future Prospects
Real estate trends for Waterford Square Condominiums are deeply intertwined with Fairfax County’s competitive housing market, which has seen steady appreciation and persistent seller’s market conditions. As of March 2025, Fairfax County’s median home sale price reached $729,053, up 5.8% from the previous year, with a median price per square foot of $353, according to Rocket Homes. Condominiums, while typically less expensive than single-family homes, follow this upward trajectory. In Fairfax City, which includes areas near Waterford Square, the median sale price was $768,391 in March 2025, a 6% increase, with a median price per square foot of $346. These figures suggest that Waterford Square units, likely ranging from 800 to 1,200 square feet based on typical condo sizes, could be valued between $276,800 and $415,200, though specific sales data would refine this estimate.
The broader Fairfax County market remains a seller’s market, characterized by low inventory and high demand. In March 2025, the county had 2,536 homes for sale, an 86.8% increase from February, yet homes sold after an average of 16 days, up 5.6% from the prior year. Condo-specific trends from Redfin indicate that in February 2025, Fairfax County saw 700 homes sold (down from 730 the previous year), with a median price of $740,000, up 8.8%. This reflects a robust market driven by record-low interest rates in prior years and a chronic shortage of listings, trends that likely buoyed Waterford Square’s value. Zillow’s typical home value for Fairfax County in 2025 stands at $696,057, up 0.4% over the past year, with properties pending in just 5 days, highlighting intense buyer competition.
Waterford Square’s appeal lies in its location near major employment hubs like Tysons (26.6 million square feet of office space) and the Fairfax County Government Center, as well as its access to I-66 and Route 50. This connectivity, paired with Fairfax County’s high quality of life—evidenced by its top-tier schools and low crime rates—sustains demand. However, condo price growth may lag slightly behind single-family homes, as townhouses and detached homes saw larger percentage increases (e.g., 4.9% for four-bedroom homes). NeighborhoodScout notes that Fairfax City’s housing stock, including condos, appreciated 55.38% over the last decade (4.51% annually), a solid but not exceptional rate, suggesting Waterford Square offers stability rather than speculative windfalls.
Looking forward, environmental factors may influence future trends. Fairfax County anticipates a 114% increase in days over 103°F over the next 30 years, with 12% of properties at risk of severe flooding and 15% at risk of wildfire. While Waterford Square’s specific risk profile is unclear without precise geospatial data, its urbanized setting likely mitigates some hazards compared to rural zones. The shift to plant hardiness zone 7b (and potentially zone 8) by mid-century could also affect landscaping costs and property maintenance, a consideration for condo associations.
Conclusion: Waterford Square as a Fairfax County Stalwart
Waterford Square Condominiums encapsulate Fairfax County’s evolution from a colonial agrarian landscape to a modern suburban powerhouse. Its history is rooted in the region’s post-war housing boom and economic diversification, while its demographics reflect a wealthy, diverse populace drawn by opportunity and proximity to Washington, D.C. Real estate trends underscore its value in a competitive market, bolstered by location and stability, though tempered by broader condo dynamics. As Fairfax County navigates growth, climate challenges, and shifting buyer preferences, Waterford Square stands as a resilient fixture, offering a blend of practicality and prestige in one of Virginia’s most dynamic counties. For residents and investors alike, it remains a compelling chapter in the Fairfax story, poised to adapt to the future while honoring its past.
