Reston renters are paying slightly less than they were a year ago, with the median apartment rent falling to $2,424 in July — a 0.9% drop from the submarket's all-time high set in July 2025.

The figures come from Apartment List's national rent report, published July 29, which tracks rents across the 100 largest U.S. urban areas. In Reston, a one-bedroom apartment runs a median $2,247 per month, while a two-bedroom costs $2,379.

The dip is real. But Reston's decline is modest compared with other parts of the county.

Seven of the eight Fairfax County submarkets Apartment List tracks posted year-over-year drops in July:

  • Annandale: down 6% ($1,850 one-bedroom / $2,111 two-bedroom)
  • Fair Oaks: down 3.9% ($2,222 / $2,484)
  • Fairfax City: down 2.9% ($1,918 / $2,195)
  • Centreville: down 2.2% ($2,075 / $2,411)
  • Tysons: down 1.1% ($2,242 / $2,906)
  • Lorton: down 1.1% ($2,249 / $2,727)
  • Reston: down 0.9% ($2,247 / $2,379)
  • Herndon: essentially flat at +0.1% ($1,888 / $2,266)

Countywide, the median rent for all unit sizes fell 1.3% year-over-year to $2,430, as FFXnow reported Aug. 6. Fairfax County hit its all-time high of $2,471 in June 2025.

Why rents are falling

A historic wave of apartment construction is the main force pushing rents down. Nationally, 2024 saw more than 600,000 new multifamily units delivered, the most for any year since 1986, according to Zumper's July rent report. Full-year rent growth has been negative for three consecutive years as the market absorbs that inventory.

Locally, new communities near Reston's Silver Line stations — Skymark, Signature, The Avant and BLVD Reston Station among them — have added well over 1,000 units in recent years, with more on the way at Halley Rise.

The national picture is starting to shift. Grant Montgomery, national director of U.S. multifamily analytics at CoStar Group, said Aug. 6 that demand exceeded new supply by more than 45,000 units in the second quarter of 2026, with absorption totaling roughly 164,000 units while deliveries fell 22% year-over-year to about 118,000.

"Apartment market conditions continued to improve during the second quarter as renter demand remained healthy while new supply pressures eased," Montgomery said in a CoStar release.