economy | ALXnow

Alexandria gets three new Opportunity Zones to incentivize revitalization

Published November 9, 2026 at 1:45PM

N. Beauregard Street near Roanoke Avenue in Alexandria West (via Google Maps)

Three additional Opportunity Zones have been added in Alexandria’s West End to support revitalization, Gov. Abigail Spanberger (D) announced Friday (Nov. 6).

The U.S. Department of the Treasury approved all 153 new Opportunity Zones the Spanberger administration requested in Virginia. The zones are intended to promote long-term private investment in low-income urban, suburban and rural census tracts through federal tax benefits such as deferral of previous capital gains, step-up of previously earned capital gains and exclusion of taxable income on new capital gains in Opportunity Zones. The program was created by the 2017 Tax Cuts and Jobs Act.

News

Alexandria’s apartment rental costs fall 5% below last year’s all-time high

By Scott McCaffrey

Published November 4, 2026 at 9:15AM

Elbert Avenue Apartments (via Google Maps)

Alexandria’s median apartment rents declined just under 1% year over year in October and remain about 5% off the city’s all-time high, according to new data.

The city’s median apartment rental rates were $2,005 for one-bedroom units, $2,643 for two bedrooms and $2,189 overall, according to figures reported Oct. 28 by Apartment List.

News

Sen. Warner takes final aim at GOP in election eve campaign rally in Alexandria

By James Cullum

Published November 3, 2026 at 9:15AM

(Left to right) Mayor Alyia Gaskins, Rep. James Walkinshaw (D-11), U.S. Sen. Mark Warner and Rep. Don Beyer (D-8) at a Democratic rally at Port City Brewing Company in Alexandria’s West End, Nov. 2, 2026 (staff photo by James Cullum)

U.S. Sen. Mark Warner (D-Va.) put a final stamp on his political career Monday night, as the three-term senator and former governor held his last campaign rally in Alexandria.

Flanked by Alexandria Mayor Alyia Gaskins and Northern Virginia Reps. James Walkinshaw (D-11) and Don Beyer (D-8), Warner heavily criticized President Donald Trump’s administration and congressional Republicans, and called on voters to restore moral leadership to the country.

News

Alexandria’s total workforce holds below 100,000 over the past year

By Scott McCaffrey

Published November 2, 2026 at 9:15AM

Employees in office (image via Vitaly Gariev/Unsplash)

Alexandria’s total workforce remained below 100,000 residents for the 11th month in a row in September, with some city residents moving into retirement or nontraditional jobs — or leaving the local area entirely.

The city’s total civilian workforce stood at 97,772 in September, with 94,680 employed and 3,092 seeking jobs, according to figures reported Oct. 28 by the Virginia Department of Workforce Development and Advancement.

News

Potomac Yard’s 0% vacancy rate reveals missed opportunity, officials say

By Emily Leayman

Published October 15, 2026 at 1:45PM | Updated October 15, 2026 at 2:36PM

Virginia Tech in the background of the Potomac Yard Shopping Center (staff photo by Emily Leayman)

Even as Alexandria’s office vacancies improve, city officials learned about a missed opportunity with Potomac Yard’s 0% vacancy rate.

During City Council’s Tuesday (Oct. 13) legislative meeting, Alexandria Economic Development Partnership staff briefed officials on economic progress since City Council in January approved ALX Forward, a framework for the city’s economic future.

News

Elevated interest rates are putting a chill in Alexandria’s real estate market

By Scott McCaffrey

Published October 15, 2026 at 11:45AM

Home living room and dining room (via Francesca Tosolini/Unsplash)

Affordability issues and higher interest rates led to a rough month in real estate across Alexandria in September.

Sales for the month totaled 143, down from 167 a year before and below the five-year average of 150 for the month, according to data reported Oct. 12 by MarketStats by ShowingTime.

News

Alexandria’s jobless rate drops, but so does the number of residents in workforce

By Scott McCaffrey

Published October 8, 2026 at 9:15AM

Job interview (via Tim Gouw/Unsplash)

Alexandria’s recently reported unemployment rate was down from a year before and on the lower end of what has been seen citywide during the past year.

But like much of the rest of Northern Virginia, there also has been an exodus in the total number of city residents with jobs.

News

Alexandria apartment rents follow cyclical norms, cooling with the fall temperatures

By Scott McCaffrey

Published October 5, 2026 at 9:15AM

Apartment interior (via Francesca Tosolini/Unsplash)

Alexandria’s apartment rental market is moving into the cooler stage of the year, and rental rates are down slightly from a year ago.

The city saw a median apartment rental rate of $2,193 — $2,008 for one-bedroom units and $2,467 for two bedrooms — in September, according to data reported Sept. 29 by Apartment List.

News

Federal job cuts, furloughs hit Alexandria harder than regional average, report shows

By Emily Leayman and The Associated Press

Published September 30, 2026 at 11:45AM

FILE – People rally at Health and Human Services headquarters to protest the policies of President Donald Trump and Elon Musk Wednesday, Feb. 19, 2025, in Washington. (AP Photo/John McDonnell, file)

Alexandria households are feeling a greater impact of federal government workforce reductions than the D.C. regional average, according to a recent regional survey.

The report released last Thursday (Sept. 24) from Gallup and the Greater Washington Community Foundation, titled “Voices of the Community: DC, Maryland, Virginia,” incorporated research on federal government disruptions on the region’s residents.

News

Alexandria home sales soften in August as buyers react to higher interest rates

By Scott McCaffrey

Published September 16, 2026 at 11:45AM

Home move (photo by Vitaly Gariev/Unsplash)

Alexandria recorded a significant year-over-year decline in home sales during August as the regional and national markets slowed due to rising interest rates.

Total sales across the city for the month were 130, down 28.6% from 182 transactions in August 2025, according to figures reported by MarketStats by ShowingTime.

News

Alexandria unemployment stabilizes but remains elevated amid federal downsizing

By Scott McCaffrey

Published September 8, 2026 at 11:45AM

Employees in office (image via Vitaly Gariev/Unsplash)

Alexandria’s jobless rate was stable year over year in new data but remains elevated compared to levels recorded before the Trump administration’s federal government downsizing began.

A total of 96,600 city residents were counted as employed in the civilian workforce in July, with 3,150 seeking jobs, according to figures reported Sept. 2 by the Virginia Department of Workforce Development and Advancement.