There were 2,875 households out of which 37.3% had children under the age of 18 living with them, 81.5% were married couples living together, 5.3% had a female householder with no husband present, and 11.3% were non-families. 9.6% of all households were made up of individuals and 3.5% had someone living alone who was 65 years of age or older. The average household size was 2.93 and the average family size was 3.13.
In the CDP the population was spread out with 25.8% under the age of 18, 5.5% from 18 to 24, 23.0% from 25 to 44, 34.8% from 45 to 64, and 10.9% who were 65 years of age or older. The median age was 43 years. For every 100 females there were 98.6 males. For every 100 females age 18 and over, there were 95.2 males.
The median income for a household in the CDP was $84,296, and the median income for a family was $87,686. Males had a median income of $62,112 versus $37,500 for females. The per capita income for the CDP was $31,093. About 2.2% of families and 2.3% of the population were below the poverty line, including 3.4% of those under age 18 and 2.4% of those age 65 or over.
Fallston mostly consists of farms or residential housing. There is, though a strip of Belair Road (Rt 1) running through the south-east side of the town (technically outside of Fallston proper, in an area once known as 'Benson'). This part of Fallston is packed with much business. As of early 2007, plans for a construction of a Walmart Super Store and other businesses were planned. It was not until mid 2007 that this massive project was undertaken and given a name, 'Fallston Commons'. It covers a mass of over 800 square acres. The construction will be a boulevard, consisting of two parallel roads running side-by-side. Approximately 300 senior citizen town homes will be build in addition to an assisted living retirement home. Besides the Walmart Super Store, a Starbucks, and a Wendy's will be built in addition to numerous other businesses. Walmart is funding the massive project and will turn part of Belair Road into a six-lane highway and will add four new intersections and stop lights to assist in managing the traffic. The end date for the project is estimated to be at late 2008 to early 2009.