Fairfield appreciation rates and housing market information

Fairfield housing market information

With 57,340 people, 21,029 houses or apartments, and a median cost of homes of $629,128, Fairfield house prices are not only among the most expensive in Connecticut, Fairfield real estate also is some of the most expensive in all of America.

single-family detached homes are the single most common housing type in Fairfield, accounting for 79.07% of the town's housing units. Other types of housing that are prevalent in Fairfield include duplexes, homes converted to apartments, or other small apartment buildings (11.14%), row houses and other attached homes (4.99%), and a few large apartment complexes or high rise apartments (4.59%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Fairfield. Owner-occupied housing accounts for 80.65% of Fairfield's homes, and 65.58% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Fairfield's housing was primarily built during this period, from the '40s through the '60s. A full 55.60% of the town's housing hails from this era. Other housing ages represented in Fairfield include homes built between 1939 and earlier (20.86%), and housing constructed from 1970-1994 (19.66%). There's also some housing in Fairfield built between 1995 and later (3.88%).

Fairfield home appreciation rates

Appreciation rates for homes in Fairfield have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 100.72%, which ranks in the top 20% nationwide. This equates to an annual average Fairfield house appreciation rate of 10.07%.

Over the last year, Fairfield appreciation rates have trailed the rest of the nation. In the last twelve months, Fairfield's appreciation rate has been -4.18%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Fairfield were at 0.43%, which equates to an annual appreciation rate of 1.72%.

Relative to Connecticut, our data show that Fairfield's latest annual appreciation rate is higher than 58% of the other cities and towns in Connecticut.

One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Fairfield differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Fairfield - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Fairfield real estate investment or home purchase decisions.