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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Fall River, MA Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Fall River, MA Housing Market Trends

With a population of 93,682, 41,113 total housing units (homes and apartments), and a median house value of $440,281, Fall River real estate values are some of the lowest in Massachusetts, although compared to real estate around the nation, Fall River homes are still considered rather expensive.

Duplexes, homes converted to apartments or other small apartment buildings are the single most common housing type in Fall River, accounting for 45.82% of the city's housing units. Other types of housing that are prevalent in Fall River include large apartment complexes or high rise apartments ( 28.29%), single-family detached homes ( 23.10%), and a few row houses and other attached homes ( 2.21%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

People in Fall River primarily live in small (one, two or no bedroom) units, chiefly found in duplexes, homes converted to apartments or other small apartment buildings. Fall River has a mixture of owner-occupied and renter-occupied housing.

The housing in Fall River was primarily built before 1939 ( 47.10%), making the housing stock in Fall River some of the oldest overall in America, although there is a range of ages of homes in Fall River. The next most important housing age is between 1940-1969 ( 23.61%), followed by between 1970-1999 ( 23.54%). There's also some housing in Fall River built between 2000 and later ( 5.75%).

Fall River Home Appreciation Rates

Appreciation rates for homes in Fall River have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 93.71%, which ranks in the top 40% nationwide. This equates to an annual average Fall River house appreciation rate of 6.84%.

Appreciation rates are so strong in Fall River that despite a nationwide downturn in the housing market, Fall River real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Fall River appreciation rates continue to be some of the highest in America, at 7.71%, which is higher than appreciation rates in 81.76% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Fall River. Fall River appreciation rates in the latest quarter were at 2.08%, which equates to an annual appreciation rate of 8.59%.

Relative to Massachusetts, our data show that Fall River's latest annual appreciation rate is higher than 70% of the other cities and towns in Massachusetts.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Fall River differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Fall River - 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 2000, to assist you in making the best Fall River real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$440,281

Fall River, MA Home Prices
> $1,341,000
$1,006,001 - $1,341,000
$671,001 - $1,006,000
$537,001 - $671,000
$402,001 - $537,000
$268,001 - $402,000
$134,001 - $268,000
$67,001 - $134,000
$0 - $67,000
0.4%
0.4%
1.4%
1.4%
6.8%
6.8%
17.5%
17.5%
31.8%
31.8%
27.6%
27.6%
9.0%
9.0%
2.1%
2.1%
3.3%
3.3%
0% 100.0%
% of Homes
Very Low

for Massachusetts

High

for nation

Number of Homes And Apartments:

41,113

Fall River Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,013 / per month

Homeownership Rate

Owners
Renters
35.3%
35.3%
64.7%
64.7%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
6.5%
6.5%
93.5%
93.5%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
5.7%
5.7%
23.5%
23.5%
23.6%
23.6%
47.1%
47.1%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
23.1%
23.1%
2.2%
2.2%
45.8%
45.8%
28.3%
28.3%
0.6%
0.6%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.0%
2.0%
15.7%
15.7%
36.1%
36.1%
38.2%
38.2%
6.4%
6.4%
1.6%
1.6%
0% 100.0%
% of Homes