Fairlawn appreciation rates and housing market information

Fairlawn housing market information

With 7,326 people, 3,131 houses or apartments, and a median cost of homes of $224,163, Fairlawn real estate is some of the most expensive in Ohio, although Fairlawn home values aren't among America's most expensive.

single-family detached homes are the single most common housing type in Fairlawn, accounting for 61.80% of the city's housing units. Other types of housing that are prevalent in Fairlawn include large apartment complexes or high rise apartments (25.23%), duplexes, homes converted to apartments, or other small apartment buildings (9.26%), and a few row houses and other attached homes (3.45%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Fairlawn. Owner-occupied housing accounts for 63.62% of Fairlawn's homes, and 64.97% 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. Fairlawn's housing was primarily built during this period, from the '40s through the '60s. A full 51.42% of the city's housing hails from this era. Other housing ages represented in Fairlawn include homes built between 1970-1994 (30.12%), and housing constructed from 1995 and later (16.67%). There's also some housing in Fairlawn built between 1939 and earlier (1.79%).

Fairlawn home appreciation rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Fairlawn, where house values have increased just 23.26%, which is an average annual increase of 2.32%. NeighborhoodScout's data show that in the latest quarter, Fairlawn house values appreciated 2.46%, which is an annualized rate of 9.84%. This rate is lower than the appreciation rate found in 10% of the cities and towns in America.

Over the last year, Fairlawn appreciation rates have trailed the rest of the nation. In the last twelve months, Fairlawn's appreciation rate has been -1.09%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Fairlawn were at 2.46%, which equates to an annual appreciation rate of 9.84%.

Importantly, this makes Fairlawn one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Ohio, our data show that Fairlawn's latest annual appreciation rate is higher than 15% of the other cities and towns in Ohio.