Fairfield, AL Real Estate Data

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 Q3 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

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

Fairfield Housing Market Information

With 10,568 people, 4,368 houses or apartments, and a median cost of homes of $90,046, house prices in Fairfield are some of the most affordable in Alabama as well as the nation.

Single-family detached homes are the single most common housing type in Fairfield, accounting for 70.97% of the city's housing units. Other types of housing that are prevalent in Fairfield include large apartment complexes or high rise apartments ( 14.29%), duplexes, homes converted to apartments or other small apartment buildings ( 12.45%), and a few row houses and other attached homes ( 1.17%).

The most prevalent building size and type in Fairfield are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 52.59% owning and 47.41% renting.

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 43.58% of the city's housing hails from this era. Other housing ages represented in Fairfield include homes built between 1970-1999 ( 40.08%) and housing constructed before 1939 ( 11.81%). There's also some housing in Fairfield built between 2000 and later ( 4.53%).

Vacant housing appears to be an issue in Fairfield. Fully 18.61% of the housing stock is classified as vacant. Left unchecked, vacant Fairfield homes and apartments can be a drag on the real estate market, holding Fairfield real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Fairfield Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Fairfield, where house values have increased just 7.01%, which is annualized rate of 0.68%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

NeighborhoodScout's data show that during the latest twelve months, Fairfield's appreciation rate, at 4.19%, has been at or slightly above the national average. In the latest quarter, Fairfield's appreciation rate has been 1.42%, which annualizes to a rate of 5.79%.

Relative to Alabama, our data show that Fairfield's latest annual appreciation rate is lower than 70% of the other cities and towns in Alabama.

Average Home Values

 
info

Median Home Value:
$90,046

Fairfield, AL HOME PRICES

> $1,100,000
0.3%
0.3%
$825,001 - $1,100,000
0.0%
0.0%
$550,001 - $825,000
1.0%
1.0%
$440,001 - $550,000
0.0%
0.0%
$330,001 - $440,000
0.5%
0.5%
$220,001 - $330,000
2.6%
2.6%
$110,001 - $220,000
37.3%
37.3%
$55,001 - $110,000
43.6%
43.6%
$0 - $55,000
14.8%
14.8%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very Low for Nation

Very Low for AL

Value Relative To Nation

Number Of Homes And Apartments:
4,368

Fairfield Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AL*
Compared To
America*
Latest Quarter:
2020 Q2 - 2020 Q3
Last 12 Months:
2019 Q3 - 2020 Q3
Last 2 Years:
2018 Q3 - 2020 Q3
Last 5 Years:
2015 Q3 - 2020 Q3
Last 10 Years:
2010 Q3 - 2020 Q3
Since 2000:
2000 Q1 - 2020 Q3
22.19% 0.97%
1
1
* 10 is highest

Rent & Ownership

 
info

Average Market Rent:
$880 / per month

Homeownership Rate

Owners
52.6%
52.6%
Renters
47.4%
47.4%
Vacant
18.6%
18.6%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
4.5%
4.5%
1970 - 1999
40.1%
40.1%
1940 - 1969
43.6%
43.6%
1939 or Older
11.8%
11.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
71.0%
71.0%
Townhomes
1.2%
1.2%
Small Apt. Buildings
12.4%
12.4%
Apt. Complexes
14.3%
14.3%
Mobile Homes
1.1%
1.1%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.1%
0.1%
1 Bedroom
11.9%
11.9%
2 Bedrooms
28.4%
28.4%
3 Bedrooms
48.5%
48.5%
4 Bedrooms
9.5%
9.5%
5 or more bedrooms
1.5%
1.5%
0.0% 100.0%
% OF HOMES