Fairfield, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Fairfield Neighborhoods Since 2000




Fairfield, AL Real Estate Data


Fairfield Housing Market Information

With 10,907 people, 4,198 houses or apartments, and a median cost of homes of $89,104, house prices in Fairfield are solidly below the national average.

Single-family detached homes are the single most common housing type in Fairfield, accounting for 76.97% of the city's housing units. Other types of housing that are prevalent in Fairfield include large apartment complexes or high rise apartments ( 13.32%), duplexes, homes converted to apartments or other small apartment buildings ( 8.94%).

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 56.77% owning and 43.23% 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 41.91% of the city's housing hails from this era. Other housing ages represented in Fairfield include homes built between 1970-1999 ( 38.49%) and housing constructed before 1939 ( 14.74%). There's also some housing in Fairfield built between 2000 and later ( 4.87%).

Vacant housing appears to be an issue in Fairfield. Fully 18.28% 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

Real estate appreciation rates in Fairfield's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.21% during the period.

Appreciation rates are so strong in Fairfield that despite a nationwide downturn in the housing market, Fairfield real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Fairfield appreciation rates continue to be some of the highest in America, at 15.78%, which is higher than appreciation rates in 99.05% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Fairfield. Fairfield appreciation rates in the latest quarter were at 2.09%, which equates to an annual appreciation rate of 8.63%.

Importantly, this makes Fairfield 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 Alabama, our data show that Fairfield's latest annual appreciation rate is higher than 90% of the other cities and towns in Alabama.

Average Home Values

 

Median Home Value:
$89,104

Fairfield, AL HOME PRICES

Value Range
> $1,127,000 0.0
$845,001 - $1,127,000 0.0
$563,001 - $845,000 0.0
$451,001 - $563,000 0.6
$338,001 - $451,000 0.7
$225,001 - $338,000 3.7
$113,001 - $225,000 36.0
$56,001 - $113,000 37.1
$0 - $56,000 21.8

Low for AL
Very Low for Nation

Value Relative to Nation Value Relative to State
84.5423649361303 64.0

Number Of Homes And Apartments:
4,198

Rent & Ownership

 

Average Market Rent:
$905 / per month

Homeownership Rate

Homeownership
Owners 56.77
Renters 43.23
Vacant 18.28

Housing Market Details

 

Age of Homes

AGE OF Fairfield HOMES
2000 or Newer 4.9
1970 - 1999 38.5
1940 - 1969 41.9
1939 or Older 14.7

Types of Homes

TYPE OF Fairfield HOMES
Single-Family 77.0
Townhomes 0.8
Small Apt. Buildings 8.9
Apt. Complexes 13.3
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Fairfield HOMES
No Bedroom 0.18
1 Bedroom 8.43
2 Bedrooms 30.45
3 Bedrooms 50.01
4 Bedrooms 9.60
5 or more bedrooms 1.34

Fairfield Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AL*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
22.53% 1.18% 3 2
* 10 is highest