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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 18,730, 6,551 total housing units (homes and apartments), and a median house value of $264,268, Fairhope real estate is some of the most expensive in Alabama, although Fairhope home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Fairhope, accounting for 79.92% of the city's housing units. Other types of housing that are prevalent in Fairhope include large apartment complexes or high rise apartments ( 10.97%), mobile homes or trailers ( 4.42%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.10%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Fairhope. Owner-occupied housing accounts for 71.76% of Fairhope's homes, and 72.00% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Fairhope built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Fairhope built between 2000 and later ( 29.85%). A lesser amount of the housing stock also hails from between 1940-1969 ( 19.68%). There's also some housing in Fairhope built before 1939 ( 3.06%).
Vacant housing appears to be an issue in Fairhope. Fully 14.01% of the housing stock is classified as vacant. Left unchecked, vacant Fairhope homes and apartments can be a drag on the real estate market, holding Fairhope 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.
Real estate appreciation rates in Fairhope's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 0.08% during the period.
NeighborhoodScout's data show that during the latest twelve months, Fairhope's appreciation rate, at 5.32%, has been at or slightly above the national average. In the latest quarter, Fairhope's appreciation rate has been 0.66%, which annualizes to a rate of 2.65%.
Notably, Fairhope's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Alabama, our data show that Fairhope's latest annual appreciation rate is higher than 90% of the other cities and towns in Alabama.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Fairhope differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Fairhope - 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 Fairhope real estate investment or home purchase decisions.
|$922,001 - $1,230,000||2.6|
|$615,001 - $922,000||7.1|
|$492,001 - $615,000||5.4|
|$369,001 - $492,000||12.9|
|$246,001 - $369,000||28.5|
|$123,001 - $246,000||32.0|
|$62,001 - $123,000||5.3|
|$0 - $62,000||5.2|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2017 Q2 - 2017 Q3
Last 12 Months:
2016 Q3 - 2017 Q3
Last 2 Years:
2015 Q3 - 2017 Q3
Last 5 Years:
2012 Q3 - 2017 Q3
Last 10 Years:
2007 Q3 - 2017 Q3
2000 Q1 - 2017 Q3
|* 10 is highest|
|AGE OF Fairhope HOMES|
|2000 or Newer||29.9|
|1970 - 1999||47.4|
|1940 - 1969||19.7|
|1939 or Older||3.1|
|TYPE OF Fairhope HOMES|
|Small Apt. Buildings||3.1|
|SIZE OF Fairhope HOMES|
|5 or more bedrooms||4.23|