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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.



Fairfield, CT 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 Q3 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2021 (latest available). Updated annually.

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

Fairfield, CT Housing Market Trends

With 62,871 people, 21,086 houses or apartments, and a median cost of homes of $979,681, Fairfield house prices are not only among the most expensive in Connecticut, Fairfield real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Fairfield, accounting for 77.37% of the town's housing units. Other types of housing that are prevalent in Fairfield include duplexes, homes converted to apartments or other small apartment buildings ( 9.41%), row houses and other attached homes ( 7.66%), and a few large apartment complexes or high rise apartments ( 5.23%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Fairfield. Owner-occupied housing accounts for 76.71% of Fairfield's homes, and 67.21% 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. Fairfield's housing was primarily built during this period, from the '40s through the '60s. A full 46.31% of the town's housing hails from this era. Other housing ages represented in Fairfield include homes built between 1970-1999 ( 24.19%) and housing constructed before 1939 ( 19.21%). There's also some housing in Fairfield built between 2000 and later ( 10.30%).

Fairfield Home Appreciation Rates

Fairfield's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Fairfield during the period has been just 4.04%, which is lower than 80% of US communities.

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 8.04%, which is higher than appreciation rates in 89.33% 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 5.73%, which equates to an annual appreciation rate of 24.99%.

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

Relative to Connecticut, our data show that Fairfield's latest annual appreciation rate is higher than 50% of the other cities and towns in Connecticut.

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

Average Home Values

Median Home Value

$979,681

Fairfield, CT Home Prices
> $1,344,000
$1,008,001 - $1,344,000
$672,001 - $1,008,000
$538,001 - $672,000
$404,001 - $538,000
$269,001 - $404,000
$135,001 - $269,000
$67,001 - $135,000
$0 - $67,000
16.1%
16.1%
17.8%
17.8%
29.7%
29.7%
14.0%
14.0%
13.4%
13.4%
6.2%
6.2%
1.3%
1.3%
0.5%
0.5%
1.0%
1.0%
0% 100.0%
% of Homes
Very High

for Connecticut

Very High

for nation

Number of Homes And Apartments:

21,086

Fairfield Appreciation Rates

Rent & Ownership

Average Market Rent:

$4,267 / per month

Homeownership Rate

Owners
Renters
Vacant
76.7%
76.7%
23.3%
23.3%
4.5%
4.5%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
10.3%
10.3%
24.2%
24.2%
46.3%
46.3%
19.2%
19.2%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
77.4%
77.4%
7.7%
7.7%
9.4%
9.4%
5.2%
5.2%
0.1%
0.1%
0.2%
0.2%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.5%
0.5%
4.6%
4.6%
17.0%
17.0%
37.8%
37.8%
29.4%
29.4%
10.7%
10.7%
0% 100.0%
% of Homes