Fairfield, CT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Fairfield Neighborhoods Since 2000




Fairfield, CT 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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Fairfield Housing Market Information

With a population of 61,523, 20,233 total housing units (homes and apartments), and a median house value of $612,066, 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 80.01% 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 ( 9.03%), row houses and other attached homes ( 5.55%), and a few large apartment complexes or high rise apartments ( 4.98%).

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 76.08% of Fairfield's homes, and 67.62% 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 50.92% of the town's housing hails from this era. Other housing ages represented in Fairfield include homes built before 1939 ( 22.38%) and housing constructed between 1970-1999 ( 21.14%). There's also some housing in Fairfield built between 2000 and later ( 5.55%).

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 -1.32%, which is lower than 70% of US communities.

Over the last year, Fairfield appreciation rates have trailed the rest of the nation. In the last twelve months, Fairfield's appreciation rate has been -1.74%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Fairfield were at -1.81%, which equates to an annual appreciation rate of -7.04%.

Notably, Fairfield's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Connecticut, our data show that Fairfield's latest annual appreciation rate is lower than 70% 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:
$612,066

Fairfield, CT HOME PRICES

Value Range
> $1,024,000 14.1
$768,001 - $1,024,000 16.2
$512,001 - $768,000 29.1
$410,001 - $512,000 15.1
$307,001 - $410,000 15.5
$205,001 - $307,000 6.2
$102,001 - $205,000 1.9
$51,001 - $102,000 0.4
$0 - $51,000 1.5

Very High for CT
Very High for Nation

Value Relative to Nation Value Relative to State
3.73842728231572 5.32544378698225

Number Of Homes And Apartments:
20,233

Fairfield Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CT*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
46.51% 2.24% 10 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,350 / per month

Homeownership Rate

Homeownership
Owners 76.08
Renters 23.92
Vacant 5.27

Housing Market Details

 

Age of Homes

AGE OF Fairfield HOMES
2000 or Newer 5.6
1970 - 1999 21.1
1940 - 1969 50.9
1939 or Older 22.4

Types of Homes

TYPE OF Fairfield HOMES
Single-Family 80.0
Townhomes 5.6
Small Apt. Buildings 9.0
Apt. Complexes 5.0
Mobile Homes 0.4
Other 0.0

Home Size

SIZE OF Fairfield HOMES
No Bedroom 0.54
1 Bedroom 4.69
2 Bedrooms 18.01
3 Bedrooms 38.76
4 Bedrooms 28.86
5 or more bedrooms 9.14