New Fairfield, CT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating New Fairfield Neighborhoods Since 2000




New 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

New Fairfield Housing Market Information

With a population of 14,126, 4,851 total housing units (homes and apartments), and a median house value of $361,311, real estate costs in New Fairfield are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Connecticut communities.

Single-family detached homes are the single most common housing type in New Fairfield, accounting for 97.13% of the town's housing units. Other types of housing that are prevalent in New Fairfield include duplexes, homes converted to apartments or other small apartment buildings ( 1.67%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in New Fairfield. Owner-occupied housing accounts for 95.26% of New Fairfield's homes, and 75.30% 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. New Fairfield's housing was primarily built during this period, from the '40s through the '60s. A full 42.66% of the town's housing hails from this era. Other housing ages represented in New Fairfield include homes built between 1970-1999 ( 40.93%) and housing constructed before 1939 ( 11.02%). There's also some housing in New Fairfield built between 2000 and later ( 5.39%).

Vacant housing appears to be an issue in New Fairfield. Fully 17.26% of the housing stock is classified as vacant. Left unchecked, vacant New Fairfield homes and apartments can be a drag on the real estate market, holding New 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.

New Fairfield Home Appreciation Rates

Homes have actually lost value in New Fairfield over the last then years, as home values have seen a decline of 24.66% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows New Fairfield home appreciation rates at -1.81%, which equates to an annual appreciation rate of -7.04%.

Over the last year, New Fairfield appreciation rates have trailed the rest of the nation. In the last twelve months, New Fairfield's appreciation rate has been -1.46%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in New Fairfield were at -1.81%, which equates to an annual appreciation rate of -7.04%.

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

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

Average Home Values

 

Median Home Value:
$361,311

New Fairfield, CT HOME PRICES

Value Range
> $992,000 2.8
$744,001 - $992,000 2.0
$496,001 - $744,000 14.1
$397,001 - $496,000 15.8
$298,001 - $397,000 31.3
$199,001 - $298,000 22.1
$99,001 - $199,000 8.8
$50,001 - $99,000 0.0
$0 - $50,000 3.2

High for CT
Very High for Nation

Value Relative to Nation Value Relative to State
11.4086487753428 23.0769230769231

Number Of Homes And Apartments:
4,851

New 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
21.92% 1.16% 4 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,585 / per month

Homeownership Rate

Homeownership
Owners 95.26
Renters 4.74
Vacant 17.26

Housing Market Details

 

Age of Homes

AGE OF New Fairfield HOMES
2000 or Newer 5.4
1970 - 1999 40.9
1940 - 1969 42.7
1939 or Older 11.0

Types of Homes

TYPE OF New Fairfield HOMES
Single-Family 97.1
Townhomes 0.7
Small Apt. Buildings 1.7
Apt. Complexes 0.4
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF New Fairfield HOMES
No Bedroom 0.00
1 Bedroom 3.74
2 Bedrooms 16.12
3 Bedrooms 47.16
4 Bedrooms 28.14
5 or more bedrooms 4.84