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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, IA 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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

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

Fairfield, IA Housing Market Trends

With 9,464 people, 4,139 houses or apartments, and a median cost of homes of $171,373, 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 62.05% of the city's housing units. Other types of housing that are prevalent in Fairfield include duplexes, homes converted to apartments or other small apartment buildings ( 13.74%), mobile homes or trailers ( 9.80%), and a few large apartment complexes or high rise apartments ( 9.63%).

People in Fairfield primarily live in small (one, two or no bedroom) single-family detached homes. Fairfield has a mixture of owner-occupied and renter-occupied housing.

The housing in Fairfield was primarily built before 1939 ( 31.24%), making the housing stock in Fairfield some of the oldest overall in America, although there is a range of ages of homes in Fairfield. The next most important housing age is between 1970-1999 ( 29.02%), followed by between 1940-1969 ( 24.94%). There's also some housing in Fairfield built between 2000 and later ( 14.80%).

Vacant housing appears to be an issue in Fairfield. Fully 11.86% 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

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 4.57%, which is lower than 80% 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 4.37%, 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 1.02%, which equates to an annual appreciation rate of 4.14%.

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

Average Home Values

Median Home Value

$171,373

Fairfield, IA Home Prices
> $1,303,000
$977,001 - $1,303,000
$651,001 - $977,000
$521,001 - $651,000
$391,001 - $521,000
$260,001 - $391,000
$130,001 - $260,000
$65,001 - $130,000
$0 - $65,000
0.0%
0.0%
0.0%
0.0%
2.3%
2.3%
4.0%
4.0%
3.4%
3.4%
19.5%
19.5%
39.7%
39.7%
17.5%
17.5%
13.6%
13.6%
0% 100.0%
% of Homes
Low

for Iowa

Low

for nation

Number of Homes And Apartments:

4,139

Fairfield Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,172 / per month

Homeownership Rate

Owners
Renters
51.9%
51.9%
48.1%
48.1%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
11.9%
11.9%
88.1%
88.1%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
14.8%
14.8%
29.0%
29.0%
24.9%
24.9%
31.2%
31.2%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
62.1%
62.1%
4.8%
4.8%
13.7%
13.7%
9.6%
9.6%
9.8%
9.8%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
5.0%
5.0%
9.6%
9.6%
40.5%
40.5%
31.5%
31.5%
11.6%
11.6%
1.9%
1.9%
0% 100.0%
% of Homes

Popular Communities Near Fairfield, IA

Zip Codes in Fairfield, IA