Fairfield, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Fairfield Neighborhoods Since 2000




Fairfield, IL 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 5,040, 2,364 total housing units (homes and apartments), and a median house value of $68,798, house prices in Fairfield are some of the most affordable in Illinois as well as the nation.

Single-family detached homes are the single most common housing type in Fairfield, accounting for 72.03% of the city's housing units. Other types of housing that are prevalent in Fairfield include mobile homes or trailers ( 13.70%), duplexes, homes converted to apartments or other small apartment buildings ( 7.40%), and a few large apartment complexes or high rise apartments ( 6.15%).

Dwellings in Fairfield tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 55.53% of the homes in Fairfield have two or fewer bedrooms.

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 49.30% of the city's housing hails from this era. Other housing ages represented in Fairfield include homes built between 1970-1999 ( 31.37%) and housing constructed before 1939 ( 12.91%). There's also some housing in Fairfield built between 2000 and later ( 6.42%).

Vacant housing appears to be an issue in Fairfield. Fully 10.76% 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

Appreciation rates for homes in Fairfield have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 12.23%, which ranks in the top 30% nationwide. This equates to an annual average Fairfield house appreciation rate of 1.16%.

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 2.98%, 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 0.00%, which equates to an annual appreciation rate of 0.00%.

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

Average Home Values

 

Median Home Value:
$68,798

Fairfield, IL HOME PRICES

Value Range
> $1,053,000 0.0
$789,001 - $1,053,000 0.0
$526,001 - $789,000 0.6
$421,001 - $526,000 0.0
$316,001 - $421,000 0.9
$210,001 - $316,000 4.4
$105,001 - $210,000 21.2
$53,001 - $105,000 38.2
$0 - $53,000 34.7

Very Low for IL
Very Low for Nation

Value Relative to Nation Value Relative to State
95.7576467830775 95.1898734177215

Number Of Homes And Apartments:
2,364

Fairfield Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
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
41.60% 2.04% 9 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$949 / per month

Homeownership Rate

Homeownership
Owners 65.11
Renters 34.89
Vacant 10.76

Housing Market Details

 

Age of Homes

AGE OF Fairfield HOMES
2000 or Newer 6.4
1970 - 1999 31.4
1940 - 1969 49.3
1939 or Older 12.9

Types of Homes

TYPE OF Fairfield HOMES
Single-Family 72.0
Townhomes 0.7
Small Apt. Buildings 7.4
Apt. Complexes 6.2
Mobile Homes 13.7
Other 0.0

Home Size

SIZE OF Fairfield HOMES
No Bedroom 1.02
1 Bedroom 16.69
2 Bedrooms 37.83
3 Bedrooms 35.30
4 Bedrooms 8.15
5 or more bedrooms 1.02

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Zip Codes in Fairfield, IL