Fairhaven, MA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Fairhaven Neighborhoods Since 2000




Fairhaven, MA 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

Fairhaven Housing Market Information

With a population of 16,140, 6,687 total housing units (homes and apartments), and a median house value of $303,829, Fairhaven real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Fairhaven, accounting for 73.49% of the town's housing units. Other types of housing that are prevalent in Fairhaven include duplexes, homes converted to apartments or other small apartment buildings ( 13.71%), large apartment complexes or high rise apartments ( 9.27%), and a few row houses and other attached homes ( 3.06%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Fairhaven. Owner-occupied housing accounts for 71.60% of Fairhaven's homes, and 51.91% have either three or four bedrooms, which is average sized relative to America.

The housing in Fairhaven was primarily built before 1939 ( 37.80%), making the housing stock in Fairhaven some of the oldest overall in America, although there is a range of ages of homes in Fairhaven. The next most important housing age is between 1940-1969 ( 32.71%), followed by between 1970-1999 ( 24.16%). There's also some housing in Fairhaven built between 2000 and later ( 5.33%).

Vacant housing appears to be an issue in Fairhaven. Fully 10.21% of the housing stock is classified as vacant. Left unchecked, vacant Fairhaven homes and apartments can be a drag on the real estate market, holding Fairhaven 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.

Fairhaven Home Appreciation Rates

Fairhaven's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Fairhaven during the period has been just -1.14%, which is lower than 70% of US communities.

Appreciation rates are so strong in Fairhaven that despite a nationwide downturn in the housing market, Fairhaven real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Fairhaven appreciation rates continue to be some of the highest in America, at 5.75%, which is higher than appreciation rates in 71.84% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Fairhaven. Fairhaven appreciation rates in the latest quarter were at 0.64%, which equates to an annual appreciation rate of 2.59%.

Relative to Massachusetts, our data show that Fairhaven's latest annual appreciation rate is higher than 70% of the other cities and towns in Massachusetts.

Average Home Values

 

Median Home Value:
$303,829

Fairhaven, MA HOME PRICES

Value Range
> $1,122,000 0.8
$841,001 - $1,122,000 0.9
$561,001 - $841,000 2.7
$449,001 - $561,000 5.9
$337,001 - $449,000 22.6
$224,001 - $337,000 49.5
$112,001 - $224,000 14.3
$56,001 - $112,000 0.4
$0 - $56,000 2.9

Low for MA
Very High for Nation

Value Relative to Nation Value Relative to State
16.0142974334935 69.2307692307692

Number Of Homes And Apartments:
6,687

Fairhaven Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
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
66.50% 3.00% 9 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,208 / per month

Homeownership Rate

Homeownership
Owners 71.60
Renters 28.40
Vacant 10.21

Housing Market Details

 

Age of Homes

AGE OF Fairhaven HOMES
2000 or Newer 5.3
1970 - 1999 24.2
1940 - 1969 32.7
1939 or Older 37.8

Types of Homes

TYPE OF Fairhaven HOMES
Single-Family 73.5
Townhomes 3.1
Small Apt. Buildings 13.7
Apt. Complexes 9.3
Mobile Homes 0.5
Other 0.0

Home Size

SIZE OF Fairhaven HOMES
No Bedroom 0.97
1 Bedroom 14.23
2 Bedrooms 29.50
3 Bedrooms 38.96
4 Bedrooms 12.96
5 or more bedrooms 3.38