Fairhaven, MA 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 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

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

Fairhaven, MA Housing Market Trends

With 16,078 people, 6,392 houses or apartments, and a median cost of homes of $343,378, 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 72.40% 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 ( 15.65%), large apartment complexes or high rise apartments ( 8.05%), and a few row houses and other attached homes ( 3.90%).

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 73.89% of Fairhaven's homes, and 56.91% have either three or four bedrooms, which is average sized relative to America.

The housing in Fairhaven was primarily built before 1939 ( 38.28%), 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 ( 35.11%), followed by between 1970-1999 ( 18.59%). There's also some housing in Fairhaven built between 2000 and later ( 8.02%).

Vacant housing appears to be an issue in Fairhaven. Fully 10.99% 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

Appreciation rates for homes in Fairhaven have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 41.39%, which ranks in the top 40% nationwide. This equates to an annual average Fairhaven house appreciation rate of 3.52%.

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 6.40%, which is higher than appreciation rates in 71.77% 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 2.57%, which equates to an annual appreciation rate of 10.67%.

Relative to Massachusetts, our data show that Fairhaven's latest annual appreciation rate is higher than 80% of the other cities and towns in Massachusetts.

Average Home Values

 

Median Home Value:
$343,378

Fairhaven, MA HOME PRICES

> $1,232,000
1.0%
1.0%
$924,001 - $1,232,000
2.2%
2.2%
$616,001 - $924,000
4.1%
4.1%
$493,001 - $616,000
7.3%
7.3%
$370,001 - $493,000
23.7%
23.7%
$247,001 - $370,000
49.0%
49.0%
$123,001 - $247,000
10.3%
10.3%
$62,001 - $123,000
0.1%
0.1%
$0 - $62,000
2.3%
2.3%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Low for MA

Value Relative To Nation

Number Of Homes And Apartments:
6,392

Fairhaven Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
114.82% 3.71%
10
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,614 / per month

Homeownership Rate

Owners
73.9%
73.9%
Renters
26.1%
26.1%
Vacant
11.0%
11.0%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
8.0%
8.0%
1970 - 1999
18.6%
18.6%
1940 - 1969
35.1%
35.1%
1939 or Older
38.3%
38.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
72.4%
72.4%
Townhomes
3.9%
3.9%
Small Apt. Buildings
15.7%
15.7%
Apt. Complexes
8.0%
8.0%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.3%
1.3%
1 Bedroom
10.5%
10.5%
2 Bedrooms
27.9%
27.9%
3 Bedrooms
41.9%
41.9%
4 Bedrooms
15.0%
15.0%
5 or more bedrooms
3.4%
3.4%
0.0% 100.0%
% OF HOMES