Fall River MA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Fall River, 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 Q3 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Fall River Housing Market Information

With a population of 89,661, 38,611 total housing units (homes and apartments), and a median house value of $288,227, Fall River real estate values are some of the lowest in Massachusetts, although compared to real estate around the nation, Fall River homes are still considered rather expensive.

Duplexes, homes converted to apartments or other small apartment buildings are the single most common housing type in Fall River, accounting for 45.72% of the city's housing units. Other types of housing that are prevalent in Fall River include large apartment complexes or high rise apartments ( 29.60%), single-family detached homes ( 22.74%), and a few row houses and other attached homes ( 1.71%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and often have a lively downtown.

People in Fall River primarily live in small (one, two or no bedroom) units, chiefly found in duplexes, homes converted to apartments or other small apartment buildings. Fall River has a mixture of owner-occupied and renter-occupied housing.

The housing in Fall River was primarily built before 1939 ( 58.72%), making the housing stock in Fall River some of the oldest overall in America, although there is a range of ages of homes in Fall River. The next most important housing age is between 1970-1999 ( 19.06%), followed by between 1940-1969 ( 17.52%). There's also some housing in Fall River built between 2000 and later ( 4.70%).

Vacant housing appears to be an issue in Fall River. Fully 11.09% of the housing stock is classified as vacant. Left unchecked, vacant Fall River homes and apartments can be a drag on the real estate market, holding Fall River 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.

Fall River Home Appreciation Rates

Appreciation rates for homes in Fall River have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 21.86%, which ranks in the top 50% nationwide. This equates to an annual average Fall River house appreciation rate of 2.00%.

NeighborhoodScout's data show that during the latest twelve months, Fall River's appreciation rate, at 4.14%, has been at or slightly above the national average. In the latest quarter, Fall River's appreciation rate has been 1.32%, which annualizes to a rate of 5.39%.

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

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Fall River differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Fall River - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Fall River real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$288,227

Fall River, MA HOME PRICES

Value Range
> $1,243,000 0.5
$932,001 - $1,243,000 0.9
$621,001 - $932,000 2.3
$497,001 - $621,000 2.6
$373,001 - $497,000 11.2
$249,001 - $373,000 49.2
$124,001 - $249,000 26.8
$62,001 - $124,000 3.6
$0 - $62,000 3.0

Very Low for MA
High for Nation

Value Relative to Nation Value Relative to State
21.821897810219 82.6923076923077

Number Of Homes And Apartments:
38,611

Fall River Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
2019 Q2 - 2019 Q3
Last 12 Months:
2018 Q3 - 2019 Q3
Last 2 Years:
2017 Q3 - 2019 Q3
Last 5 Years:
2014 Q3 - 2019 Q3
Last 10 Years:
2009 Q3 - 2019 Q3
Since 2000:
2000 Q1 - 2019 Q3
75.31% 2.88%
7
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,076 / per month

Homeownership Rate

Homeownership
Owners 35.62
Renters 64.38
Vacant 11.09

Housing Market Details

 

Age of Homes

AGE OF Fall River HOMES
2000 or Newer 4.7
1970 - 1999 19.1
1940 - 1969 17.5
1939 or Older 58.7

Types of Homes

TYPE OF Fall River HOMES
Single-Family 22.7
Townhomes 1.7
Small Apt. Buildings 45.7
Apt. Complexes 29.6
Mobile Homes 0.1
Other 0.1

Home Size

SIZE OF Fall River HOMES
No Bedroom 2.05
1 Bedroom 13.65
2 Bedrooms 37.33
3 Bedrooms 39.19
4 Bedrooms 5.80
5 or more bedrooms 1.98