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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 89,661, 38,660 total housing units (homes and apartments), and a median house value of $284,884, 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 46.51% of the city's housing units. Other types of housing that are prevalent in Fall River include large apartment complexes or high rise apartments ( 29.18%), single-family detached homes ( 22.44%), and a few row houses and other attached homes ( 1.69%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.
Fall River is dominated by renter-occupied one, two, or no bedrooms apartments. 65.24% of Fall River's dwellings are rentals.
The housing in Fall River was primarily built before 1939 ( 59.70%), 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 1940-1969 ( 18.04%), followed by between 1970-1999 ( 17.91%). There's also some housing in Fall River built between 2000 and later ( 4.35%).
Vacant housing appears to be an issue in Fall River. Fully 10.53% 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.
Real estate appreciation rates in Fall River's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 2.38% during the period.
Over the last year, Fall River appreciation rates have trailed the rest of the nation. In the last twelve months, Fall River's appreciation rate has been 3.65%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Fall River were at 0.84%, which equates to an annual appreciation rate of 3.39%.
Relative to Massachusetts, our data show that Fall River's latest annual appreciation rate is lower than 70% 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.
|$909,001 - $1,212,000||1.5|
|$606,001 - $909,000||2.9|
|$484,001 - $606,000||2.6|
|$363,001 - $484,000||13.2|
|$242,001 - $363,000||50.6|
|$121,001 - $242,000||21.5|
|$61,001 - $121,000||4.6|
|$0 - $61,000||2.5|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
2000 Q1 - 2020 Q2
|* 10 is highest|
|AGE OF Fall River HOMES|
|2000 or Newer||4.3|
|1970 - 1999||17.9|
|1940 - 1969||18.0|
|1939 or Older||59.7|
|TYPE OF Fall River HOMES|
|Small Apt. Buildings||46.5|
|SIZE OF Fall River HOMES|
|5 or more bedrooms||1.90|