Fairmont, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Fairmont Neighborhoods Since 2000




Fairmont, NC 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

Fairmont Housing Market Information

With a population of 2,697, 1,096 total housing units (homes and apartments), and a median house value of $76,041, house prices in Fairmont are some of the most affordable in North Carolina as well as the nation.

Single-family detached homes are the single most common housing type in Fairmont, accounting for 66.72% of the town's housing units. Other types of housing that are prevalent in Fairmont include duplexes, homes converted to apartments or other small apartment buildings ( 18.58%), mobile homes or trailers ( 6.96%), and a few large apartment complexes or high rise apartments ( 5.69%).

The most prevalent building size and type in Fairmont are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 47.67% owning and 52.33% renting.

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. Fairmont's housing was primarily built during this period, from the '40s through the '60s. A full 44.82% of the town's housing hails from this era. Other housing ages represented in Fairmont include homes built between 1970-1999 ( 38.50%) and housing constructed before 1939 ( 10.67%). There's also some housing in Fairmont built between 2000 and later ( 6.01%).

Vacant housing appears to be an issue in Fairmont. Fully 13.36% of the housing stock is classified as vacant. Left unchecked, vacant Fairmont homes and apartments can be a drag on the real estate market, holding Fairmont 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.

Fairmont Home Appreciation Rates

Real estate appreciation rates in Fairmont's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.73% during the period.

Over the last year, Fairmont appreciation rates have trailed the rest of the nation. In the last twelve months, Fairmont's appreciation rate has been 2.65%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Fairmont were at -0.54%, which equates to an annual appreciation rate of -2.13%.

Notably, Fairmont's appreciation rate in the latest quarter is one of the lowest in America.

Relative to North Carolina, our data show that Fairmont's latest annual appreciation rate is lower than 50% of the other cities and towns in North Carolina.

Average Home Values

 

Median Home Value:
$76,041

Fairmont, NC HOME PRICES

Value Range
> $1,049,000 2.6
$787,001 - $1,049,000 0.0
$524,001 - $787,000 0.0
$420,001 - $524,000 0.7
$315,001 - $420,000 0.7
$210,001 - $315,000 7.7
$105,001 - $210,000 16.4
$52,001 - $105,000 41.4
$0 - $52,000 30.5

Very Low for NC
Very Low for Nation

Value Relative to Nation Value Relative to State
92.6901441462557 94.9183303085299

Number Of Homes And Apartments:
1,096

Fairmont Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
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
31.29% 1.59% 7 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$550 / per month

Homeownership Rate

Homeownership
Owners 47.67
Renters 52.33
Vacant 13.36

Housing Market Details

 

Age of Homes

AGE OF Fairmont HOMES
2000 or Newer 6.0
1970 - 1999 38.5
1940 - 1969 44.8
1939 or Older 10.7

Types of Homes

TYPE OF Fairmont HOMES
Single-Family 66.7
Townhomes 2.1
Small Apt. Buildings 18.6
Apt. Complexes 5.7
Mobile Homes 7.0
Other 0.0

Home Size

SIZE OF Fairmont HOMES
No Bedroom 0.32
1 Bedroom 12.25
2 Bedrooms 26.25
3 Bedrooms 45.93
4 Bedrooms 11.94
5 or more bedrooms 3.32

Popular Neighborhoods in Fairmont

Zip Codes in Fairmont, NC