Fair Lawn, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Fair Lawn, NJ Real Estate Data


Fair Lawn Housing Market Information

With a population of 33,597, 11,766 total housing units (homes and apartments), and a median house value of $422,262, real estate costs in Fair Lawn are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive New Jersey communities.

Single-family detached homes are the single most common housing type in Fair Lawn, accounting for 77.56% of the borough's housing units. Other types of housing that are prevalent in Fair Lawn include duplexes, homes converted to apartments or other small apartment buildings ( 11.30%), large apartment complexes or high rise apartments ( 7.71%), and a few row houses and other attached homes ( 3.08%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Fair Lawn. Owner-occupied housing accounts for 76.89% of Fair Lawn's homes, and 66.32% have either three or four bedrooms, which is average sized relative to America.

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. Fair Lawn's housing was primarily built during this period, from the '40s through the '60s. A full 71.28% of the borough's housing hails from this era. Other housing ages represented in Fair Lawn include homes built before 1939 ( 15.51%) and housing constructed between 1970-1999 ( 9.71%). There's also some housing in Fair Lawn built between 2000 and later ( 3.49%).

Fair Lawn Home Appreciation Rates

Fair Lawn's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Fair Lawn during the period has been just -1.20%, which is lower than 70% of US communities.

Over the last year, Fair Lawn appreciation rates have trailed the rest of the nation. In the last twelve months, Fair Lawn's appreciation rate has been 2.85%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Fair Lawn were at 0.54%, which equates to an annual appreciation rate of 2.17%.

Relative to New Jersey, our data show that Fair Lawn's latest annual appreciation rate is lower than 50% of the other cities and towns in New Jersey.

One very important thing to keep in mind is that these are average appreciation rates for the borough. Individual neighborhoods within Fair Lawn differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Fair Lawn - 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 Fair Lawn real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$422,262

Fair Lawn, NJ HOME PRICES

Value Range
> $1,084,000 0.0
$814,001 - $1,084,000 1.9
$542,001 - $814,000 15.0
$434,001 - $542,000 27.4
$325,001 - $434,000 40.7
$217,001 - $325,000 11.8
$108,001 - $217,000 1.0
$54,001 - $108,000 0.3
$0 - $54,000 1.9

High for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
8.28547990155866 35.3658536585366

Number Of Homes And Apartments:
11,766

Rent & Ownership

 

Average Market Rent:
$1,957 / per month

Homeownership Rate

Homeownership
Owners 76.89
Renters 23.11
Vacant 2.60

Housing Market Details

 

Age of Homes

AGE OF Fair Lawn HOMES
2000 or Newer 3.5
1970 - 1999 9.7
1940 - 1969 71.3
1939 or Older 15.5

Types of Homes

TYPE OF Fair Lawn HOMES
Single-Family 77.6
Townhomes 3.1
Small Apt. Buildings 11.3
Apt. Complexes 7.7
Mobile Homes 0.4
Other 0.0

Home Size

SIZE OF Fair Lawn HOMES
No Bedroom 0.94
1 Bedroom 9.53
2 Bedrooms 18.52
3 Bedrooms 39.18
4 Bedrooms 27.14
5 or more bedrooms 4.69

Fair Lawn Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
55.41% 2.59% 6 7
* 10 is highest