Fallon, NV
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Fallon Neighborhoods Since 2000




Fallon, NV 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

Fallon Housing Market Information

With a population of 8,458, 3,412 total housing units (homes and apartments), and a median house value of $168,557, Fallon real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Fallon, accounting for 62.35% of the city's housing units. Other types of housing that are prevalent in Fallon include large apartment complexes or high rise apartments ( 13.05%), duplexes, homes converted to apartments or other small apartment buildings ( 12.69%), and a few mobile homes or trailers ( 6.42%).

The most prevalent building size and type in Fallon are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 36.22% owning and 63.78% renting.

There is a lot of housing in Fallon built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Fallon built between 1940-1969 ( 21.88%). A lesser amount of the housing stock also hails from between 2000 and later ( 21.49%). There's also some housing in Fallon built before 1939 ( 3.70%).

Vacant housing appears to be an issue in Fallon. Fully 12.38% of the housing stock is classified as vacant. Left unchecked, vacant Fallon homes and apartments can be a drag on the real estate market, holding Fallon 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.

Fallon Home Appreciation Rates

Fallon's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Fallon during the period has been just -1.83%, which is lower than 80% of US communities.

Appreciation rates are so strong in Fallon that despite a nationwide downturn in the housing market, Fallon real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Fallon appreciation rates continue to be some of the highest in America, at 10.97%, which is higher than appreciation rates in 95.96% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Fallon. Fallon appreciation rates in the latest quarter were at 4.32%, which equates to an annual appreciation rate of 18.45%.

Importantly, this makes Fallon one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

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

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

Average Home Values

 

Median Home Value:
$168,557

Fallon, NV HOME PRICES

Value Range
> $1,340,000 0.1
$1,004,001 - $1,340,000 0.0
$670,001 - $1,004,000 0.2
$536,001 - $670,000 0.9
$402,001 - $536,000 3.1
$268,001 - $402,000 5.8
$134,001 - $268,000 51.2
$67,001 - $134,000 22.4
$0 - $67,000 16.4

Average for NV
Average for Nation

Value Relative to Nation Value Relative to State
42.1539903902496 54.0

Number Of Homes And Apartments:
3,412

Fallon Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NV*
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
46.06% 2.22% 3 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,155 / per month

Homeownership Rate

Homeownership
Owners 36.22
Renters 63.78
Vacant 12.38

Housing Market Details

 

Age of Homes

AGE OF Fallon HOMES
2000 or Newer 21.5
1970 - 1999 52.9
1940 - 1969 21.9
1939 or Older 3.7

Types of Homes

TYPE OF Fallon HOMES
Single-Family 62.4
Townhomes 5.5
Small Apt. Buildings 12.7
Apt. Complexes 13.0
Mobile Homes 6.4
Other 0.0

Home Size

SIZE OF Fallon HOMES
No Bedroom 0.80
1 Bedroom 14.66
2 Bedrooms 25.19
3 Bedrooms 48.79
4 Bedrooms 9.09
5 or more bedrooms 1.46