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 19,418, 6,875 total housing units (homes and apartments), and a median house value of $234,499, Fernley real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Fernley, accounting for 79.31% of the city's housing units. Other types of housing that are prevalent in Fernley include mobile homes or trailers ( 9.81%), duplexes, homes converted to apartments or other small apartment buildings ( 5.22%), and a few large apartment complexes or high rise apartments ( 4.35%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Fernley. Owner-occupied housing accounts for 65.76% of Fernley's homes, and 80.64% have either three or four bedrooms, which is average sized relative to America.
Fernley homes and real estate are some of the newest in America. 54.62% of Fernley's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Fernley real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 39.95%), and between 1940-1969 ( 4.98%).
Vacant housing appears to be an issue in Fernley. Fully 11.80% of the housing stock is classified as vacant. Left unchecked, vacant Fernley homes and apartments can be a drag on the real estate market, holding Fernley 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.
Homes have actually lost value in Fernley over the last then years, as home values have seen a decline of 25.41% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Fernley home appreciation rates at 4.32%, which equates to an annual appreciation rate of 18.45%.
Appreciation rates are so strong in Fernley that despite a nationwide downturn in the housing market, Fernley real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Fernley appreciation rates continue to be some of the highest in America, at 14.38%, which is higher than appreciation rates in 99.16% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Fernley. Fernley appreciation rates in the latest quarter were at 4.32%, which equates to an annual appreciation rate of 18.45%.
Importantly, this makes Fernley 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 Fernley's latest annual appreciation rate is higher than 80% of the other cities and towns in Nevada.
|$1,199,001 - $1,598,000||0.0|
|$799,001 - $1,199,000||0.2|
|$639,001 - $799,000||1.9|
|$480,001 - $639,000||3.8|
|$320,001 - $480,000||11.5|
|$160,001 - $320,000||49.7|
|$80,001 - $160,000||25.8|
|$0 - $80,000||6.7|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Fernley HOMES|
|2000 or Newer||54.6|
|1970 - 1999||39.9|
|1940 - 1969||5.0|
|1939 or Older||0.4|
|TYPE OF Fernley HOMES|
|Small Apt. Buildings||5.2|
|SIZE OF Fernley HOMES|
|5 or more bedrooms||0.54|