Fairfax, SC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Fairfax Neighborhoods Since 2000




Fairfax, SC 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

Fairfax Housing Market Information

With a population of 1,822, 703 total housing units (homes and apartments), and a median house value of $37,353, house prices in Fairfax are some of the most affordable in South Carolina as well as the nation.

Single-family detached homes are the single most common housing type in Fairfax, accounting for 72.64% of the town's housing units. Other types of housing that are prevalent in Fairfax include mobile homes or trailers ( 17.34%), large apartment complexes or high rise apartments ( 8.67%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.35%).

The most prevalent building size and type in Fairfax are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 50.72% owning and 49.28% renting.

There is a lot of housing in Fairfax 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 Fairfax built between 1940-1969 ( 26.91%). A lesser amount of the housing stock also hails from before 1939 ( 13.18%). There's also some housing in Fairfax built between 2000 and later ( 8.45%).

Vacant housing appears to be an issue in Fairfax. Fully 20.83% of the housing stock is classified as vacant. Left unchecked, vacant Fairfax homes and apartments can be a drag on the real estate market, holding Fairfax 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.

Fairfax Home Appreciation Rates

Homes have actually lost value in Fairfax over the last then years, as home values have seen a decline of 29.44% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Fairfax home appreciation rates at 1.10%, which equates to an annual appreciation rate of 4.47%.

Over the last year, Fairfax appreciation rates have trailed the rest of the nation. In the last twelve months, Fairfax's appreciation rate has been -7.02%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Fairfax were at 1.10%, which equates to an annual appreciation rate of 4.47%.

Relative to South Carolina, our data show that Fairfax's latest annual appreciation rate is lower than 90% of the other cities and towns in South Carolina.

Average Home Values

 

Median Home Value:
$37,353

Fairfax, SC HOME PRICES

Value Range
> $990,000 0.0
$742,001 - $990,000 0.0
$495,001 - $742,000 0.0
$396,001 - $495,000 1.1
$297,001 - $396,000 0.0
$198,001 - $297,000 1.9
$99,001 - $198,000 9.0
$49,001 - $99,000 23.1
$0 - $49,000 64.9

Very Low for SC
Very Low for Nation

Value Relative to Nation Value Relative to State
99.894527129966 100.0

Number Of Homes And Apartments:
703

Fairfax Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
SC*
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
10.01% 0.55% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$837 / per month

Homeownership Rate

Homeownership
Owners 50.72
Renters 49.28
Vacant 20.83

Housing Market Details

 

Age of Homes

AGE OF Fairfax HOMES
2000 or Newer 8.4
1970 - 1999 51.5
1940 - 1969 26.9
1939 or Older 13.2

Types of Homes

TYPE OF Fairfax HOMES
Single-Family 72.6
Townhomes 0.0
Small Apt. Buildings 1.4
Apt. Complexes 8.7
Mobile Homes 17.3
Other 0.0

Home Size

SIZE OF Fairfax HOMES
No Bedroom 1.58
1 Bedroom 8.22
2 Bedrooms 17.23
3 Bedrooms 61.15
4 Bedrooms 8.00
5 or more bedrooms 3.83

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Zip Codes in Fairfax, SC