Fairfax, SC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Fairfax Neighborhoods Since 2000




Fairfax, SC Real Estate Data


Fairfax Housing Market Information

With a population of 1,822, 702 total housing units (homes and apartments), and a median house value of $68,181, 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 69.39% of the town's housing units. Other types of housing that are prevalent in Fairfax include mobile homes or trailers ( 14.89%), large apartment complexes or high rise apartments ( 14.18%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.54%).

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 45.59% owning and 54.41% 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 ( 28.72%). A lesser amount of the housing stock also hails from before 1939 ( 14.54%). There's also some housing in Fairfax built between 2000 and later ( 4.96%).

Vacant housing appears to be an issue in Fairfax. Fully 17.02% 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

Appreciation rates for homes in Fairfax have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 3.55%, which ranks in the top 50% nationwide. This equates to an annual average Fairfax house appreciation rate of 0.35%.

NeighborhoodScout's data show that during the latest twelve months, Fairfax's appreciation rate, at 4.94%, has been at or slightly above the national average. In the latest quarter, Fairfax's appreciation rate has been -0.61%, which annualizes to a rate of -2.43%.

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

Relative to South Carolina, our data show that Fairfax's latest annual appreciation rate is lower than 60% of the other cities and towns in South Carolina.

Average Home Values

 

Median Home Value:
$68,181

Fairfax, SC HOME PRICES

Value Range
> $1,050,000 0.0
$787,001 - $1,050,000 0.0
$525,001 - $787,000 0.0
$420,001 - $525,000 5.1
$315,001 - $420,000 0.0
$210,001 - $315,000 10.8
$105,001 - $210,000 15.3
$52,001 - $105,000 16.2
$0 - $52,000 52.6

Very Low for SC
Very Low for Nation

Value Relative to Nation Value Relative to State
96.2581249634011 89.5910780669145

Number Of Homes And Apartments:
702

Rent & Ownership

 

Average Market Rent:
$991 / per month

Homeownership Rate

Homeownership
Owners 45.59
Renters 54.41
Vacant 17.02

Housing Market Details

 

Age of Homes

AGE OF Fairfax HOMES
2000 or Newer 5.0
1970 - 1999 51.8
1940 - 1969 28.7
1939 or Older 14.5

Types of Homes

TYPE OF Fairfax HOMES
Single-Family 69.4
Townhomes 0.0
Small Apt. Buildings 1.5
Apt. Complexes 14.2
Mobile Homes 14.9
Other 0.0

Home Size

SIZE OF Fairfax HOMES
No Bedroom 0.59
1 Bedroom 12.29
2 Bedrooms 19.27
3 Bedrooms 52.72
4 Bedrooms 12.29
5 or more bedrooms 2.84

Fairfax Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
SC*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
24.73% 1.31% 3 2
* 10 is highest

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Zip Codes in Fairfax, SC