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 about Scout's Real Estate Data
With a population of 15,837, 6,985 total housing units (homes and apartments), and a median house value of $521,020, Fairhaven real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Fairhaven, accounting for 67.96% of the town's housing units. Other types of housing that are prevalent in Fairhaven include duplexes, homes converted to apartments or other small apartment buildings ( 15.68%), large apartment complexes or high rise apartments ( 13.06%), and a few row houses and other attached homes ( 3.14%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Fairhaven. Owner-occupied housing accounts for 72.67% of Fairhaven's homes, and 51.78% have either three or four bedrooms, which is average sized relative to America.
The housing in Fairhaven was primarily built before 1939 ( 36.40%), making the housing stock in Fairhaven some of the oldest overall in America, although there is a range of ages of homes in Fairhaven. The next most important housing age is between 1940-1969 ( 35.13%), followed by between 1970-1999 ( 20.80%). There's also some housing in Fairhaven built between 2000 and later ( 7.68%).
Appreciation rates for homes in Fairhaven have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 92.97%, which ranks in the top 50% nationwide. This equates to an annual average Fairhaven house appreciation rate of 6.79%.
NeighborhoodScout's data show that during the latest twelve months, Fairhaven's appreciation rate, at 6.41%, has been at or slightly above the national average. In the latest quarter, Fairhaven's appreciation rate has been 2.99%, which annualizes to a rate of 12.50%.
Importantly, this makes Fairhaven one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Massachusetts, our data show that Fairhaven's latest annual appreciation rate is lower than 70% of the other cities and towns in Massachusetts.
$521,020
for Massachusetts
for nation
6,985
$2,365 / per month