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 5,381 people, 2,735 houses or apartments, and a median cost of homes of $390,665, Fairport real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Fairport, accounting for 59.26% of the village's housing units. Other types of housing that are prevalent in Fairport include duplexes, homes converted to apartments or other small apartment buildings ( 22.40%), large apartment complexes or high rise apartments ( 12.44%), and a few row houses and other attached homes ( 5.90%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Fairport. Owner-occupied housing accounts for 65.64% of Fairport's homes, and 63.67% have either three or four bedrooms, which is average sized relative to America.
The housing in Fairport was primarily built before 1939 ( 46.29%), making the housing stock in Fairport some of the oldest overall in America, although there is a range of ages of homes in Fairport. The next most important housing age is between 1940-1969 ( 22.54%), followed by between 1970-1999 ( 20.37%). There's also some housing in Fairport built between 2000 and later ( 10.81%).
Appreciation rates for homes in Fairport have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 100.20%, which ranks in the top 40% nationwide. This equates to an annual average Fairport house appreciation rate of 7.19%.
Appreciation rates are so strong in Fairport that despite a nationwide downturn in the housing market, Fairport real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Fairport appreciation rates continue to be some of the highest in America, at 8.04%, which is higher than appreciation rates in 70.65% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Fairport. Fairport appreciation rates in the latest quarter were at 5.43%, which equates to an annual appreciation rate of 23.57%.
Importantly, this makes Fairport one of the highest appreciating communities in the nation for the latest quarter, and may signal the village's near-future real estate investment strength.
Relative to New York, our data show that Fairport's latest annual appreciation rate is higher than 60% of the other cities and towns in New York.
One very important thing to keep in mind is that these are average appreciation rates for the village. Individual neighborhoods within Fairport differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Fairport - 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 Fairport real estate investment or home purchase decisions.
$390,665
$2,020 / per month