Fairfield, OH Real Estate Market

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 Q4 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Fairfield, OH Housing Market Trends

With 44,907 people, 17,447 houses or apartments, and a median cost of homes of $198,374, house prices in Fairfield are solidly below the national average.

Single-family detached homes are the single most common housing type in Fairfield, accounting for 56.20% of the city's housing units. Other types of housing that are prevalent in Fairfield include large apartment complexes or high rise apartments ( 28.45%), row houses and other attached homes ( 6.37%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.06%).

The most prevalent building size and type in Fairfield are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 61.69% owning and 38.31% renting.

There is a lot of housing in Fairfield 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 Fairfield built between 1940-1969 ( 20.32%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.67%). There's also some housing in Fairfield built before 1939 ( 1.74%).

Fairfield Home Appreciation Rates

Appreciation rates for homes in Fairfield have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 60.24%, which ranks in the top 50% nationwide. This equates to an annual average Fairfield house appreciation rate of 4.83%.

NeighborhoodScout's data show that during the latest twelve months, Fairfield's appreciation rate, at 18.05%, has been at or slightly above the national average. In the latest quarter, Fairfield's appreciation rate has been 7.43%, which annualizes to a rate of 33.21%.

Relative to Ohio, our data show that Fairfield's latest annual appreciation rate is higher than 60% of the other cities and towns in Ohio.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Fairfield differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Fairfield - 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 Fairfield real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$198,374

Fairfield, OH HOME PRICES

> $1,330,000
$998,001 - $1,330,000
$665,001 - $998,000
$532,001 - $665,000
$399,001 - $532,000
$266,001 - $399,000
$133,001 - $266,000
$66,001 - $133,000
$0 - $66,000
0.1%
0.1%
0.0%
0.0%
0.8%
0.8%
0.7%
0.7%
4.9%
4.9%
19.7%
19.7%
58.8%
58.8%
10.2%
10.2%
4.9%
4.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

Average for OH

Value Relative To Nation

Number Of Homes And Apartments:
17,447

Fairfield Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OH*
Compared To
America*
Latest Quarter:
2021 Q3 - 2021 Q4
Last 12 Months:
2020 Q4 - 2021 Q4
Last 2 Years:
2019 Q4 - 2021 Q4
Last 5 Years:
2016 Q4 - 2021 Q4
Last 10 Years:
2011 Q4 - 2021 Q4
Since 2000:
2000 Q1 - 2021 Q4
62.89% 2.24%
5
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,372 / per month

Homeownership Rate

Owners
Renters
Vacant
61.7%
61.7%
38.3%
38.3%
6.6%
6.6%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
9.7%
9.7%
68.3%
68.3%
20.3%
20.3%
1.7%
1.7%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
56.2%
56.2%
6.4%
6.4%
6.1%
6.1%
28.5%
28.5%
2.9%
2.9%
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.2%
1.2%
10.0%
10.0%
30.8%
30.8%
33.6%
33.6%
22.4%
22.4%
2.0%
2.0%
0.0% 100.0%
% OF HOMES