Fairlawn, 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 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

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

Fairlawn, OH Housing Market Trends

With a population of 7,514, 3,258 total housing units (homes and apartments), and a median house value of $223,165, Fairlawn real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Fairlawn, accounting for 59.12% of the city's housing units. Other types of housing that are prevalent in Fairlawn include large apartment complexes or high rise apartments ( 22.56%), duplexes, homes converted to apartments or other small apartment buildings ( 10.26%), and a few row houses and other attached homes ( 8.06%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Fairlawn. Owner-occupied housing accounts for 65.55% of Fairlawn's homes, and 58.50% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Fairlawn's housing was primarily built during this period, from the '40s through the '60s. A full 46.61% of the city's housing hails from this era. Other housing ages represented in Fairlawn include homes built between 1970-1999 ( 40.34%) and housing constructed between 2000 and later ( 8.01%). There's also some housing in Fairlawn built before 1939 ( 5.05%).

Vacant housing appears to be an issue in Fairlawn. Fully 11.56% of the housing stock is classified as vacant. Left unchecked, vacant Fairlawn homes and apartments can be a drag on the real estate market, holding Fairlawn 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.

Fairlawn Home Appreciation Rates

Real estate appreciation rates in Fairlawn's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 2.16% during the period.

NeighborhoodScout's data show that during the latest twelve months, Fairlawn's appreciation rate, at 5.94%, has been at or slightly above the national average. In the latest quarter, Fairlawn's appreciation rate has been 2.24%, which annualizes to a rate of 9.28%.

Relative to Ohio, our data show that Fairlawn's latest annual appreciation rate is lower than 80% of the other cities and towns in Ohio.

Average Home Values

 

Median Home Value:
$223,165

Fairlawn, OH HOME PRICES

> $1,125,000
0.1%
0.1%
$843,001 - $1,125,000
0.2%
0.2%
$562,001 - $843,000
1.8%
1.8%
$450,001 - $562,000
4.9%
4.9%
$337,001 - $450,000
9.3%
9.3%
$225,001 - $337,000
22.6%
22.6%
$113,001 - $225,000
53.8%
53.8%
$56,001 - $113,000
6.6%
6.6%
$0 - $56,000
0.6%
0.6%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very High for OH

Value Relative To Nation

Number Of Homes And Apartments:
3,258

Fairlawn Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OH*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
17.24% 0.76%
2
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,052 / per month

Homeownership Rate

Owners
65.6%
65.6%
Renters
34.4%
34.4%
Vacant
11.6%
11.6%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
8.0%
8.0%
1970 - 1999
40.3%
40.3%
1940 - 1969
46.6%
46.6%
1939 or Older
5.0%
5.0%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
59.1%
59.1%
Townhomes
8.1%
8.1%
Small Apt. Buildings
10.3%
10.3%
Apt. Complexes
22.6%
22.6%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.7%
1.7%
1 Bedroom
6.5%
6.5%
2 Bedrooms
29.7%
29.7%
3 Bedrooms
39.1%
39.1%
4 Bedrooms
19.4%
19.4%
5 or more bedrooms
3.6%
3.6%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in Fairlawn

Zip Codes in Fairlawn, OH