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 2,838 people, 1,232 houses or apartments, and a median cost of homes of $188,058, house prices in Fayetteville are solidly below the national average.
Single-family detached homes are the single most common housing type in Fayetteville, accounting for 88.43% of the town's housing units. Other types of housing that are prevalent in Fayetteville include large apartment complexes or high rise apartments ( 6.40%), duplexes, homes converted to apartments or other small apartment buildings ( 2.84%), and a few mobile homes or trailers ( 2.33%).
Dwellings in Fayetteville tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 51.09% of the homes in Fayetteville have two or fewer bedrooms.
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. Fayetteville's housing was primarily built during this period, from the '40s through the '60s. A full 43.45% of the town's housing hails from this era. Other housing ages represented in Fayetteville include homes built between 1970-1999 ( 34.43%) and housing constructed between 2000 and later ( 12.74%). There's also some housing in Fayetteville built before 1939 ( 9.39%).
Vacant housing appears to be an issue in Fayetteville. Fully 10.33% of the housing stock is classified as vacant. Left unchecked, vacant Fayetteville homes and apartments can be a drag on the real estate market, holding Fayetteville 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.
Some of the lowest real estate appreciation rates in America over the last ten years have been in Fayetteville, where house values have increased just 48.62%, which is annualized rate of 4.04%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Appreciation rates are so strong in Fayetteville that despite a nationwide downturn in the housing market, Fayetteville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Fayetteville appreciation rates continue to be some of the highest in America, at 8.26%, which is higher than appreciation rates in 72.74% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Fayetteville. Fayetteville appreciation rates in the latest quarter were at -3.95%, which equates to an annual appreciation rate of -14.88%.
Notably, Fayetteville's appreciation rate in the latest quarter is one of the lowest in America.
Relative to West Virginia, our data show that Fayetteville's latest annual appreciation rate is lower than 70% of the other cities and towns in West Virginia.
$188,058
for West virginia
for nation
1,232
$1,744 / per month