Fairfield, CT 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 Q1 2021. 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

Fairfield, CT Housing Market Trends

With 62,045 people, 20,641 houses or apartments, and a median cost of homes of $721,076, Fairfield house prices are not only among the most expensive in Connecticut, Fairfield real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Fairfield, accounting for 79.30% of the town's housing units. Other types of housing that are prevalent in Fairfield include duplexes, homes converted to apartments or other small apartment buildings ( 9.26%), row houses and other attached homes ( 6.46%), and a few large apartment complexes or high rise apartments ( 4.69%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Fairfield. Owner-occupied housing accounts for 76.15% of Fairfield's homes, and 67.83% 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. Fairfield's housing was primarily built during this period, from the '40s through the '60s. A full 47.64% of the town's housing hails from this era. Other housing ages represented in Fairfield include homes built between 1970-1999 ( 23.28%) and housing constructed before 1939 ( 20.42%). There's also some housing in Fairfield built between 2000 and later ( 8.66%).

Fairfield Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Fairfield, where house values have increased just 14.17%, which is annualized rate of 1.33%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

NeighborhoodScout's data show that during the latest twelve months, Fairfield's appreciation rate, at 7.41%, has been at or slightly above the national average. In the latest quarter, Fairfield's appreciation rate has been 2.68%, which annualizes to a rate of 11.16%.

Importantly, this makes Fairfield 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 Connecticut, our data show that Fairfield's latest annual appreciation rate is lower than 60% of the other cities and towns in Connecticut.

One very important thing to keep in mind is that these are average appreciation rates for the town. 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:
$721,076

Fairfield, CT HOME PRICES

> $1,098,000
14.3%
14.3%
$824,001 - $1,098,000
18.2%
18.2%
$549,001 - $824,000
29.8%
29.8%
$439,001 - $549,000
15.6%
15.6%
$330,001 - $439,000
13.8%
13.8%
$219,001 - $330,000
5.8%
5.8%
$110,001 - $219,000
1.5%
1.5%
$55,001 - $110,000
0.5%
0.5%
$0 - $55,000
0.6%
0.6%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for CT

Value Relative To Nation

Number Of Homes And Apartments:
20,641

Fairfield Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CT*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
62.79% 2.32%
9
4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,686 / per month

Homeownership Rate

Owners
76.1%
76.1%
Renters
23.9%
23.9%
Vacant
6.9%
6.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
8.7%
8.7%
1970 - 1999
23.3%
23.3%
1940 - 1969
47.6%
47.6%
1939 or Older
20.4%
20.4%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
79.3%
79.3%
Townhomes
6.5%
6.5%
Small Apt. Buildings
9.3%
9.3%
Apt. Complexes
4.7%
4.7%
Mobile Homes
0.1%
0.1%
Other
0.2%
0.2%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.4%
0.4%
1 Bedroom
3.9%
3.9%
2 Bedrooms
18.2%
18.2%
3 Bedrooms
36.4%
36.4%
4 Bedrooms
31.4%
31.4%
5 or more bedrooms
9.8%
9.8%
0.0% 100.0%
% OF HOMES