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 a population of 9,348, 3,927 total housing units (homes and apartments), and a median house value of $194,258, house prices in Fairdale are solidly below the national average.
Single-family detached homes are the single most common housing type in Fairdale, accounting for 66.06% of the town's housing units. Other types of housing that are prevalent in Fairdale include mobile homes or trailers ( 14.99%), large apartment complexes or high rise apartments ( 11.50%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.88%).
The most prevalent building size and type in Fairdale are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 62.63% owning and 37.37% renting.
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. Fairdale's housing was primarily built during this period, from the '40s through the '60s. A full 44.21% of the town's housing hails from this era. Other housing ages represented in Fairdale include homes built between 1970-1999 ( 29.19%) and housing constructed between 2000 and later ( 19.74%). There's also some housing in Fairdale built before 1939 ( 6.86%).
Appreciation rates for homes in Fairdale have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 90.93%, which ranks in the top 50% nationwide. This equates to an annual average Fairdale house appreciation rate of 6.68%.
Appreciation rates are so strong in Fairdale that despite a nationwide downturn in the housing market, Fairdale real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Fairdale appreciation rates continue to be some of the highest in America, at 8.18%, which is higher than appreciation rates in 71.98% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Fairdale. Fairdale appreciation rates in the latest quarter were at 0.92%, which equates to an annual appreciation rate of 3.75%.
Relative to Kentucky, our data show that Fairdale's latest annual appreciation rate is higher than 80% of the other cities and towns in Kentucky.
$194,258
for Kentucky
for nation
3,927
$1,828 / per month