Fall River, MA 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

Fall River, MA Housing Market Trends

With 89,541 people, 38,456 houses or apartments, and a median cost of homes of $304,148, Fall River real estate values are some of the lowest in Massachusetts, although compared to real estate around the nation, Fall River homes are still considered rather expensive.

Duplexes, homes converted to apartments or other small apartment buildings are the single most common housing type in Fall River, accounting for 45.36% of the city's housing units. Other types of housing that are prevalent in Fall River include large apartment complexes or high rise apartments ( 29.73%), single-family detached homes ( 23.26%), and a few row houses and other attached homes ( 1.48%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

People in Fall River primarily live in small (one, two or no bedroom) units, chiefly found in duplexes, homes converted to apartments or other small apartment buildings. Fall River has a mixture of owner-occupied and renter-occupied housing.

The housing in Fall River was primarily built before 1939 ( 57.49%), making the housing stock in Fall River some of the oldest overall in America, although there is a range of ages of homes in Fall River. The next most important housing age is between 1970-1999 ( 19.18%), followed by between 1940-1969 ( 19.16%). There's also some housing in Fall River built between 2000 and later ( 4.17%).

Fall River Home Appreciation Rates

Appreciation rates for homes in Fall River have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 41.91%, which ranks in the top 40% nationwide. This equates to an annual average Fall River house appreciation rate of 3.56%.

Appreciation rates are so strong in Fall River that despite a nationwide downturn in the housing market, Fall River real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Fall River appreciation rates continue to be some of the highest in America, at 10.36%, which is higher than appreciation rates in 91.73% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Fall River. Fall River appreciation rates in the latest quarter were at 2.43%, which equates to an annual appreciation rate of 10.10%.

Relative to Massachusetts, our data show that Fall River's latest annual appreciation rate is higher than 90% of the other cities and towns in Massachusetts.

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

Average Home Values

 

Median Home Value:
$304,148

Fall River, MA HOME PRICES

> $1,258,000
1.0%
1.0%
$944,001 - $1,258,000
1.2%
1.2%
$629,001 - $944,000
4.1%
4.1%
$503,001 - $629,000
2.9%
2.9%
$378,001 - $503,000
14.8%
14.8%
$252,001 - $378,000
47.4%
47.4%
$126,001 - $252,000
22.5%
22.5%
$63,001 - $126,000
4.1%
4.1%
$0 - $63,000
1.9%
1.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very Low for MA

Value Relative To Nation

Number Of Homes And Apartments:
38,456

Fall River Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
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
94.54% 3.18%
7
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,198 / per month

Homeownership Rate

Owners
35.7%
35.7%
Renters
64.3%
64.3%
Vacant
9.9%
9.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
4.2%
4.2%
1970 - 1999
19.2%
19.2%
1940 - 1969
19.2%
19.2%
1939 or Older
57.5%
57.5%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
23.3%
23.3%
Townhomes
1.5%
1.5%
Small Apt. Buildings
45.4%
45.4%
Apt. Complexes
29.7%
29.7%
Mobile Homes
0.1%
0.1%
Other
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.0%
2.0%
1 Bedroom
13.2%
13.2%
2 Bedrooms
38.7%
38.7%
3 Bedrooms
39.1%
39.1%
4 Bedrooms
5.5%
5.5%
5 or more bedrooms
1.5%
1.5%
0.0% 100.0%
% OF HOMES