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 93,682 people, 41,113 houses or apartments, and a median cost of homes of $463,950, 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 45.82% of the city's housing units. Other types of housing that are prevalent in Fall River include large apartment complexes or high rise apartments ( 28.29%), single-family detached homes ( 23.10%), and a few row houses and other attached homes ( 2.21%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and often have a lively downtown.
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 ( 47.10%), 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 1940-1969 ( 23.61%), followed by between 1970-1999 ( 23.54%). There's also some housing in Fall River built between 2000 and later ( 5.75%).
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 106.93%, which ranks in the top 30% nationwide. This equates to an annual average Fall River house appreciation rate of 7.54%.
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 9.21%, which is higher than appreciation rates in 82.27% 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 2.99%, which equates to an annual appreciation rate of 12.50%.
Importantly, this makes Fall River one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Massachusetts, our data show that Fall River's latest annual appreciation rate is higher than 70% 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.
$463,950
for Massachusetts
for nation
41,113
$2,115 / per month