Fair Lawn, NJ 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

Fair Lawn, NJ Housing Market Trends

With a population of 32,896, 11,387 total housing units (homes and apartments), and a median house value of $487,758, real estate costs in Fair Lawn are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive New Jersey communities.

Single-family detached homes are the single most common housing type in Fair Lawn, accounting for 76.20% of the borough's housing units. Other types of housing that are prevalent in Fair Lawn include duplexes, homes converted to apartments or other small apartment buildings ( 11.41%), large apartment complexes or high rise apartments ( 8.87%), and a few row houses and other attached homes ( 3.37%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Fair Lawn. Owner-occupied housing accounts for 78.83% of Fair Lawn's homes, and 66.57% 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. Fair Lawn's housing was primarily built during this period, from the '40s through the '60s. A full 71.84% of the borough's housing hails from this era. Other housing ages represented in Fair Lawn include homes built before 1939 ( 13.29%) and housing constructed between 1970-1999 ( 9.78%). There's also some housing in Fair Lawn built between 2000 and later ( 5.09%).

Fair Lawn Home Appreciation Rates

Fair Lawn's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Fair Lawn during the period has been just 2.08%, which is lower than 70% of US communities.

Over the last year, Fair Lawn appreciation rates have trailed the rest of the nation. In the last twelve months, Fair Lawn's appreciation rate has been 4.33%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Fair Lawn were at 1.68%, which equates to an annual appreciation rate of 6.89%.

Relative to New Jersey, our data show that Fair Lawn's latest annual appreciation rate is lower than 80% of the other cities and towns in New Jersey.

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

Average Home Values

 

Median Home Value:
$487,758

Fair Lawn, NJ HOME PRICES

> $1,125,000
0.6%
0.6%
$843,001 - $1,125,000
2.9%
2.9%
$562,001 - $843,000
22.3%
22.3%
$450,001 - $562,000
30.4%
30.4%
$338,001 - $450,000
32.4%
32.4%
$225,001 - $338,000
8.7%
8.7%
$113,001 - $225,000
0.9%
0.9%
$56,001 - $113,000
0.6%
0.6%
$0 - $56,000
1.1%
1.1%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

High for NJ

Value Relative To Nation

Number Of Homes And Apartments:
11,387

Fair Lawn Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
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
82.41% 2.87%
6
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,924 / per month

Homeownership Rate

Owners
78.8%
78.8%
Renters
21.2%
21.2%
Vacant
3.2%
3.2%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
5.1%
5.1%
1970 - 1999
9.8%
9.8%
1940 - 1969
71.8%
71.8%
1939 or Older
13.3%
13.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
76.2%
76.2%
Townhomes
3.4%
3.4%
Small Apt. Buildings
11.4%
11.4%
Apt. Complexes
8.9%
8.9%
Mobile Homes
0.2%
0.2%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.2%
1.2%
1 Bedroom
9.2%
9.2%
2 Bedrooms
15.5%
15.5%
3 Bedrooms
39.8%
39.8%
4 Bedrooms
26.8%
26.8%
5 or more bedrooms
7.5%
7.5%
0.0% 100.0%
% OF HOMES