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 773 people, 437 houses or apartments, and a median cost of homes of $200,256, house prices in Fairmount are solidly below the national average.
Single-family detached homes are the single most common housing type in Fairmount, accounting for 88.39% of the city's housing units. Other types of housing that are prevalent in Fairmount include mobile homes or trailers ( 9.67%), large apartment complexes or high rise apartments ( 1.93%).
The most prevalent building size and type in Fairmount are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 62.01% owning and 37.99% renting.
There is a lot of housing in Fairmount built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Fairmount built between 1940-1969 ( 24.76%). A lesser amount of the housing stock also hails from before 1939 ( 6.58%). There's also some housing in Fairmount built between 2000 and later ( 5.61%).
Vacant housing appears to be an issue in Fairmount. Fully 15.47% of the housing stock is classified as vacant. Left unchecked, vacant Fairmount homes and apartments can be a drag on the real estate market, holding Fairmount real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
In the last 10 years, Fairmount has experienced some of the highest home appreciation rates of any community in the nation. Fairmount real estate appreciated 154.60% over the last ten years, which is an average annual home appreciation rate of 9.80%, putting Fairmount in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Fairmount definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Fairmount that despite a nationwide downturn in the housing market, Fairmount real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Fairmount appreciation rates continue to be some of the highest in America, at 6.97%, which is higher than appreciation rates in 74.08% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Fairmount. Fairmount appreciation rates in the latest quarter were at 1.22%, which equates to an annual appreciation rate of 4.98%.
Relative to Georgia, our data show that Fairmount's latest annual appreciation rate is higher than 50% of the other cities and towns in Georgia.
$200,256
for Georgia
for nation
437
$1,841 / per month