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 16,324 people, 7,026 houses or apartments, and a median cost of homes of $249,382, house prices in Fairview Heights are solidly below the national average.
Single-family detached homes are the single most common housing type in Fairview Heights, accounting for 72.52% of the city's housing units. Other types of housing that are prevalent in Fairview Heights include large apartment complexes or high rise apartments ( 17.25%), duplexes, homes converted to apartments or other small apartment buildings ( 6.50%), and a few mobile homes or trailers ( 2.11%).
The most prevalent building size and type in Fairview Heights are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 63.46% owning and 36.54% renting.
There is a lot of housing in Fairview Heights 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 Fairview Heights built between 1940-1969 ( 34.17%). A lesser amount of the housing stock also hails from between 2000 and later ( 20.17%). There's also some housing in Fairview Heights built before 1939 ( 4.10%).
Vacant housing appears to be an issue in Fairview Heights. Fully 12.69% of the housing stock is classified as vacant. Left unchecked, vacant Fairview Heights homes and apartments can be a drag on the real estate market, holding Fairview Heights 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.
Real estate appreciation rates in Fairview Heights's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.74% during the period.
Appreciation rates are so strong in Fairview Heights that despite a nationwide downturn in the housing market, Fairview Heights real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Fairview Heights appreciation rates continue to be some of the highest in America, at 8.78%, which is higher than appreciation rates in 78.89% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Fairview Heights. Fairview Heights appreciation rates in the latest quarter were at 1.09%, which equates to an annual appreciation rate of 4.45%.
Relative to Illinois, our data show that Fairview Heights's latest annual appreciation rate is higher than 70% of the other cities and towns in Illinois.
$249,382
for Illinois
for nation
7,026
$1,756 / per month