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 3,887 people, 1,677 houses or apartments, and a median cost of homes of $171,282, house prices in Fairbury are solidly below the national average.
Single-family detached homes are the single most common housing type in Fairbury, accounting for 80.02% of the city's housing units. Other types of housing that are prevalent in Fairbury include large apartment complexes or high rise apartments ( 10.07%), duplexes, homes converted to apartments or other small apartment buildings ( 7.99%), and a few row houses and other attached homes ( 1.72%).
People in Fairbury primarily live in small (one, two or no bedroom) single-family detached homes. Fairbury has a mixture of owner-occupied and renter-occupied housing.
The housing in Fairbury was primarily built before 1939 ( 47.34%), making the housing stock in Fairbury some of the oldest overall in America, although there is a range of ages of homes in Fairbury. The next most important housing age is between 1940-1969 ( 29.44%), followed by between 1970-1999 ( 19.73%). There's also some housing in Fairbury built between 2000 and later ( 3.49%).
Vacant housing appears to be an issue in Fairbury. Fully 15.17% of the housing stock is classified as vacant. Left unchecked, vacant Fairbury homes and apartments can be a drag on the real estate market, holding Fairbury 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.
Fairbury's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Fairbury during the period has been just 4.80%, which is lower than 80% of US communities.
Appreciation rates are so strong in Fairbury that despite a nationwide downturn in the housing market, Fairbury real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Fairbury appreciation rates continue to be some of the highest in America, at 9.40%, which is higher than appreciation rates in 83.59% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Fairbury. Fairbury appreciation rates in the latest quarter were at 5.45%, which equates to an annual appreciation rate of 23.63%.
Importantly, this makes Fairbury 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 Nebraska, our data show that Fairbury's latest annual appreciation rate is higher than 90% of the other cities and towns in Nebraska.
$171,282
for Nebraska
for nation
1,677
$1,010 / per month