Fairfield, Ohio Housing Market Prices
Fairfield Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 89% below the Ohio median$14,915
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Median rent 20% above the Ohio median$1,243
Housing Market Overview
| Metric | Fairfield | Ohio Avg | US Average |
|---|---|---|---|
| Median Home Price | $14,915 | $139,044 | $248,835 |
| Price Trend (Annual %) | 11.2% | 6.7% | 7.5% |
| Median Gross Rent | $1,243 | $1,033 | $1,407 |
| Rent Trend (Annual %) | 5.0% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Fairfield is about 89% lower than in Ohio. Rent is about 20% higher than the Ohio average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Fairfield, up about 11.2% and 5.0% a year respectively. Home prices are changing faster.
Median rent in Fairfield rose about 49.6% between 2015 and 2024, from $830 to $1,243. Over the same span, rent in Ohio rose about 41.7%.
Affordability
On average, housing unit costs 0.2 yearly household incomes in Fairfield.
Buying the median-priced home in Fairfield costs roughly 1.0 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Fairfield. The price-to-rent ratio in Ohio is about 11.2.
| Metric | Fairfield | Ohio Avg | US Average |
|---|---|---|---|
| Median Home Price | $14,915 | $139,044 | $248,835 |
| Median Household Income | $76,302 | $71,509 | $80,455 |
| Price-to-Income Ratio | 0.2 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Fairfield fell about 82.4%, while median household income rose about 29.7% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Fairfield | Ohio Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 59.2% | 61.7% | 58.5% |
| Rental Rate | 35.1% | 30.1% | 31.2% |
| Vacancy Rate | 5.7% | 8.1% | 10.2% |
| Median Tenure (years) | 14.0 | 16.0 | 15.0 |
| Median Year Moved In | 2012 | 2010 | 2011 |
Fairfield has a homeownership rate of 59.2%, lower than the Ohio average of 61.7%. Its housing vacancy rate is 5.7%, compared with 8.1% in Ohio.
Housing Stock
| Metric | Fairfield | Ohio Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.43 people | 2.37 people | 2.53 people |
| Median Structure Built Year | 1979 | 1970 | 1978 |
| Median Number of Rooms | 5.8 | 5.9 | 5.5 |
The typical housing unit in Fairfield was built around 1979. On average, 2.4 people live in a home with about 5.8 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Fairfield, Ohio.
What is the median home price in Fairfield, Ohio?
The median home price in Fairfield, Ohio is $14,915, lower than the Ohio average of $139,044.
What is the average home price in Fairfield, Ohio?
The typical home price in Fairfield, Ohio, reported as the median sale price, is $14,915. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Fairfield, Ohio?
The median gross rent in Fairfield, Ohio is $1,243 per month, higher than the Ohio average of $1,033.
What was the median gross rent in Fairfield in 2020?
In 2020, the median gross rent in Fairfield, Ohio was $960 per month.
What is the price-to-rent ratio in Fairfield, Ohio?
The price-to-rent ratio in Fairfield, Ohio is about 1.0, meaning it would take roughly 1.0 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Fairfield.
Are home prices or rent rising faster in Fairfield, Ohio?
Both home prices and rent are rising in Fairfield, up about 11.2% and 5.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Fairfield, Ohio?
59.2% of households in Fairfield, Ohio own their home, lower than the Ohio average of 61.7%.
What is the vacancy rate in Fairfield, Ohio?
The housing vacancy rate in Fairfield, Ohio is 5.7%, lower than the Ohio average of 8.1%.
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