Rent, population, and median household income are important factors to consider for a 1031 exchange in Fairfield due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Fairfield, Alabama is a part of the North Birmingham submarket area, and contains zip code 35064.
Fairfield Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Fairfield, AL submarket area was $715, which is 17.79% lower than 2014 average rent. This represents a compounded annual growth rate of 3.33%. 2019 vacancy in Fairfield, AL was 4.50%.
The total population of the city of Fairfield, AL has decreased 4.45% since 2010. As of 2018, the population was 10,622. The median household income of the Fairfield was $37,304, which is 38.13% lower than the national average.
- submarket area North Birmingham
- avg rent $715
- rent growth 17.79%
- vacancy 4.50%
- median income $37,304
- population (2018) 10,622
- population growth -4.45%
- vs. nat'l avg 38.13%
- zip code 35064