Fairmont, NC—28340
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Fairmont, NC
As of Oct '25, the median home price in Fairmont, NC is $106,000, with a year-over-year change of -0.4%. This indicates that home prices in Fairmont, NC are flat. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $106,000 | -0.4% |
| Single Family | $106,000 | -0.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $72,000 | -1.4% |
3 Bed | $116,000 | -0.9% |
4 Bed | $177,000 | 1.7% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Fairmont, NC
As of July '25, Rentcast reports the average rent in Fairmont, NC is $1,100, with a year-over-year rent change of 4.8%. Per bedroom, the median rent as of July '25 in Fairmont, NC is 2-bedrooms: $888, 3-bedrooms: $1,250. The most common rental property sizes in Fairmont, NC are 3-bedroom and 2-bedroom, accounting for 39.9% and 36.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,100 | $1,100 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $875 | $888 |
| 3 Bed Rent | $1,300 | $1,250 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Fairmont, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Fairmont, NC is 40. This is a decrease of -31.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $252,000 | 113.0% |
Listing Count | 20 | 43.0% |
| Listings as % of Homes | 0.3% | 43.0% |
Days on Market | 40 | -31.0% |
Demographics — Fairmont, NC
As of the latest ACS Survey released in 2023, Fairmont, NC has a population of 9,760, which has remained stable by 1.0% over the past 5 years. Fairmont, NC is a moderately popular place for families, as children make up 22.1% of the population. The area has a poorly educated workforce, with 9.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 2.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 9,760 | 1.0% |
% Under 18 | 22.1% | 13.3% |
% Seniors | 22.7% | 2.3% |
% WFH | 2.0% | 233.3% |
% w/ College Degree | 9.9% | -3.9% |
As of the latest ACS Survey released in 2023, Fairmont, NC is a predominantly black area, with 35.5% of the population identifying as black. The black population has shrunk by 5.1% in the last 5 years. The second most common race or ethnicity in Fairmont, NC is white, making up 25.9% of the population. Foreign-born residents account for 1.8% of the population in Fairmont, NC, and this percentage has increased by 28.6% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 25.9% | -14.2% |
% Black | 35.5% | -5.1% |
% Hispanic | 7.1% | 108.8% |
% Asian | 0.2% | ∞% |
% Foreign Born | 1.8% | 28.6% |
Mortgage and Risk — Fairmont, NC
According to HUD data as of 2023, there were 74 mortgage originations in Fairmont, NC, of which 68.0% of loans were conventional mortgages. The average loan-to-value was 80.0%, with 50.0% above 90% LTV (very high). This implies large mortgage risk in Fairmont, NC. Investor activity is low, as 3.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 74 |
% Conventional Loans | 68.0% |
% Government Loans | 32.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Fairmont, NC
Fairmont, NC lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 173 |
Total Units Section 8 | 118 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 90.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $730 |
| 2 Bedroom | $55 | $875 | $930 |
| 3 Bedroom | -$120 | $1,300 | $1,180 |
| 4 Bedroom | N/A | N/A | $1,360 |
Affordability — Fairmont, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.6 |
| Median Home Price | $106,000 |
| Median Household Income | $38,200 |