Fairfax, Cleveland, OH—44104
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Fairfax, Cleveland, OH
As of Oct '25, the median home price in Fairfax, Cleveland, OH is $72,000, with a year-over-year change of -0.7%. This indicates that home prices in Fairfax, Cleveland, OH are flat. According to Zillow, the 1-year price projection is -0.7%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $72,000 | -0.7% |
| Single Family | $72,000 | -2.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $57,000 | 1.8% |
3 Bed | $70,000 | -2.8% |
4 Bed | $76,000 | -3.8% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Fairfax, Cleveland, OH
As of July '25, Rentcast reports the average rent in Fairfax, Cleveland, OH is $1,140, with a year-over-year rent change of 12.9%. Per bedroom, the median rent as of July '25 in Fairfax, Cleveland, OH is 1-bedrooms: $810, 2-bedrooms: $1,100, 3-bedrooms: $1,220, 4-bedrooms: $1,360. The most common rental property sizes in Fairfax, Cleveland, OH are 2-bedroom and 1-bedroom, accounting for 47.9% and 17.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,050 | $1,140 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $700 | $810 |
| 2 Bed Rent | $925 | $1,100 |
| 3 Bed Rent | $1,150 | $1,220 |
| 4 Bed Rent | $1,400 | $1,360 |
% of Rental Stock
Property Listings — Fairfax, Cleveland, OH
As of Oct '25, Realtor.com reports that the median days on market for a home in Fairfax, Cleveland, OH is 56. This is a increase of 26.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 13.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $82,400 | 28.0% |
Listing Count | 31 | -5.0% |
| Listings as % of Homes | 0.3% | -5.0% |
Days on Market | 56 | 26.0% |
Demographics — Fairfax, Cleveland, OH
As of the latest ACS Survey released in 2023, Fairfax, Cleveland, OH has a population of 19,700, which has remained stable by 0.4% over the past 5 years. Fairfax, Cleveland, OH is a popular place for families, as children make up 29.3% of the population. The area has a poorly educated workforce, with 10.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 2.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 19,700 | 0.4% |
% Under 18 | 29.3% | -14.1% |
% Seniors | 17.1% | 23.9% |
% WFH | 2.7% | 58.8% |
% w/ College Degree | 10.2% | 39.7% |
As of the latest ACS Survey released in 2023, Fairfax, Cleveland, OH is a predominantly black area, with 92.7% of the population identifying as black. The black population has shrunk by 3.4% in the last 5 years. The second most common race or ethnicity in Fairfax, Cleveland, OH is white, making up 3.3% of the population. Foreign-born residents account for 1.5% of the population in Fairfax, Cleveland, OH, and this percentage has increased by 36.4% 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 | 3.3% | 83.3% |
% Black | 92.7% | -3.4% |
% Hispanic | 1.0% | 66.7% |
% Asian | 0.8% | ∞% |
% Foreign Born | 1.5% | 36.4% |
Mortgage and Risk — Fairfax, Cleveland, OH
According to HUD data as of 2023, there were 53 mortgage originations in Fairfax, Cleveland, OH, of which 85.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 26.0% above 90% LTV (very high). This implies large mortgage risk in Fairfax, Cleveland, OH. Investor activity is high, as 28.0% of loans were by investors. 4.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 53 |
% Conventional Loans | 85.0% |
% Government Loans | 15.0% |
% Investor Loans | 28.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 4.0% |
Loan Activity
Rentals and Section 8 — Fairfax, Cleveland, OH
As of 2024, the percent of homes in Fairfax, Cleveland, OH under the Section 8 program is 32.3%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Fairfax, Cleveland, OH, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 3,874 |
Total Units Section 8 | 2,182 |
% Rentals under Section 8 | 32.3% |
% Occupied Section 8 | 79.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $130 | $700 | $830 |
| 2 Bedroom | $75 | $925 | $1,000 |
| 3 Bedroom | $150 | $1,150 | $1,300 |
| 4 Bedroom | -$20 | $1,400 | $1,380 |
Affordability — Fairfax, Cleveland, OH
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.6 |
| Median Home Price | $72,000 |
| Median Household Income | $24,000 |