October's First-Time Homebuyer Report for Fairmont City

Fairmont City is a city that is growing faster than others in Illinois at a 10-year growth rate of 10.4%. It also has a larger than average population of 2,635 people. Homes in Fairmont City are older than most with a median age of 48 years. The best school in the city is Mitchell Elementary School.

Price Range

Fairmont City has some of the more affordable homes in the state with a median home value of $50,500 and a current average list price of $59,562. The Fairmont City market has remained completely quiet for some time as, once more this week, no sales were reported over the previous 30 days. Fairmont City usually averages 0.5 sales per month.

Typical Dwelling

The typical dwelling in Fairmont City is a three-bedroom detached home worth about $56,333. To purchase a similar home, a buyer with good credit and a $11,267 cash down payment could obtain a mortgage with a 3.95% interest rate and a $80 monthly payment. The property tax rate is $16.45 per $1,000 of taxable assessed value.

Get started right now by checking out Fairmont City homes for sale or reviewing Fairmont City real estate trends.


Data reported through 10/13/2016

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