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Fairwood

Learn about the people, housing, costs and businesses in Fairwood, Washington

Median Home$715,411
Median Rent$2,514/month
Population17,596
Leading IndustriesArts, Food & Hospitality · Education · Healthcare11% arts, food & hospitality
Home Value Growth⬆⬆+18.1% over 2 years
Young Adults28% of residentsnear the national average
Homeowners74% of occupied units
NotableHighly Educated30% bachelor's · 13% graduate · top 9% nationally
NotableHigh Incomes$118k/year · top 9% nationally
Fairwood
WA

Frequently Asked Questions

What are today's mortgage rates in Fairwood?

As of today, the 30-year fixed mortgage rate for Fairwood is approximately 6.814% (6.847% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Fairwood?

The median home value in Fairwood is $715k. The median monthly rent is $2,514. Annual property taxes average $7k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Fairwood?

Home values in Fairwood have increased 18.1% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Fairwood?

Based on a typical all-in ownership cost of $2,274/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $97k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Fairwood is $118k/year.

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What industries drive the economy in Fairwood?

The largest employment sectors in Fairwood are public administration (22%) and healthcare (15%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.