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Fairwood

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

Median Home$477,964
Median Rent$1,426/month
Population10,343
Leading IndustriesProfessional Services · Education · Information & Media6% professional services
Home Value Growth+5.8% over 2 years
Retirees23% of residentsslightly above average
Homeowners72% of occupied units
NotableVeteran Community11% of residents · top 9% nationally
NotableHighly Educated27% hold a bachelor's degree · top 14% 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 6.837% (6.871% 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 $478k. The median monthly rent is $1,426. Annual property taxes average $4k. 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 5.8% over the past two years. This represents moderate growth. 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 $1,544/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $66k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Fairwood is $98k/year.

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What industries drive the economy in Fairwood?

The largest employment sectors in Fairwood are public administration (24%) and healthcare (9%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.