Fairfax, IA housing market
The typical Fairfax home is worth about $309,000, up 3.8% in a year, 29% above the Iowa typical home. Homes typically sell in 17 days, close to asking.
Home values, sales, trends and how Fairfax compares with the towns next door — updated as new data is published.
Fairfax at a glance
A seller's market
Supply is tight — about 2.8 months of homes for sale at the current pace. Buyers should expect competition on well-priced homes.
Typical home value, 2016–2026
Show as a table
| January | Fairfax | Iowa |
|---|---|---|
| 2017 | $204,000 | $147,000 |
| 2018 | $211,000 | $152,000 |
| 2019 | $219,000 | $159,000 |
| 2020 | $231,000 | $167,000 |
| 2021 | $241,000 | $179,000 |
| 2022 | $265,000 | $195,000 |
| 2023 | $283,000 | $211,000 |
| 2024 | $289,000 | $218,000 |
| 2025 | $295,000 | $228,000 |
| 2026 | $302,000 | $236,000 |
| August 2026 | $309,000 | $240,000 |
7 new homes permitted in 2025
Builders were permitted 7 new homes in Fairfax in 2025, all single-family houses. That's 2.4 per 1,000 residents, slower than across Iowa (4.7). Over the past 10 years, Fairfax has permitted 215 homes in all.
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Fairfax gained 705 residents while 296 new homes were permitted: about 2.4 new residents per new home. Building and growth moved roughly in step. Across Iowa: 1.3 new residents per new home.
How Fairfax ranks on housing keeping up with growth →
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 5 | 5 | 0 | $511,000 |
| 2025 | 7 | 7 | 0 | $711,000 |
| 2024 | 5 | 5 | 0 | $524,000 |
| 2023 | 6 | 6 | 0 | $791,000 |
| 2022 | 14 | 10 | 4 | $1.4 million |
| 2021 | 27 | 21 | 6 | $2.6 million |
| 2020 | 15 | 9 | 6 | $1.5 million |
| 2019 | 35 | 13 | 22 | $3 million |
| 2018 | 40 | 14 | 26 | $3.5 million |
| 2017 | 40 | 22 | 18 | $3.9 million |
| 2016 | 26 | 5 | 21 | $2.5 million |
| 2015 | 27 | 11 | 16 | $2.5 million |
| 2014 | 32 | 16 | 16 | $2.9 million |
| 2013 | 20 | 20 | 0 | $2.4 million |
| 2012 | 25 | 25 | 0 | $2.6 million |
| 2011 | 26 | 26 | 0 | $3 million |
| 2010 | 25 | 25 | 0 | $2.6 million |
| 2009 | 29 | 29 | 0 | $3 million |
| 2008 | 36 | 36 | 0 | $3.2 million |
| 2007 | 46 | 46 | 0 | $3.6 million |
| 2006 | 67 | 46 | 21 | $5.3 million |
| 2005 | 18 | 12 | 6 | $1.7 million |
| 2004 | 42 | 40 | 2 | $4.4 million |
| 2003 | 69 | 67 | 2 | $6.8 million |
| 2002 | 46 | 46 | 0 | $4.5 million |
| 2001 | 58 | 34 | 24 | $4.6 million |
| 2000 | 49 | 41 | 8 | $4.1 million |
Fairfax's permit office reported 11 of 12 months in 2025; the Census estimated the rest.
How Fairfax ranks on new homes being built →
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
Fairfax and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Fairfax | $309K | +3.8% | $1,610 | 7 | $114,375 |
| Cedar Rapids | $212K | +2.3% | $1,110 | 511 | $70,424 |
2.7 years of income
The typical Fairfax home costs about 2.7 years of the town's median household income, less than across Iowa (3.2 years).
How Fairfax ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,610
HUD's Fair Market Rent for a two-bedroom in Fairfax is $1,610 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Fairfax pay a median of $1,366, so moving in tends to cost more than staying put. A two-bedroom takes about 17% of the town's median household income.
Studio $1,110 · 4 bedrooms $2,680
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (52228; Cedar Rapids, IA HUD Metro FMR Area), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Recent listings in Fairfax
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.