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Real Estate Prices & Overview

Fairmount median real estate price is $181,912, which is less expensive than 97.3% of Connecticut neighborhoods and 82.3% of all U.S. neighborhoods.

The average rental price in Fairmount is currently $1,451, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 97.9% of Connecticut neighborhoods.

Fairmount is a suburban neighborhood (based on population density) located in Waterbury, Connecticut.

Fairmount real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Fairmount neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

In Fairmount, the current vacancy rate is 2.8%, which is a lower rate of vacancies than 81.4% of all neighborhoods in the U.S. This means that the housing supply in Fairmount is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

People

Whether by choice, divorce, or unplanned pregnancy, single moms may have the toughest job in the book. NeighborhoodScout's exclusive analysis reveals that the Fairmount neighborhood has more single mother households than 99.5% of the neighborhoods in the U.S. Often high concentrations of single mother homes can be a strong indicator of family and social issues such as poverty, high rates of school dropouts, crime, and other societal problems.

Diversity

Did you know that the Fairmount neighborhood has more Puerto Rican and Dominican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 41.0% of this neighborhood's residents have Puerto Rican ancestry and 9.8% have Dominican ancestry.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the Fairmount neighborhood in Waterbury are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 86.8% of U.S. neighborhoods. With 49.9% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 93.9% of U.S. neighborhoods.

A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

In the Fairmount neighborhood, 36.6% of the working population is employed in manufacturing and laborer occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 27.8% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (21.5%), and 14.1% in executive, management, and professional occupations.

Languages

The most common language spoken in the Fairmount neighborhood is English, spoken by 59.8% of households. Some people also speak Spanish (34.5%).

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Fairmount neighborhood in Waterbury, CT, residents most commonly identify their ethnicity or ancestry as Puerto Rican (41.0%). There are also a number of people of Dominican ancestry (9.8%), and residents who report Italian roots (7.3%), and some of the residents are also of Irish ancestry (5.9%), along with some English ancestry residents (3.7%), among others. In addition, 12.1% of the residents of this neighborhood were born in another country.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Fairmount neighborhood spend between 15 and 30 minutes commuting one-way to work (43.4% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (72.8%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (14.6%) and 5.7% of residents also ride the bus for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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