Bristol appreciation rates and housing market information
Bristol housing market information
With a population of 22,919, 8,511 total housing units (homes and apartments), and a median house value of $295,180, real estate costs in Bristol are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Rhode Island communities.
Single-family detached homes are the single most common housing type in Bristol, accounting for 62.14% of the town's housing units. Other types of housing that are prevalent in Bristol include duplexes, homes converted to apartments or other small apartment buildings (23.10%), large apartment complexes or high rise apartments (11.26%), and a few row houses and other attached homes (3.51%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Bristol. Owner-occupied housing accounts for 67.18% of Bristol's homes, and 56.20% have either three or four bedrooms, which is average sized relative to America.
The housing in Bristol was primarily built before 1939 (33.56%), making the housing stock in Bristol some of the oldest overall in America, although there is a range of ages of homes in Bristol. The next most important housing age is between 1940-1969 (30.77%), followed by between 1970-1999 (27.69%). There's also some housing in Bristol built between 2000 and later (7.98%).
Bristol home appreciation rates
In the last 10 years, Bristol has experienced some of the highest home appreciation rates of any community in the nation. Bristol real estate appreciated 42.61% over the last ten years, which is an average annual home appreciation rate of 3.61%, putting Bristol in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Bristol definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Bristol that despite a nationwide downturn in the housing market, Bristol real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Bristol appreciation rates continue to be some of the highest in America, at 4.08%, which is higher than appreciation rates in 80.84% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Bristol. Bristol appreciation rates in the latest quarter were at 1.09%, which equates to an annual appreciation rate of 4.42%.
Relative to Rhode Island, our data show that Bristol's latest annual appreciation rate is higher than 80% of the other cities and towns in Rhode Island.