Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 5,208, 2,630 total housing units (homes and apartments), and a median house value of $137,556, house prices in Bisbee are solidly below the national average.
Single-family detached homes are the single most common housing type in Bisbee, accounting for 81.06% of the city's housing units. Other types of housing that are prevalent in Bisbee include duplexes, homes converted to apartments or other small apartment buildings ( 7.72%), large apartment complexes or high rise apartments ( 6.90%), and a few mobile homes or trailers ( 3.26%).
People in Bisbee primarily live in small (one, two or no bedroom) single-family detached homes. Bisbee has a mixture of owner-occupied and renter-occupied housing.
The housing in Bisbee was primarily built before 1939 ( 53.75%), making the housing stock in Bisbee some of the oldest overall in America, although there is a range of ages of homes in Bisbee. The next most important housing age is between 1940-1969 ( 31.66%), followed by between 1970-1999 ( 10.27%). There's also some housing in Bisbee built between 2000 and later ( 4.32%).
Vacant housing appears to be an issue in Bisbee. Fully 28.53% of the housing stock is classified as vacant. Left unchecked, vacant Bisbee homes and apartments can be a drag on the real estate market, holding Bisbee real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Bisbee's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Bisbee during the period has been just -1.87%, which is lower than 80% of US communities.
Over the last year, Bisbee appreciation rates have trailed the rest of the nation. In the last twelve months, Bisbee's appreciation rate has been 2.91%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Bisbee were at 3.79%, which equates to an annual appreciation rate of 16.04%.
Importantly, this makes Bisbee one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Arizona, our data show that Bisbee's latest annual appreciation rate is lower than 90% of the other cities and towns in Arizona.
|$784,001 - $1,046,000||0.5|
|$523,001 - $784,000||2.8|
|$418,001 - $523,000||0.0|
|$314,001 - $418,000||1.5|
|$209,001 - $314,000||12.3|
|$105,001 - $209,000||53.8|
|$52,001 - $105,000||24.5|
|$0 - $52,000||4.0|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Bisbee HOMES|
|2000 or Newer||4.3|
|1970 - 1999||10.3|
|1940 - 1969||31.7|
|1939 or Older||53.8|
|TYPE OF Bisbee HOMES|
|Small Apt. Buildings||7.7|
|SIZE OF Bisbee HOMES|
|5 or more bedrooms||1.14|