Bisbee, AZ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Bisbee, AZ Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Bisbee Housing Market Information

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 Home Appreciation Rates

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.

Average Home Values

 

Median Home Value:
$137,556

Bisbee, AZ HOME PRICES

Value Range
> $1,046,000 0.6
$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

Average for AZ
Average for Nation

Value Relative to Nation Value Relative to State
55.9767959685925 50.6756756756757

Number Of Homes And Apartments:
2,630

Bisbee Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AZ*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2017 Q1
46.25% 2.23% 4 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$879 / per month

Homeownership Rate

Homeownership
Owners 60.75
Renters 39.25
Vacant 28.53

Housing Market Details

 

Age of Homes

AGE OF Bisbee HOMES
2000 or Newer 4.3
1970 - 1999 10.3
1940 - 1969 31.7
1939 or Older 53.8

Types of Homes

TYPE OF Bisbee HOMES
Single-Family 81.1
Townhomes 1.1
Small Apt. Buildings 7.7
Apt. Complexes 6.9
Mobile Homes 3.3
Other 0.0

Home Size

SIZE OF Bisbee HOMES
No Bedroom 2.85
1 Bedroom 16.25
2 Bedrooms 37.34
3 Bedrooms 37.74
4 Bedrooms 4.67
5 or more bedrooms 1.14

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Zip Codes in Bisbee, AZ