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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Bessemer City, NC Real Estate Market

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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Bessemer City, NC Housing Market Trends

With a population of 5,563, 2,181 total housing units (homes and apartments), and a median house value of $204,680, house prices in Bessemer City are solidly below the national average.

Single-family detached homes are the single most common housing type in Bessemer City, accounting for 73.64% of the city's housing units. Other types of housing that are prevalent in Bessemer City include duplexes, homes converted to apartments or other small apartment buildings ( 13.26%), large apartment complexes or high rise apartments ( 8.20%), and a few mobile homes or trailers ( 3.43%).

The most prevalent building size and type in Bessemer City are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 48.74% owning and 51.26% renting.

There is a lot of housing in Bessemer City built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Bessemer City built between 1940-1969 ( 27.62%). A lesser amount of the housing stock also hails from before 1939 ( 13.42%). There's also some housing in Bessemer City built between 2000 and later ( 5.47%).

Vacant housing appears to be an issue in Bessemer City. Fully 11.02% of the housing stock is classified as vacant. Left unchecked, vacant Bessemer City homes and apartments can be a drag on the real estate market, holding Bessemer City 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.

Bessemer City Home Appreciation Rates

In the last 10 years, Bessemer City has experienced some of the highest home appreciation rates of any community in the nation. Bessemer City real estate appreciated 111.30% over the last ten years, which is an average annual home appreciation rate of 7.77%, putting Bessemer City in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Bessemer City definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Bessemer City appreciation rates have trailed the rest of the nation. In the last twelve months, Bessemer City's appreciation rate has been 4.60%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Bessemer City were at 0.72%, which equates to an annual appreciation rate of 2.90%.

Relative to North Carolina, our data show that Bessemer City's latest annual appreciation rate is lower than 80% of the other cities and towns in North Carolina.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Bessemer City differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Bessemer City - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Bessemer City real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$204,680

Bessemer City, NC Home Prices
> $1,373,000
$1,030,001 - $1,373,000
$687,001 - $1,030,000
$549,001 - $687,000
$412,001 - $549,000
$275,001 - $412,000
$137,001 - $275,000
$69,001 - $137,000
$0 - $69,000
0.1%
0.1%
0.1%
0.1%
1.3%
1.3%
0.7%
0.7%
3.4%
3.4%
22.4%
22.4%
43.4%
43.4%
23.5%
23.5%
5.1%
5.1%
0% 100.0%
% of Homes
Low

for North carolina

Low

for nation

Number of Homes And Apartments:

2,181

Bessemer City Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,345 / per month

Homeownership Rate

Owners
Renters
48.7%
48.7%
51.3%
51.3%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
11.0%
11.0%
89.0%
89.0%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
5.5%
5.5%
53.5%
53.5%
27.6%
27.6%
13.4%
13.4%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
73.6%
73.6%
1.5%
1.5%
13.3%
13.3%
8.2%
8.2%
3.4%
3.4%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.0%
0.0%
11.8%
11.8%
26.8%
26.8%
47.8%
47.8%
9.3%
9.3%
4.2%
4.2%
0% 100.0%
% of Homes