Bessemer City, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Bessemer City, NC Real Estate Data


Bessemer City Housing Market Information

With 5,548 people, 2,009 houses or apartments, and a median cost of homes of $108,210, 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 87.93% of the city's housing units. Other types of housing that are prevalent in Bessemer City include large apartment complexes or high rise apartments ( 5.30%), duplexes, homes converted to apartments or other small apartment buildings ( 3.46%), and a few mobile homes or trailers ( 2.90%).

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 62.44% owning and 37.56% 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 ( 36.36%). A lesser amount of the housing stock also hails from before 1939 ( 9.91%). There's also some housing in Bessemer City built between 2000 and later ( 8.43%).

Bessemer City Home Appreciation Rates

Real estate appreciation rates in Bessemer City's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.41% during the period.

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 1.36%, 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 -0.83%, which equates to an annual appreciation rate of -3.28%.

Notably, Bessemer City's appreciation rate in the latest quarter is one of the lowest in America.

Relative to North Carolina, our data show that Bessemer City's latest annual appreciation rate is lower than 70% 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:
$108,210

Bessemer City, NC HOME PRICES

Value Range
> $1,082,000 0.2
$812,001 - $1,082,000 0.1
$541,001 - $812,000 1.3
$433,001 - $541,000 0.1
$325,001 - $433,000 1.9
$216,001 - $325,000 4.2
$108,001 - $216,000 37.6
$54,001 - $108,000 40.4
$0 - $54,000 13.8

Low for NC
Low for Nation

Value Relative to Nation Value Relative to State
72.3016524082972 73.6842105263158

Number Of Homes And Apartments:
2,009

Rent & Ownership

 

Average Market Rent:
$777 / per month

Homeownership Rate

Homeownership
Owners 62.44
Renters 37.56
Vacant 7.42

Housing Market Details

 

Age of Homes

AGE OF Bessemer City HOMES
2000 or Newer 8.4
1970 - 1999 45.3
1940 - 1969 36.4
1939 or Older 9.9

Types of Homes

TYPE OF Bessemer City HOMES
Single-Family 87.9
Townhomes 0.0
Small Apt. Buildings 3.5
Apt. Complexes 5.3
Mobile Homes 2.9
Other 0.4

Home Size

SIZE OF Bessemer City HOMES
No Bedroom 0.00
1 Bedroom 8.02
2 Bedrooms 31.38
3 Bedrooms 50.97
4 Bedrooms 8.25
5 or more bedrooms 1.38

Bessemer City Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
11.21% 0.62% 2 1
* 10 is highest