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 5,548 people, 2,009 houses or apartments, and a median cost of homes of $110,473, 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%).
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 -0.23% 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 2.74%, 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 1.88%, which equates to an annual appreciation rate of 7.72%.
Importantly, this makes Bessemer City 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 North Carolina, our data show that Bessemer City's latest annual appreciation rate is higher than 50% 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.
|$829,001 - $1,105,000||0.1|
|$552,001 - $829,000||1.3|
|$442,001 - $552,000||0.1|
|$331,001 - $442,000||1.9|
|$221,001 - $331,000||4.2|
|$110,001 - $221,000||37.6|
|$55,001 - $110,000||40.4|
|$0 - $55,000||13.8|
|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 Bessemer City HOMES|
|2000 or Newer||8.4|
|1970 - 1999||45.3|
|1940 - 1969||36.4|
|1939 or Older||9.9|
|TYPE OF Bessemer City HOMES|
|Small Apt. Buildings||3.5|
|SIZE OF Bessemer City HOMES|
|5 or more bedrooms||1.38|