Bogota, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Bogota Neighborhoods Since 2000




Bogota, NJ 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

Bogota Housing Market Information

With a population of 8,400, 2,878 total housing units (homes and apartments), and a median house value of $344,657, real estate costs in Bogota are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive New Jersey communities.

Single-family detached homes are the single most common housing type in Bogota, accounting for 61.98% of the borough's housing units. Other types of housing that are prevalent in Bogota include large apartment complexes or high rise apartments ( 17.68%), duplexes, homes converted to apartments or other small apartment buildings ( 17.55%), and a few row houses and other attached homes ( 1.97%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Bogota. Owner-occupied housing accounts for 66.96% of Bogota's homes, and 60.05% have either three or four bedrooms, which is average sized relative to America.

The housing in Bogota was primarily built before 1939 ( 48.85%), making the housing stock in Bogota some of the oldest overall in America, although there is a range of ages of homes in Bogota. The next most important housing age is between 1940-1969 ( 41.89%), followed by between 1970-1999 ( 8.66%).

Bogota Home Appreciation Rates

Bogota's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Bogota during the period has been just -2.10%, which is lower than 80% of US communities.

Appreciation rates are so strong in Bogota that despite a nationwide downturn in the housing market, Bogota real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Bogota appreciation rates continue to be some of the highest in America, at 7.64%, which is higher than appreciation rates in 84.98% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Bogota. Bogota appreciation rates in the latest quarter were at 0.66%, which equates to an annual appreciation rate of 2.68%.

Relative to New Jersey, our data show that Bogota's latest annual appreciation rate is higher than 90% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$344,657

Bogota, NJ HOME PRICES

Value Range
> $1,112,000 0.3
$834,001 - $1,112,000 0.0
$556,001 - $834,000 2.8
$445,001 - $556,000 8.9
$333,001 - $445,000 46.4
$222,001 - $333,000 35.8
$111,001 - $222,000 3.7
$56,001 - $111,000 0.3
$0 - $56,000 1.7

Average for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
12.6098675729521 53.2520325203252

Number Of Homes And Apartments:
2,878

Bogota Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
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
50.57% 2.40% 5 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,627 / per month

Homeownership Rate

Homeownership
Owners 66.96
Renters 33.04
Vacant 2.31

Housing Market Details

 

Age of Homes

AGE OF Bogota HOMES
2000 or Newer 0.6
1970 - 1999 8.7
1940 - 1969 41.9
1939 or Older 48.8

Types of Homes

TYPE OF Bogota HOMES
Single-Family 62.0
Townhomes 2.0
Small Apt. Buildings 17.5
Apt. Complexes 17.7
Mobile Homes 0.8
Other 0.0

Home Size

SIZE OF Bogota HOMES
No Bedroom 0.27
1 Bedroom 21.28
2 Bedrooms 16.23
3 Bedrooms 43.45
4 Bedrooms 16.60
5 or more bedrooms 2.17