Bogota, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Bogota, NJ Real Estate Data


Bogota Housing Market Information

With 8,400 people, 2,720 houses or apartments, and a median cost of homes of $335,404, 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 59.47% of the borough's housing units. Other types of housing that are prevalent in Bogota include duplexes, homes converted to apartments or other small apartment buildings ( 22.60%), large apartment complexes or high rise apartments ( 15.03%), and a few row houses and other attached homes ( 2.01%).

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 67.47% of Bogota's homes, and 60.44% have either three or four bedrooms, which is average sized relative to America.

The housing in Bogota was primarily built before 1939 ( 49.82%), 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 ( 40.10%), followed by between 1970-1999 ( 9.36%).

Bogota Home Appreciation Rates

Homes have actually lost value in Bogota over the last then years, as home values have seen a decline of 21.96% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Bogota home appreciation rates at 1.43%, which equates to an annual appreciation rate of 5.85%.

Over the last year, Bogota appreciation rates have trailed the rest of the nation. In the last twelve months, Bogota's appreciation rate has been 3.90%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Bogota were at 1.43%, which equates to an annual appreciation rate of 5.85%.

Relative to New Jersey, our data show that Bogota's latest annual appreciation rate is higher than 50% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$335,404

Bogota, NJ HOME PRICES

Value Range
> $1,042,000 0.3
$782,001 - $1,042,000 0.8
$521,001 - $782,000 2.1
$417,001 - $521,000 8.9
$312,001 - $417,000 49.9
$208,001 - $312,000 33.1
$104,001 - $208,000 3.2
$52,001 - $104,000 0.6
$0 - $52,000 1.2

Average for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
13.6206593663993 55.4878048780488

Number Of Homes And Apartments:
2,720

Rent & Ownership

 

Average Market Rent:
$1,521 / per month

Homeownership Rate

Homeownership
Owners 67.47
Renters 32.53
Vacant 2.44

Housing Market Details

 

Age of Homes

AGE OF Bogota HOMES
2000 or Newer 0.7
1970 - 1999 9.4
1940 - 1969 40.1
1939 or Older 49.8

Types of Homes

TYPE OF Bogota HOMES
Single-Family 59.5
Townhomes 2.0
Small Apt. Buildings 22.6
Apt. Complexes 15.0
Mobile Homes 0.9
Other 0.0

Home Size

SIZE OF Bogota HOMES
No Bedroom 0.22
1 Bedroom 19.01
2 Bedrooms 16.07
3 Bedrooms 43.76
4 Bedrooms 16.68
5 or more bedrooms 4.27

Bogota Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
44.01% 2.17% 3 5
* 10 is highest