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 12,747 people, 5,857 houses or apartments, and a median cost of homes of $102,465, house prices in Bedford are solidly below the national average.
Single-family detached homes are the single most common housing type in Bedford, accounting for 58.78% of the city's housing units. Other types of housing that are prevalent in Bedford include large apartment complexes or high rise apartments ( 27.91%), duplexes, homes converted to apartments or other small apartment buildings ( 7.96%), and a few row houses and other attached homes ( 4.58%).
People in Bedford primarily live in small (one, two or no bedroom) single-family detached homes. Bedford has a mixture of owner-occupied and renter-occupied housing.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Bedford's housing was primarily built during this period, from the '40s through the '60s. A full 53.53% of the city's housing hails from this era. Other housing ages represented in Bedford include homes built between 1970-1999 ( 22.39%) and housing constructed before 1939 ( 22.07%). There's also some housing in Bedford built between 2000 and later ( 2.01%).
Vacant housing appears to be an issue in Bedford. Fully 16.46% of the housing stock is classified as vacant. Left unchecked, vacant Bedford homes and apartments can be a drag on the real estate market, holding Bedford 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.
Homes have actually lost value in Bedford over the last then years, as home values have seen a decline of 21.76% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Bedford home appreciation rates at -0.21%, which equates to an annual appreciation rate of -0.82%.
Over the last year, Bedford appreciation rates have trailed the rest of the nation. In the last twelve months, Bedford's appreciation rate has been 2.73%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Bedford were at -0.21%, which equates to an annual appreciation rate of -0.82%.
Relative to Ohio, our data show that Bedford's latest annual appreciation rate is lower than 50% of the other cities and towns in Ohio.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Bedford differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Bedford - 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 Bedford real estate investment or home purchase decisions.
|$829,001 - $1,106,000||0.0|
|$553,001 - $829,000||0.0|
|$443,001 - $553,000||0.0|
|$332,001 - $443,000||0.0|
|$221,001 - $332,000||1.9|
|$111,001 - $221,000||30.3|
|$55,001 - $111,000||59.6|
|$0 - $55,000||7.9|
|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 Bedford HOMES|
|2000 or Newer||2.0|
|1970 - 1999||22.4|
|1940 - 1969||53.5|
|1939 or Older||22.1|
|TYPE OF Bedford HOMES|
|Small Apt. Buildings||8.0|
|SIZE OF Bedford HOMES|
|5 or more bedrooms||0.67|