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 about Scout's Real Estate Data
With 21,915 people, 8,304 houses or apartments, and a median cost of homes of $418,209, real estate costs in Bristol are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Rhode Island communities.
Single-family detached homes are the single most common housing type in Bristol, accounting for 59.31% of the town's housing units. Other types of housing that are prevalent in Bristol include duplexes, homes converted to apartments or other small apartment buildings ( 23.04%), large apartment complexes or high rise apartments ( 13.36%), and a few row houses and other attached homes ( 4.29%).
The most prevalent building size and type in Bristol are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 56.34% owning and 43.66% renting.
There is a lot of housing in Bristol 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 Bristol built between 1940-1969 ( 29.54%). A lesser amount of the housing stock also hails from before 1939 ( 25.88%). There's also some housing in Bristol built between 2000 and later ( 8.73%).
Vacant housing appears to be an issue in Bristol. Fully 11.46% of the housing stock is classified as vacant. Left unchecked, vacant Bristol homes and apartments can be a drag on the real estate market, holding Bristol 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.
Real estate appreciation rates in Bristol's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 3.45% during the period.
Appreciation rates are so strong in Bristol that despite a nationwide downturn in the housing market, Bristol real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Bristol appreciation rates continue to be some of the highest in America, at 11.39%, which is higher than appreciation rates in 79.59% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Bristol. Bristol appreciation rates in the latest quarter were at 4.05%, which equates to an annual appreciation rate of 17.23%.
Importantly, this makes Bristol one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Rhode Island, our data show that Bristol's latest annual appreciation rate is lower than 60% of the other cities and towns in Rhode Island.