Bassett, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Bassett Neighborhoods Since 2000




Bassett, VA 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

Bassett Housing Market Information

With 1,058 people, 467 houses or apartments, and a median cost of homes of $105,196, house prices in Bassett are solidly below the national average.

Single-family detached homes are the single most common housing type in Bassett, accounting for 82.89% of the town's housing units. Other types of housing that are prevalent in Bassett include mobile homes or trailers ( 6.38%), duplexes, homes converted to apartments or other small apartment buildings ( 5.03%), and a few large apartment complexes or high rise apartments ( 4.70%).

People in Bassett primarily live in small (one, two or no bedroom) single-family detached homes. Bassett 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. Bassett's housing was primarily built during this period, from the '40s through the '60s. A full 41.44% of the town's housing hails from this era. Other housing ages represented in Bassett include homes built before 1939 ( 30.70%) and housing constructed between 1970-1999 ( 27.85%).

Vacant housing appears to be an issue in Bassett. Fully 21.64% of the housing stock is classified as vacant. Left unchecked, vacant Bassett homes and apartments can be a drag on the real estate market, holding Bassett 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.

Bassett Home Appreciation Rates

Bassett's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Bassett during the period has been just -1.32%, which is lower than 70% of US communities.

Over the last year, Bassett appreciation rates have trailed the rest of the nation. In the last twelve months, Bassett's appreciation rate has been -2.36%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Bassett were at -1.60%, which equates to an annual appreciation rate of -6.23%.

Notably, Bassett's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Virginia, our data show that Bassett's latest annual appreciation rate is lower than 90% of the other cities and towns in Virginia.

Average Home Values

 

Median Home Value:
$105,196

Bassett, VA HOME PRICES

Value Range
> $951,000 0.8
$713,001 - $951,000 0.1
$476,001 - $713,000 1.4
$380,001 - $476,000 3.1
$285,001 - $380,000 2.0
$190,001 - $285,000 9.1
$95,001 - $190,000 38.3
$47,001 - $95,000 32.4
$0 - $47,000 12.8

Very Low for VA
Low for Nation

Value Relative to Nation Value Relative to State
74.2118832766905 83.9335180055402

Number Of Homes And Apartments:
467

Bassett Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
VA*
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
9.10% 0.51% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$670 / per month

Homeownership Rate

Homeownership
Owners 62.53
Renters 37.47
Vacant 21.64

Housing Market Details

 

Age of Homes

AGE OF Bassett HOMES
2000 or Newer 0.0
1970 - 1999 27.9
1940 - 1969 41.4
1939 or Older 30.7

Types of Homes

TYPE OF Bassett HOMES
Single-Family 82.9
Townhomes 1.0
Small Apt. Buildings 5.0
Apt. Complexes 4.7
Mobile Homes 6.4
Other 0.0

Home Size

SIZE OF Bassett HOMES
No Bedroom 4.70
1 Bedroom 1.51
2 Bedrooms 43.79
3 Bedrooms 37.42
4 Bedrooms 9.23
5 or more bedrooms 3.36