Bedford, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Bedford Neighborhoods Since 2000




Bedford, 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

Bedford Housing Market Information

With a population of 6,561, 2,815 total housing units (homes and apartments), and a median house value of $144,955, Bedford real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Bedford, accounting for 58.87% of the city's housing units. Other types of housing that are prevalent in Bedford include large apartment complexes or high rise apartments ( 17.14%), duplexes, homes converted to apartments or other small apartment buildings ( 13.50%), and a few mobile homes or trailers ( 10.11%).

The most prevalent building size and type in Bedford are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 47.98% owning and 52.02% renting.

There is a lot of housing in Bedford 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 Bedford built between 1940-1969 ( 39.32%). A lesser amount of the housing stock also hails from before 1939 ( 9.25%). There's also some housing in Bedford built between 2000 and later ( 7.64%).

Vacant housing appears to be an issue in Bedford. Fully 10.80% 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.

Bedford Home Appreciation Rates

Real estate appreciation rates in Bedford's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.72% during the period.

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 1.76%, 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 0.50%, which equates to an annual appreciation rate of 2.02%.

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

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.

Average Home Values

 

Median Home Value:
$144,955

Bedford, VA HOME PRICES

Value Range
> $1,010,000 0.0
$757,001 - $1,010,000 0.6
$505,001 - $757,000 2.4
$404,001 - $505,000 2.0
$303,001 - $404,000 6.0
$202,001 - $303,000 18.3
$101,001 - $202,000 38.3
$50,001 - $101,000 20.7
$0 - $50,000 11.6

Low for VA
Average for Nation

Value Relative to Nation Value Relative to State
52.179772647369 65.9279778393352

Number Of Homes And Apartments:
2,815

Bedford 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
37.70% 1.87% 2 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$853 / per month

Homeownership Rate

Homeownership
Owners 47.98
Renters 52.02
Vacant 10.80

Housing Market Details

 

Age of Homes

AGE OF Bedford HOMES
2000 or Newer 7.6
1970 - 1999 43.8
1940 - 1969 39.3
1939 or Older 9.3

Types of Homes

TYPE OF Bedford HOMES
Single-Family 58.9
Townhomes 0.4
Small Apt. Buildings 13.5
Apt. Complexes 17.1
Mobile Homes 10.1
Other 0.0

Home Size

SIZE OF Bedford HOMES
No Bedroom 2.28
1 Bedroom 10.27
2 Bedrooms 34.13
3 Bedrooms 41.41
4 Bedrooms 9.44
5 or more bedrooms 2.47