Bristol, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Bristol Neighborhoods Since 2000




Bristol, 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

Bristol Housing Market Information

With 17,141 people, 7,718 houses or apartments, and a median cost of homes of $131,129, house prices in Bristol are solidly below the national average.

Single-family detached homes are the single most common housing type in Bristol, accounting for 66.45% of the city's housing units. Other types of housing that are prevalent in Bristol include large apartment complexes or high rise apartments ( 17.49%), duplexes, homes converted to apartments or other small apartment buildings ( 10.15%), and a few row houses and other attached homes ( 3.34%).

The most prevalent building size and type in Bristol are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 53.88% owning and 46.12% renting.

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. Bristol's housing was primarily built during this period, from the '40s through the '60s. A full 41.76% of the city's housing hails from this era. Other housing ages represented in Bristol include homes built between 1970-1999 ( 35.78%) and housing constructed before 1939 ( 14.48%). There's also some housing in Bristol built between 2000 and later ( 7.99%).

Vacant housing appears to be an issue in Bristol. Fully 12.70% 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.

Bristol Home Appreciation Rates

Appreciation rates for homes in Bristol have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 1.65%, which ranks in the top 50% nationwide. This equates to an annual average Bristol house appreciation rate of 0.16%.

NeighborhoodScout's data show that during the latest twelve months, Bristol's appreciation rate, at 3.28%, has been at or slightly above the national average. In the latest quarter, Bristol's appreciation rate has been -1.22%, which annualizes to a rate of -4.81%.

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

Relative to Virginia, our data show that Bristol's latest annual appreciation rate is higher than 60% 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 Bristol differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Bristol - 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 Bristol real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$131,129

Bristol, VA HOME PRICES

Value Range
> $1,018,000 0.7
$763,001 - $1,018,000 0.7
$509,001 - $763,000 0.6
$407,001 - $509,000 0.9
$305,001 - $407,000 3.3
$204,001 - $305,000 8.4
$102,001 - $204,000 39.5
$51,001 - $102,000 36.4
$0 - $51,000 9.6

Low for VA
Average for Nation

Value Relative to Nation Value Relative to State
59.2757529591 72.5761772853186

Number Of Homes And Apartments:
7,718

Bristol 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
37.73% 1.87% 2 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$819 / per month

Homeownership Rate

Homeownership
Owners 53.88
Renters 46.12
Vacant 12.70

Housing Market Details

 

Age of Homes

AGE OF Bristol HOMES
2000 or Newer 8.0
1970 - 1999 35.8
1940 - 1969 41.8
1939 or Older 14.5

Types of Homes

TYPE OF Bristol HOMES
Single-Family 66.5
Townhomes 3.3
Small Apt. Buildings 10.1
Apt. Complexes 17.5
Mobile Homes 2.6
Other 0.0

Home Size

SIZE OF Bristol HOMES
No Bedroom 2.28
1 Bedroom 9.08
2 Bedrooms 33.13
3 Bedrooms 44.59
4 Bedrooms 9.29
5 or more bedrooms 1.63