Bumpass, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Bumpass, 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

Bumpass Housing Market Information

With 10,270 people, 1,952 houses or apartments, and a median cost of homes of $191,496, Bumpass real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Bumpass, accounting for 83.87% of the town's housing units. Other types of housing that are prevalent in Bumpass include mobile homes or trailers ( 14.48%), row houses and other attached homes ( 1.65%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Bumpass. Owner-occupied housing accounts for 82.42% of Bumpass's homes, and 81.71% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Bumpass 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 Bumpass built between 2000 and later ( 28.96%). A lesser amount of the housing stock also hails from between 1940-1969 ( 8.47%). There's also some housing in Bumpass built before 1939 ( 4.60%).

Vacant housing appears to be an issue in Bumpass. Fully 14.92% of the housing stock is classified as vacant. Left unchecked, vacant Bumpass homes and apartments can be a drag on the real estate market, holding Bumpass 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.

Bumpass Home Appreciation Rates

Bumpass's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Bumpass during the period has been just -1.57%, which is lower than 80% of US communities.

Over the last year, Bumpass appreciation rates have trailed the rest of the nation. In the last twelve months, Bumpass's appreciation rate has been 2.68%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Bumpass were at -1.10%, which equates to an annual appreciation rate of -4.32%.

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

Relative to Virginia, our data show that Bumpass's latest annual appreciation rate is higher than 60% of the other cities and towns in Virginia.

Average Home Values

 

Median Home Value:
$191,496

Bumpass, VA HOME PRICES

Value Range
> $1,057,000 2.9
$793,001 - $1,057,000 2.1
$529,001 - $793,000 4.6
$423,001 - $529,000 3.9
$317,001 - $423,000 7.4
$212,001 - $317,000 19.6
$106,001 - $212,000 44.6
$53,001 - $106,000 7.7
$0 - $53,000 7.3

Average for VA
High for Nation

Value Relative to Nation Value Relative to State
34.472049689441 50.415512465374

Number Of Homes And Apartments:
1,952

Bumpass 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
55.61% 2.60% 6 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,189 / per month

Homeownership Rate

Homeownership
Owners 82.42
Renters 17.58
Vacant 14.92

Housing Market Details

 

Age of Homes

AGE OF Bumpass HOMES
2000 or Newer 29.0
1970 - 1999 58.0
1940 - 1969 8.5
1939 or Older 4.6

Types of Homes

TYPE OF Bumpass HOMES
Single-Family 83.9
Townhomes 1.7
Small Apt. Buildings 0.0
Apt. Complexes 0.0
Mobile Homes 14.5
Other 0.0

Home Size

SIZE OF Bumpass HOMES
No Bedroom 0.00
1 Bedroom 2.10
2 Bedrooms 10.67
3 Bedrooms 63.04
4 Bedrooms 18.67
5 or more bedrooms 5.52

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Zip Codes in Bumpass, VA