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 a population of 2,787, 1,263 total housing units (homes and apartments), and a median house value of $156,078, house prices in Bonifay are some of the most affordable in Florida as well as the nation.
Single-family detached homes are the single most common housing type in Bonifay, accounting for 54.75% of the city's housing units. Other types of housing that are prevalent in Bonifay include mobile homes or trailers ( 17.68%), duplexes, homes converted to apartments or other small apartment buildings ( 14.71%), and a few large apartment complexes or high rise apartments ( 8.84%).
The most prevalent building size and type in Bonifay are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 51.63% owning and 48.37% renting.
There is a lot of housing in Bonifay 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 Bonifay built between 1940-1969 ( 32.78%). A lesser amount of the housing stock also hails from before 1939 ( 11.61%). There's also some housing in Bonifay built between 2000 and later ( 5.15%).
Vacant housing appears to be an issue in Bonifay. Fully 16.69% of the housing stock is classified as vacant. Left unchecked, vacant Bonifay homes and apartments can be a drag on the real estate market, holding Bonifay 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.
In the last 10 years, Bonifay has experienced some of the highest home appreciation rates of any community in the nation. Bonifay real estate appreciated 128.94% over the last ten years, which is an average annual home appreciation rate of 8.64%, putting Bonifay in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Bonifay definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Bonifay appreciation rates have trailed the rest of the nation. In the last twelve months, Bonifay's appreciation rate has been 0.41%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Bonifay were at -2.36%, which equates to an annual appreciation rate of -9.13%.
Notably, Bonifay's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Florida, our data show that Bonifay's latest annual appreciation rate is lower than 80% of the other cities and towns in Florida.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Bonifay differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Bonifay - 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 Bonifay real estate investment or home purchase decisions.
$156,078
for Florida
for nation
1,263
$1,392 / per month