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 9,284, 3,199 total housing units (homes and apartments), and a median house value of $557,481, real estate costs in Bogota are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive New Jersey communities.
Single-family detached homes are the single most common housing type in Bogota, accounting for 67.34% of the borough's housing units. Other types of housing that are prevalent in Bogota include large apartment complexes or high rise apartments ( 15.53%), duplexes, homes converted to apartments or other small apartment buildings ( 13.90%), and a few row houses and other attached homes ( 3.23%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Bogota. Owner-occupied housing accounts for 67.09% of Bogota's homes, and 57.84% have either three or four bedrooms, which is average sized relative to America.
The housing in Bogota was primarily built before 1939 ( 51.00%), making the housing stock in Bogota some of the oldest overall in America, although there is a range of ages of homes in Bogota. The next most important housing age is between 1940-1969 ( 32.60%), followed by between 1970-1999 ( 11.25%). There's also some housing in Bogota built between 2000 and later ( 5.16%).
Real estate appreciation rates in Bogota's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.48% during the period.
Appreciation rates are so strong in Bogota that despite a nationwide downturn in the housing market, Bogota real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Bogota appreciation rates continue to be some of the highest in America, at 8.97%, which is higher than appreciation rates in 80.64% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Bogota. Bogota appreciation rates in the latest quarter were at 2.82%, which equates to an annual appreciation rate of 11.77%.
Relative to New Jersey, our data show that Bogota's latest annual appreciation rate is lower than 80% of the other cities and towns in New Jersey.
$557,481
for New jersey
for nation
3,199
$3,047 / per month