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 6,735 people, 2,858 houses or apartments, and a median cost of homes of $308,780, 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 62.92% of the town's housing units. Other types of housing that are prevalent in Bedford include large apartment complexes or high rise apartments ( 19.30%), duplexes, homes converted to apartments or other small apartment buildings ( 7.04%), and a few row houses and other attached homes ( 5.40%).
The most prevalent building size and type in Bedford are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 48.46% owning and 51.54% 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 ( 33.97%). A lesser amount of the housing stock also hails from before 1939 ( 14.99%). There's also some housing in Bedford built between 2000 and later ( 9.80%).
Vacant housing appears to be an issue in Bedford. Fully 11.32% 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.
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 5.88% 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 5.25%, 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 4.77%, which equates to an annual appreciation rate of 20.50%.
Importantly, this makes Bedford one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Virginia, our data show that Bedford's latest annual appreciation rate is lower 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 town. 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.
$308,780
for Virginia
for nation
2,858
$1,735 / per month