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 1,472,654 people, 525,387 houses or apartments, and a median cost of homes of $725,157, Bronx house prices are not only among the most expensive in New York, Bronx real estate also is some of the most expensive in all of America.
Large apartment complexes or high rise apartments are the single most common housing type in Bronx, accounting for 71.59% of the borough's housing units. Other types of housing that are prevalent in Bronx include duplexes, homes converted to apartments or other small apartment buildings ( 16.56%), single-family detached homes ( 6.46%), and a few row houses and other attached homes ( 5.16%). This particular housing mix is relatively uncommon and characteristic of boroughs that are compact and walkable, and which often have a lively downtown.
Bronx is dominated by renter-occupied one, two, or no bedrooms apartments. 80.78% of Bronx's dwellings are rentals.
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. Bronx's housing was primarily built during this period, from the '40s through the '60s. A full 37.08% of the borough's housing hails from this era. Other housing ages represented in Bronx include homes built before 1939 ( 36.04%) and housing constructed between 1970-1999 ( 16.60%). There's also some housing in Bronx built between 2000 and later ( 10.28%).
Real estate appreciation rates in Bronx's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.35% during the period.
Appreciation rates are so strong in Bronx that despite a nationwide downturn in the housing market, Bronx real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Bronx appreciation rates continue to be some of the highest in America, at 9.12%, which is higher than appreciation rates in 81.66% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Bronx. Bronx appreciation rates in the latest quarter were at 2.82%, which equates to an annual appreciation rate of 11.77%.
Relative to New York, our data show that Bronx's latest annual appreciation rate is higher than 70% of the other cities and towns in New York.
One very important thing to keep in mind is that these are average appreciation rates for the borough. Individual neighborhoods within Bronx differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Bronx - 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 Bronx real estate investment or home purchase decisions.
$725,157
for New york
for nation
525,387
$2,888 / per month