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 13,752 people, 5,080 houses or apartments, and a median cost of homes of $375,646, 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 87.79% of the town's housing units. Other types of housing that are prevalent in Bumpass include mobile homes or trailers ( 11.31%).
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 84.92% of Bumpass's homes, and 79.17% 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 ( 33.99%). A lesser amount of the housing stock also hails from before 1939 ( 6.42%). There's also some housing in Bumpass built between 1940-1969 ( 5.51%).
Vacant housing appears to be an issue in Bumpass. Fully 15.24% 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.
Appreciation rates for homes in Bumpass have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 95.15%, which ranks in the top 50% nationwide. This equates to an annual average Bumpass house appreciation rate of 6.91%.
NeighborhoodScout's data show that during the latest twelve months, Bumpass's appreciation rate, at 7.48%, has been at or slightly above the national average. In the latest quarter, Bumpass's appreciation rate has been 2.55%, which annualizes to a rate of 10.59%.
Relative to Virginia, our data show that Bumpass's latest annual appreciation rate is higher than 80% of the other cities and towns in Virginia.
$375,646
for Virginia
for nation
5,080
$1,973 / per month