The housing market in The Bronx, NY is seemingly more expensive than the national average. The median value of a home in The Bronx is $505,700 compared to the US median value of $338,100. However, while the US housing market has seen an 8.27% appreciation in the last year, The Bronx's appreciation rate was only 4.68%. This could be attributed to a variety of factors, such as job opportunities and lifestyle choices within the boroughs that have affected property values. It's clear though that despite a decrease in appreciation compared to other parts of the country, The Bronx remains a desirable location for many potential homeowners.
The median home cost in Bronx is $505,700. Home appreciation the last 10 years has been 70.4%. Home Appreciation in Bronx is up 5.8%.
Average Age of Homes
- The median age of Bronx real estate is 67 years old
The Rental Market in Bronx
- Renters make up 75.0% of the Bronx population
- 1.5% of houses and apartments in Bronx, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.