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 17,505 people, 6,674 houses or apartments, and a median cost of homes of $161,763, house prices in Bay City are solidly below the national average.
Single-family detached homes are the single most common housing type in Bay City, accounting for 56.29% of the city's housing units. Other types of housing that are prevalent in Bay City include large apartment complexes or high rise apartments ( 20.14%), duplexes, homes converted to apartments or other small apartment buildings ( 11.90%), and a few mobile homes or trailers ( 8.25%).
The most prevalent building size and type in Bay City are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 53.10% owning and 46.90% renting.
There is a lot of housing in Bay City 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 Bay City built between 1940-1969 ( 27.92%). A lesser amount of the housing stock also hails from between 2000 and later ( 11.74%). There's also some housing in Bay City built before 1939 ( 5.11%).
Vacant housing appears to be an issue in Bay City. Fully 14.81% of the housing stock is classified as vacant. Left unchecked, vacant Bay City homes and apartments can be a drag on the real estate market, holding Bay City 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.
Bay City's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Bay City during the period has been just 4.54%, which is lower than 80% of US communities.
Over the last year, Bay City appreciation rates have trailed the rest of the nation. In the last twelve months, Bay City's appreciation rate has been 2.76%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Bay City were at 1.51%, which equates to an annual appreciation rate of 6.17%.
Relative to Texas, our data show that Bay City's latest annual appreciation rate is lower than 70% of the other cities and towns in Texas.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Bay City differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Bay City - 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 Bay City real estate investment or home purchase decisions.
$161,763
for Texas
for nation
6,674
$1,708 / per month