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 3,771 people, 2,035 houses or apartments, and a median cost of homes of $473,736, Bishop real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Bishop, accounting for 45.84% of the city's housing units. Other types of housing that are prevalent in Bishop include large apartment complexes or high rise apartments ( 21.15%), duplexes, homes converted to apartments or other small apartment buildings ( 16.84%), and a few mobile homes or trailers ( 12.08%).
People in Bishop primarily live in small (one, two or no bedroom) single-family detached homes. Bishop has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Bishop 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 Bishop built between 1940-1969 ( 38.70%). A lesser amount of the housing stock also hails from before 1939 ( 15.91%). There's also some housing in Bishop built between 2000 and later ( 1.72%).
Vacant housing appears to be an issue in Bishop. Fully 10.31% of the housing stock is classified as vacant. Left unchecked, vacant Bishop homes and apartments can be a drag on the real estate market, holding Bishop 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 Bishop have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 89.76%, which ranks in the top 50% nationwide. This equates to an annual average Bishop house appreciation rate of 6.62%.
Over the last year, Bishop appreciation rates have trailed the rest of the nation. In the last twelve months, Bishop's appreciation rate has been 1.50%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Bishop were at 0.00%, which equates to an annual appreciation rate of 0.00%.
Notably, Bishop's appreciation rate in the latest quarter is one of the lowest in America.
Relative to California, our data show that Bishop's latest annual appreciation rate is lower than 70% of the other cities and towns in California.
$473,736
for California
for nation
2,035
$1,671 / per month