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BOLIVAR HOUSING MARKET INFORMATION
With a population of 10,885, 4,225 total housing units (homes and apartments), and a median house value of $149,424, house prices in Bolivar are solidly below the national average.
Single-family detached homes are the single most common housing type in Bolivar, accounting for 70.32% of the city’s housing units. Other types of housing that are prevalent in Bolivar include large apartment complexes or high rise apartments ( 13.53%), duplexes, homes converted to apartments or other small apartment buildings ( 11.65%), and a few row houses and other attached homes ( 3.95%).
The most prevalent building size and type in Bolivar are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 40.24% owning and 59.76% renting.
There is a lot of housing in Bolivar 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 Bolivar built between 2000 and later ( 23.33%). A lesser amount of the housing stock also hails from between 1940-1969 ( 16.14%). There’s also some housing in Bolivar built before 1939 ( 7.25%).
Vacant housing appears to be an issue in Bolivar. Fully 10.37% of the housing stock is classified as vacant. Left unchecked, vacant Bolivar homes and apartments can be a drag on the real estate market, holding Bolivar 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.
BOLIVAR HOME APPRECIATION RATES
Appreciation rates for homes in Bolivar have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 18.22%, which ranks in the top 40% nationwide. This equates to an annual average Bolivar house appreciation rate of 1.69%.
NeighborhoodScout’s data show that during the latest twelve months, Bolivar’s appreciation rate, at 6.22%, has been at or slightly above the national average. In the latest quarter, Bolivar’s appreciation rate has been 3.07%, which annualizes to a rate of 12.86%.
Importantly, this makes Bolivar one of the highest appreciating communities in the nation for the latest quarter, and may signal the city’s near-future real estate investment strength.
Relative to Missouri, our data show that Bolivar’s latest annual appreciation rate is lower than 60% of the other cities and towns in Missouri.
Information provided by: https://www.neighborhoodscout.com/mo/bolivar/real-estate