Bessemer City, NC—28016
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Bessemer City, NC
As of Oct '25, the median home price in Bessemer City, NC is $231,000, with a year-over-year change of 1.7%. This indicates that home prices in Bessemer City, NC are increasing. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $231,000 | 1.7% |
| Single Family | $231,000 | 2.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $165,000 | 2.5% |
3 Bed | $246,000 | 2.1% |
4 Bed | $314,000 | 1.9% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Bessemer City, NC
As of July '25, Rentcast reports the average rent in Bessemer City, NC is $1,490, with a year-over-year rent change of -0.7%. Per bedroom, the median rent as of July '25 in Bessemer City, NC is 1-bedrooms: $923, 2-bedrooms: $1,190, 3-bedrooms: $1,660. The most common rental property sizes in Bessemer City, NC are 2-bedroom and 3-bedroom, accounting for 39.6% and 34.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,500 | $1,490 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $925 | $923 |
| 2 Bed Rent | $1,100 | $1,190 |
| 3 Bed Rent | $1,640 | $1,660 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Bessemer City, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Bessemer City, NC is 52. This is a increase of 22.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $276,000 | -6.0% |
Listing Count | 74 | 10.0% |
| Listings as % of Homes | 0.7% | 10.0% |
Days on Market | 52 | 22.0% |
Demographics — Bessemer City, NC
As of the latest ACS Survey released in 2023, Bessemer City, NC has a population of 12,900, which has decreased by -1.3% over the past 5 years. Bessemer City, NC is a moderately popular place for families, as children make up 17.6% of the population. The area has a poorly educated workforce, with 12.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 12,900 | -1.3% |
% Under 18 | 17.6% | -20.4% |
% Seniors | 19.4% | 37.6% |
% WFH | 5.7% | 1,800.0% |
% w/ College Degree | 12.1% | 18.6% |
As of the latest ACS Survey released in 2023, Bessemer City, NC is a predominantly white area, with 83.4% of the population identifying as white. The white population has grown by 3.3% in the last 5 years. The second most common race or ethnicity in Bessemer City, NC is black, making up 7.1% of the population. Foreign-born residents account for 3.0% of the population in Bessemer City, NC, and this percentage has increased by 36.4% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 83.4% | 3.3% |
% Black | 7.1% | -36.0% |
% Hispanic | 5.9% | 11.3% |
% Asian | 0.8% | ∞% |
% Foreign Born | 3.0% | 36.4% |
Mortgage and Risk — Bessemer City, NC
According to HUD data as of 2023, there were 309 mortgage originations in Bessemer City, NC, of which 63.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 39.0% above 90% LTV (very high). This implies large mortgage risk in Bessemer City, NC. Investor activity is low, as 1.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 309 |
% Conventional Loans | 63.0% |
% Government Loans | 37.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Bessemer City, NC
Bessemer City, NC lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 40 |
Total Units Section 8 | 40 |
% Rentals under Section 8 | 2.2% |
% Occupied Section 8 | 83.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $135 | $925 | $1,060 |
| 2 Bedroom | $70 | $1,100 | $1,170 |
| 3 Bedroom | -$200 | $1,640 | $1,440 |
| 4 Bedroom | N/A | N/A | $1,830 |
Affordability — Bessemer City, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.1 |
| Median Home Price | $231,000 |
| Median Household Income | $52,100 |