Home Value by Bedroom Count
The typical home value in an area split by bedroom count, from one bedroom to five or more.
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Zillow publishes the Home Value Index separately for each bedroom count, so the Zillow home value family's all-homes reading can be broken into five parallel values: one for one-bedroom homes, one for two-bedroom homes, and so on through five or more bedrooms. Each is built the same way as the all-homes index — a valuation of every home in the area rather than only the ones that sold, filtered to homes of that bedroom count (Zillow Home Value Index Methodology, 2019 Revision).
A five-bedroom home and a one-bedroom home are different products bought by different households, so comparing an area's overall home value to a neighbor's can obscure which part of the housing stock is actually driving a difference. Splitting by bedroom count lets a reader compare like with like — whether a one-bedroom condo costs more here than there, independent of how many larger homes each area also holds.
Metrics in this family#
Zillow home value, 1 bedroom
levelThe most recent monthly index value for 1-bedroom homes, in dollars.
Zillow home value, 2 bedroom
levelThe most recent monthly index value for 2-bedroom homes, in dollars.
Zillow home value, 3 bedroom
levelThe most recent monthly index value for 3-bedroom homes, in dollars.
Zillow home value, 4 bedroom
levelThe most recent monthly index value for 4-bedroom homes, in dollars.
Zillow home value, 5+ bedroom
levelThe most recent monthly index value for homes with 5 or more bedrooms, in dollars.
Considerations#
Coverage thins as bedroom count moves away from the middle of the market. The one-bedroom and five-or-more-bedroom cuts rest on far fewer sales than the two- and three-bedroom cuts, so they reach fewer areas, and an area's five cuts are not all available even where its all-homes figure is. Nothing is filled in from a neighboring bedroom count or from the all-homes figure where a cut is missing.
These are model outputs, not listings. As with every ZHVI cut, each bedroom-count value rests on Zillow's valuation of individual homes rather than on observed sale prices, so wherever those valuations are weak the value inherits that weakness.
Tract figures are assembled, not published. A tract's value for a given bedroom count is a blend of the overlapping ZIP codes' values for that same count, weighted by shared housing units — the same method used for the all-homes index — and is therefore smoother than the tract itself really is.
The values are nominal, smoothed, and seasonally adjusted, and short-run price movements are damped — see Zillow Home Value Index for the coverage and construction details common to every cut.
References#
- 1Zillow Home Value Index Methodology, 2019 Revisionhttps://www.zillow.com/research/zhvi-methodology-2019-deep-26226/