Burton, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Burton, MI Real Estate Data


Burton Housing Market Information

With a population of 28,788, 11,458 total housing units (homes and apartments), and a median house value of $67,986, house prices in Burton are some of the most affordable in Michigan as well as the nation.

Single-family detached homes are the single most common housing type in Burton, accounting for 82.35% of the city's housing units. Other types of housing that are prevalent in Burton include large apartment complexes or high rise apartments ( 8.53%), mobile homes or trailers ( 6.08%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.88%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Burton. Owner-occupied housing accounts for 71.57% of Burton's homes, and 63.44% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Burton's housing was primarily built during this period, from the '40s through the '60s. A full 54.95% of the city's housing hails from this era. Other housing ages represented in Burton include homes built between 1970-1999 ( 26.64%) and housing constructed between 2000 and later ( 10.98%). There's also some housing in Burton built before 1939 ( 7.43%).

Burton Home Appreciation Rates

Homes have actually lost value in Burton over the last then years, as home values have seen a decline of 30.34% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Burton home appreciation rates at -0.68%, which equates to an annual appreciation rate of -2.70%.

Over the last year, Burton appreciation rates have trailed the rest of the nation. In the last twelve months, Burton's appreciation rate has been -3.10%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Burton were at -0.68%, which equates to an annual appreciation rate of -2.70%.

Notably, Burton's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Michigan, our data show that Burton's latest annual appreciation rate is lower than 90% of the other cities and towns in Michigan.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Burton differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Burton - 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 Burton real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$67,986

Burton, MI HOME PRICES

Value Range
> $1,106,000 0.0
$830,001 - $1,106,000 0.0
$553,001 - $830,000 0.2
$442,001 - $553,000 0.2
$332,001 - $442,000 0.1
$221,001 - $332,000 1.4
$111,001 - $221,000 23.4
$56,001 - $111,000 39.2
$0 - $56,000 35.4

Very Low for MI
Very Low for Nation

Value Relative to Nation Value Relative to State
95.9568733153639 95.5128205128205

Number Of Homes And Apartments:
11,458

Rent & Ownership

 

Average Market Rent:
$952 / per month

Homeownership Rate

Homeownership
Owners 71.57
Renters 28.43
Vacant 9.81

Housing Market Details

 

Age of Homes

AGE OF Burton HOMES
2000 or Newer 11.0
1970 - 1999 26.6
1940 - 1969 55.0
1939 or Older 7.4

Types of Homes

TYPE OF Burton HOMES
Single-Family 82.4
Townhomes 1.1
Small Apt. Buildings 1.9
Apt. Complexes 8.5
Mobile Homes 6.1
Other 0.0

Home Size

SIZE OF Burton HOMES
No Bedroom 0.35
1 Bedroom 6.14
2 Bedrooms 28.13
3 Bedrooms 51.98
4 Bedrooms 11.47
5 or more bedrooms 1.94

Burton Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
-23.47% -1.54% 1 1
* 10 is highest