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Burnsville, MN Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q3 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Burnsville, MN Housing Market Trends

With 63,943 people, 23,898 houses or apartments, and a median cost of homes of $350,955, Burnsville real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Burnsville, accounting for 46.78% of the city's housing units. Other types of housing that are prevalent in Burnsville include large apartment complexes or high rise apartments ( 29.97%), row houses and other attached homes ( 17.79%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.80%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Burnsville. Owner-occupied housing accounts for 67.74% of Burnsville's homes, and 51.44% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Burnsville 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 Burnsville built between 1940-1969 ( 20.77%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.77%). There's also some housing in Burnsville built before 1939 ( 1.33%).

Burnsville Home Appreciation Rates

Appreciation rates for homes in Burnsville have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 88.91%, which ranks in the top 40% nationwide. This equates to an annual average Burnsville house appreciation rate of 6.57%.

Over the last year, Burnsville appreciation rates have trailed the rest of the nation. In the last twelve months, Burnsville's appreciation rate has been 9.82%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Burnsville were at 4.62%, which equates to an annual appreciation rate of 19.81%.

Relative to Minnesota, our data show that Burnsville's latest annual appreciation rate is lower than 80% of the other cities and towns in Minnesota.

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

Average Home Values

 

Median Home Value:
$350,955

Burnsville, MN HOME PRICES

> $1,365,000
$1,024,001 - $1,365,000
$682,001 - $1,024,000
$546,001 - $682,000
$409,001 - $546,000
$273,001 - $409,000
$136,001 - $273,000
$68,001 - $136,000
$0 - $68,000
0.2%
0.2%
0.4%
0.4%
2.8%
2.8%
4.6%
4.6%
23.1%
23.1%
42.7%
42.7%
17.2%
17.2%
4.7%
4.7%
4.2%
4.2%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

High for MN

Value Relative To Nation

Number Of Homes And Apartments:
23,898

Burnsville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MN*
Compared To
America*
Latest Quarter:
2022 Q2 - 2022 Q3
Last 12 Months:
2021 Q3 - 2022 Q3
Last 2 Years:
2020 Q3 - 2022 Q3
Last 5 Years:
2017 Q3 - 2022 Q3
Last 10 Years:
2012 Q3 - 2022 Q3
Since 2000:
2000 Q1 - 2022 Q3
98.99% 3.07%
4
4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,932 / per month

Homeownership Rate

Owners
Renters
Vacant
67.7%
67.7%
32.3%
32.3%
3.8%
3.8%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
9.8%
9.8%
68.1%
68.1%
20.8%
20.8%
1.3%
1.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
46.8%
46.8%
17.8%
17.8%
2.8%
2.8%
30.0%
30.0%
2.7%
2.7%
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.4%
1.4%
12.4%
12.4%
27.8%
27.8%
29.9%
29.9%
21.5%
21.5%
7.0%
7.0%
0.0% 100.0%
% OF HOMES