Burgaw NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Burgaw, NC Real Estate Data

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 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Burgaw Housing Market Information

With 4,140 people, 1,061 houses or apartments, and a median cost of homes of $169,786, Burgaw real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Burgaw, accounting for 69.44% of the town's housing units. Other types of housing that are prevalent in Burgaw include large apartment complexes or high rise apartments ( 20.33%), mobile homes or trailers ( 5.71%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.53%).

The most prevalent building size and type in Burgaw are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 49.58% owning and 50.42% renting.

There is a lot of housing in Burgaw 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 Burgaw built between 1940-1969 ( 30.42%). A lesser amount of the housing stock also hails from between 2000 and later ( 19.29%). There's also some housing in Burgaw built before 1939 ( 11.65%).

Vacant housing appears to be an issue in Burgaw. Fully 21.29% of the housing stock is classified as vacant. Left unchecked, vacant Burgaw homes and apartments can be a drag on the real estate market, holding Burgaw 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.

Burgaw Home Appreciation Rates

Burgaw's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Burgaw during the period has been just 0.35%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Burgaw's appreciation rate, at 4.89%, has been at or slightly above the national average. In the latest quarter, Burgaw's appreciation rate has been 3.88%, which annualizes to a rate of 16.44%.

Importantly, this makes Burgaw one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

Relative to North Carolina, our data show that Burgaw's latest annual appreciation rate is higher than 50% of the other cities and towns in North Carolina.

Average Home Values

 

Median Home Value:
$169,786

Burgaw, NC HOME PRICES

Value Range
> $1,179,000 0.0
$884,001 - $1,179,000 0.0
$589,001 - $884,000 2.9
$471,001 - $589,000 1.3
$354,001 - $471,000 2.7
$236,001 - $354,000 9.9
$118,001 - $236,000 46.5
$59,001 - $118,000 25.8
$0 - $59,000 10.8

Average for NC
Average for Nation

Value Relative to Nation Value Relative to State
50.3153284671533 43.9311594202899

Number Of Homes And Apartments:
1,061

Burgaw Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2019 Q2 - 2019 Q3
Last 12 Months:
2018 Q3 - 2019 Q3
Last 2 Years:
2017 Q3 - 2019 Q3
Last 5 Years:
2014 Q3 - 2019 Q3
Last 10 Years:
2009 Q3 - 2019 Q3
Since 2000:
2000 Q1 - 2019 Q3
42.22% 1.80%
5
3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,043 / per month

Homeownership Rate

Homeownership
Owners 49.58
Renters 50.42
Vacant 21.29

Housing Market Details

 

Age of Homes

AGE OF Burgaw HOMES
2000 or Newer 19.3
1970 - 1999 38.6
1940 - 1969 30.4
1939 or Older 11.6

Types of Homes

TYPE OF Burgaw HOMES
Single-Family 69.4
Townhomes 0.0
Small Apt. Buildings 4.5
Apt. Complexes 20.3
Mobile Homes 5.7
Other 0.0

Home Size

SIZE OF Burgaw HOMES
No Bedroom 0.00
1 Bedroom 10.76
2 Bedrooms 23.59
3 Bedrooms 55.64
4 Bedrooms 7.79
5 or more bedrooms 2.23

Popular Neighborhoods in Burgaw

Zip Codes in Burgaw, NC