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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
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'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.
|$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|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2019 Q3
|* 10 is highest|
|AGE OF Burgaw HOMES|
|2000 or Newer||19.3|
|1970 - 1999||38.6|
|1940 - 1969||30.4|
|1939 or Older||11.6|
|TYPE OF Burgaw HOMES|
|Small Apt. Buildings||4.5|
|SIZE OF Burgaw HOMES|
|5 or more bedrooms||2.23|