Burlington, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Burlington, NC Real Estate Data


Burlington Housing Market Information

With a population of 52,472, 21,562 total housing units (homes and apartments), and a median house value of $132,897, house prices in Burlington are solidly below the national average.

Single-family detached homes are the single most common housing type in Burlington, accounting for 64.10% of the city's housing units. Other types of housing that are prevalent in Burlington include large apartment complexes or high rise apartments ( 19.09%), duplexes, homes converted to apartments or other small apartment buildings ( 9.98%), and a few row houses and other attached homes ( 3.43%).

The most prevalent building size and type in Burlington are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 53.78% owning and 46.22% renting.

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. Burlington's housing was primarily built during this period, from the '40s through the '60s. A full 40.44% of the city's housing hails from this era. Other housing ages represented in Burlington include homes built between 1970-1999 ( 36.70%) and housing constructed between 2000 and later ( 15.40%). There's also some housing in Burlington built before 1939 ( 7.47%).

Vacant housing appears to be an issue in Burlington. Fully 10.40% of the housing stock is classified as vacant. Left unchecked, vacant Burlington homes and apartments can be a drag on the real estate market, holding Burlington 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.

Burlington Home Appreciation Rates

Real estate appreciation rates in Burlington's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.47% during the period.

NeighborhoodScout's data show that during the latest twelve months, Burlington's appreciation rate, at 3.73%, has been at or slightly above the national average. In the latest quarter, Burlington's appreciation rate has been -0.62%, which annualizes to a rate of -2.48%.

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

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

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

Average Home Values

 

Median Home Value:
$132,897

Burlington, NC HOME PRICES

Value Range
> $1,059,000 0.3
$794,001 - $1,059,000 0.6
$529,001 - $794,000 1.1
$424,001 - $529,000 1.4
$318,001 - $424,000 3.9
$211,001 - $318,000 7.9
$106,001 - $211,000 43.7
$53,001 - $106,000 32.4
$0 - $53,000 8.7

Average for NC
Average for Nation

Value Relative to Nation Value Relative to State
58.1038321809446 53.9019963702359

Number Of Homes And Apartments:
21,562

Rent & Ownership

 

Average Market Rent:
$1,016 / per month

Homeownership Rate

Homeownership
Owners 53.78
Renters 46.22
Vacant 10.40

Housing Market Details

 

Age of Homes

AGE OF Burlington HOMES
2000 or Newer 15.4
1970 - 1999 36.7
1940 - 1969 40.4
1939 or Older 7.5

Types of Homes

TYPE OF Burlington HOMES
Single-Family 64.1
Townhomes 3.4
Small Apt. Buildings 10.0
Apt. Complexes 19.1
Mobile Homes 3.4
Other 0.0

Home Size

SIZE OF Burlington HOMES
No Bedroom 1.01
1 Bedroom 11.11
2 Bedrooms 33.76
3 Bedrooms 41.89
4 Bedrooms 9.47
5 or more bedrooms 2.76

Burlington Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
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
1.65% 0.10% 1 1
* 10 is highest