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 a population of 1,473, 562 total housing units (homes and apartments), and a median house value of $188,810, Burns real estate is some of the most expensive in Tennessee, although Burns home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Burns, accounting for 84.75% of the town's housing units. Other types of housing that are prevalent in Burns include mobile homes or trailers ( 9.40%), duplexes, homes converted to apartments or other small apartment buildings ( 2.93%), and a few large apartment complexes or high rise apartments ( 1.23%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Burns. Owner-occupied housing accounts for 71.17% of Burns's homes, and 70.72% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Burns 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 Burns built between 1940-1969 ( 29.58%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.02%). There's also some housing in Burns built before 1939 ( 9.24%).
Vacant housing appears to be an issue in Burns. Fully 13.41% of the housing stock is classified as vacant. Left unchecked, vacant Burns homes and apartments can be a drag on the real estate market, holding Burns 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.
In the last 10 years, Burns has experienced some of the highest home appreciation rates of any community in the nation. Burns real estate appreciated 15.47% over the last ten years, which is an average annual home appreciation rate of 1.45%, putting Burns in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Burns definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Burns that despite a nationwide downturn in the housing market, Burns real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Burns appreciation rates continue to be some of the highest in America, at 8.14%, which is higher than appreciation rates in 87.43% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Burns. Burns appreciation rates in the latest quarter were at 2.76%, which equates to an annual appreciation rate of 11.51%.
Importantly, this makes Burns 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 Tennessee, our data show that Burns's latest annual appreciation rate is higher than 80% of the other cities and towns in Tennessee.
|$901,001 - $1,202,000||0.6|
|$600,001 - $901,000||0.8|
|$481,001 - $600,000||1.4|
|$360,001 - $481,000||10.0|
|$240,001 - $360,000||23.2|
|$120,001 - $240,000||45.6|
|$60,001 - $120,000||10.7|
|$0 - $60,000||5.4|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Burns HOMES|
|2000 or Newer||14.0|
|1970 - 1999||47.1|
|1940 - 1969||29.6|
|1939 or Older||9.2|
|TYPE OF Burns HOMES|
|Small Apt. Buildings||2.9|
|SIZE OF Burns HOMES|
|5 or more bedrooms||2.16|