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Burnet, TX 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 Q2 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

Burnet, TX Housing Market Trends

With a population of 6,436, 2,142 total housing units (homes and apartments), and a median house value of $279,190, Burnet real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Burnet, accounting for 75.65% of the city's housing units. Other types of housing that are prevalent in Burnet include large apartment complexes or high rise apartments ( 11.76%), duplexes, homes converted to apartments or other small apartment buildings ( 6.79%), and a few row houses and other attached homes ( 5.59%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Burnet. Owner-occupied housing accounts for 65.19% of Burnet's homes, and 65.18% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Burnet 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 Burnet built between 2000 and later ( 34.49%). A lesser amount of the housing stock also hails from between 1940-1969 ( 24.22%). There's also some housing in Burnet built before 1939 ( 2.73%).

Vacant housing appears to be an issue in Burnet. Fully 11.30% of the housing stock is classified as vacant. Left unchecked, vacant Burnet homes and apartments can be a drag on the real estate market, holding Burnet 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.

Burnet Home Appreciation Rates

In the last 10 years, Burnet has experienced some of the highest home appreciation rates of any community in the nation. Burnet real estate appreciated 103.91% over the last ten years, which is an average annual home appreciation rate of 7.38%, putting Burnet in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Burnet 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 Burnet that despite a nationwide downturn in the housing market, Burnet real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Burnet appreciation rates continue to be some of the highest in America, at 17.91%, which is higher than appreciation rates in 75.66% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Burnet. Burnet appreciation rates in the latest quarter were at 4.53%, which equates to an annual appreciation rate of 19.40%.

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

Relative to Texas, our data show that Burnet's latest annual appreciation rate is lower than 70% of the other cities and towns in Texas.

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

Average Home Values

 

Median Home Value:
$279,190

Burnet, TX HOME PRICES

> $1,497,000
$1,123,001 - $1,497,000
$749,001 - $1,123,000
$599,001 - $749,000
$449,001 - $599,000
$299,001 - $449,000
$150,001 - $299,000
$75,001 - $150,000
$0 - $75,000
0.3%
0.3%
0.2%
0.2%
1.4%
1.4%
1.4%
1.4%
5.6%
5.6%
18.2%
18.2%
52.8%
52.8%
18.4%
18.4%
1.8%
1.8%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

High for TX

Value Relative To Nation

Number Of Homes And Apartments:
2,142

Burnet Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TX*
Compared To
America*
Latest Quarter:
2022 Q1 - 2022 Q2
Last 12 Months:
2021 Q2 - 2022 Q2
Last 2 Years:
2020 Q2 - 2022 Q2
Last 5 Years:
2017 Q2 - 2022 Q2
Last 10 Years:
2012 Q2 - 2022 Q2
Since 2000:
2000 Q1 - 2022 Q2
178.07% 4.65%
6
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,564 / per month

Homeownership Rate

Owners
Renters
Vacant
65.2%
65.2%
34.8%
34.8%
11.3%
11.3%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
34.5%
34.5%
38.6%
38.6%
24.2%
24.2%
2.7%
2.7%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
75.7%
75.7%
5.6%
5.6%
6.8%
6.8%
11.8%
11.8%
0.2%
0.2%
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
5.0%
5.0%
2.4%
2.4%
27.4%
27.4%
55.5%
55.5%
9.7%
9.7%
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Popular Communities Near Burnet, TX

Zip Codes in Burnet, TX