Burke, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Burke, VA 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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

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

Burke Housing Market Information

With 43,169 people, 13,535 houses or apartments, and a median cost of homes of $546,052, Burke house prices are not only among the most expensive in Virginia, Burke real estate also is some of the most expensive in all of America.

Burke is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Burke than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Burke. Owner-occupied housing accounts for 85.10% of Burke's homes, and 82.85% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Burke 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 Burke built between 1940-1969 ( 8.95%). A lesser amount of the housing stock also hails from between 2000 and later ( 1.56%).

Burke Home Appreciation Rates

Real estate appreciation rates in Burke's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.23% during the period.

Over the last year, Burke appreciation rates have trailed the rest of the nation. In the last twelve months, Burke's appreciation rate has been 1.51%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Burke were at -0.17%, which equates to an annual appreciation rate of -0.70%.

Relative to Virginia, our data show that Burke's latest annual appreciation rate is lower than 50% of the other cities and towns in Virginia.

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

Average Home Values

 

Median Home Value:
$546,052

Burke, VA HOME PRICES

Value Range
> $1,107,000 0.5
$830,001 - $1,107,000 2.9
$554,001 - $830,000 42.3
$443,001 - $554,000 21.7
$332,001 - $443,000 23.1
$221,001 - $332,000 6.4
$111,001 - $221,000 1.1
$55,001 - $111,000 0.2
$0 - $55,000 1.8

Very High for VA
Very High for Nation

Value Relative to Nation Value Relative to State
4.79901558654635 4.43213296398892

Number Of Homes And Apartments:
13,535

Burke Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
VA*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2017 Q1
110.39% 4.41% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,999 / per month

Homeownership Rate

Homeownership
Owners 85.10
Renters 14.90
Vacant 2.07

Housing Market Details

 

Age of Homes

AGE OF Burke HOMES
2000 or Newer 1.6
1970 - 1999 89.1
1940 - 1969 9.0
1939 or Older 0.4

Types of Homes

TYPE OF Burke HOMES
Single-Family 63.7
Townhomes 34.3
Small Apt. Buildings 0.4
Apt. Complexes 1.5
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Burke HOMES
No Bedroom 0.13
1 Bedroom 0.55
2 Bedrooms 2.38
3 Bedrooms 38.67
4 Bedrooms 44.18
5 or more bedrooms 14.09