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 about Scout's Real Estate Data
With 10,016 people, 3,767 houses or apartments, and a median cost of homes of $292,379, Burlington real estate values are some of the lowest in New Jersey, although compared to real estate around the nation, Burlington homes are still considered rather expensive.
Single-family detached homes are the single most common housing type in Burlington, accounting for 48.93% of the city's housing units. Other types of housing that are prevalent in Burlington include row houses and other attached homes ( 29.59%), large apartment complexes or high rise apartments ( 13.72%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.77%).
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 64.14% owning and 35.86% renting.
The housing in Burlington was primarily built before 1939 ( 43.00%), making the housing stock in Burlington some of the oldest overall in America, although there is a range of ages of homes in Burlington. The next most important housing age is between 1940-1969 ( 29.87%), followed by between 1970-1999 ( 19.24%). There's also some housing in Burlington built between 2000 and later ( 7.89%).
Vacant housing appears to be an issue in Burlington. Fully 11.05% 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.
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 6.42% during the period.
Appreciation rates are so strong in Burlington that despite a nationwide downturn in the housing market, Burlington real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Burlington appreciation rates continue to be some of the highest in America, at 9.04%, which is higher than appreciation rates in 81.08% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Burlington. Burlington appreciation rates in the latest quarter were at 1.44%, which equates to an annual appreciation rate of 5.90%.
Relative to New Jersey, our data show that Burlington's latest annual appreciation rate is lower than 70% of the other cities and towns in New Jersey.
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.
$292,379
for New jersey
for nation
3,767
$2,527 / per month