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 a population of 11,102, 4,462 total housing units (homes and apartments), and a median house value of $234,349, house prices in Burkburnett are solidly below the national average.
Single-family detached homes are the single most common housing type in Burkburnett, accounting for 78.82% of the city's housing units. Other types of housing that are prevalent in Burkburnett include mobile homes or trailers ( 9.20%), large apartment complexes or high rise apartments ( 6.38%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.79%).
The most prevalent building size and type in Burkburnett are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 62.82% owning and 37.18% 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. Burkburnett's housing was primarily built during this period, from the '40s through the '60s. A full 39.96% of the city's housing hails from this era. Other housing ages represented in Burkburnett include homes built between 1970-1999 ( 35.97%) and housing constructed between 2000 and later ( 18.28%). There's also some housing in Burkburnett built before 1939 ( 5.78%).
Vacant housing appears to be an issue in Burkburnett. Fully 11.33% of the housing stock is classified as vacant. Left unchecked, vacant Burkburnett homes and apartments can be a drag on the real estate market, holding Burkburnett 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.
Burkburnett's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Burkburnett during the period has been just 5.59%, which is lower than 70% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Burkburnett's appreciation rate, at 6.73%, has been at or slightly above the national average. In the latest quarter, Burkburnett's appreciation rate has been 2.49%, which annualizes to a rate of 10.34%.
Relative to Texas, our data show that Burkburnett's latest annual appreciation rate is higher than 90% of the other cities and towns in Texas.
$234,349
for Texas
for nation
4,462
$1,312 / per month