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 3,308, 1,078 total housing units (homes and apartments), and a median house value of $328,357, Burgaw real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Burgaw, accounting for 65.80% of the town's housing units. Other types of housing that are prevalent in Burgaw include large apartment complexes or high rise apartments ( 13.86%), mobile homes or trailers ( 12.40%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.54%).
The most prevalent building size and type in Burgaw are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 47.47% owning and 52.53% renting.
There is a lot of housing in Burgaw 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 Burgaw built between 2000 and later ( 29.01%). A lesser amount of the housing stock also hails from between 1940-1969 ( 16.94%). There's also some housing in Burgaw built before 1939 ( 16.94%).
Vacant housing appears to be an issue in Burgaw. Fully 12.64% of the housing stock is classified as vacant. Left unchecked, vacant Burgaw homes and apartments can be a drag on the real estate market, holding Burgaw 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.
Appreciation rates for homes in Burgaw have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 104.89%, which ranks in the top 30% nationwide. This equates to an annual average Burgaw house appreciation rate of 7.44%.
NeighborhoodScout's data show that during the latest twelve months, Burgaw's appreciation rate, at 7.83%, has been at or slightly above the national average. In the latest quarter, Burgaw's appreciation rate has been 3.56%, which annualizes to a rate of 15.02%.
Importantly, this makes Burgaw 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 North Carolina, our data show that Burgaw's latest annual appreciation rate is higher than 60% of the other cities and towns in North Carolina.
$328,357
for North carolina
for nation
1,078
$1,453 / per month