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 42,312 people, 13,786 houses or apartments, and a median cost of homes of $830,403, 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 88.32% of Burke's homes, and 79.95% 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 ( 7.30%). A lesser amount of the housing stock also hails from between 2000 and later ( 2.67%).
Burke's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Burke during the period has been just 4.61%, which is lower than 80% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Burke's appreciation rate, at 5.82%, has been at or slightly above the national average. In the latest quarter, Burke's appreciation rate has been 3.11%, which annualizes to a rate of 13.04%.
Importantly, this makes Burke 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 Virginia, our data show that Burke's latest annual appreciation rate is lower than 60% 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.
$830,403
for Virginia
for nation
13,786
$4,437 / per month