Burlington, IA Real Estate Market

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 Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Burlington, IA Housing Market Trends

With 24,713 people, 11,017 houses or apartments, and a median cost of homes of $95,080, house prices in Burlington are some of the most affordable in Iowa as well as the nation.

Single-family detached homes are the single most common housing type in Burlington, accounting for 75.61% of the city's housing units. Other types of housing that are prevalent in Burlington include large apartment complexes or high rise apartments ( 10.84%), duplexes, homes converted to apartments or other small apartment buildings ( 8.57%), and a few row houses and other attached homes ( 3.93%).

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 64.95% owning and 35.05% renting.

The housing in Burlington was primarily built before 1939 ( 47.00%), 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 ( 26.98%), followed by between 1970-1999 ( 18.53%). There's also some housing in Burlington built between 2000 and later ( 7.49%).

Vacant housing appears to be an issue in Burlington. Fully 10.47% 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.

Burlington Home Appreciation Rates

Burlington's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Burlington during the period has been just 2.00%, which is lower than 80% of US communities.

Over the last year, Burlington appreciation rates have trailed the rest of the nation. In the last twelve months, Burlington's appreciation rate has been 5.43%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Burlington were at 1.42%, which equates to an annual appreciation rate of 5.82%.

Notably, Burlington's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Iowa, our data show that Burlington's latest annual appreciation rate is lower than 60% of the other cities and towns in Iowa.

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.

Average Home Values

 

Median Home Value:
$95,080

Burlington, IA HOME PRICES

> $1,088,000
0.1%
0.1%
$816,001 - $1,088,000
0.0%
0.0%
$544,001 - $816,000
0.7%
0.7%
$435,001 - $544,000
0.3%
0.3%
$326,001 - $435,000
2.3%
2.3%
$218,001 - $326,000
6.9%
6.9%
$109,001 - $218,000
28.4%
28.4%
$54,001 - $109,000
44.3%
44.3%
$0 - $54,000
17.0%
17.0%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very Low for Nation

Very Low for IA

Value Relative To Nation

Number Of Homes And Apartments:
11,017

Burlington Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IA*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
42.93% 1.68%
1
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,045 / per month

Homeownership Rate

Owners
64.9%
64.9%
Renters
35.1%
35.1%
Vacant
10.5%
10.5%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
7.5%
7.5%
1970 - 1999
18.5%
18.5%
1940 - 1969
27.0%
27.0%
1939 or Older
47.0%
47.0%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
75.6%
75.6%
Townhomes
3.9%
3.9%
Small Apt. Buildings
8.6%
8.6%
Apt. Complexes
10.8%
10.8%
Mobile Homes
0.7%
0.7%
Other
0.3%
0.3%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.3%
2.3%
1 Bedroom
11.9%
11.9%
2 Bedrooms
32.1%
32.1%
3 Bedrooms
39.6%
39.6%
4 Bedrooms
10.1%
10.1%
5 or more bedrooms
4.0%
4.0%
0.0% 100.0%
% OF HOMES