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 6,710, 2,243 total housing units (homes and apartments), and a median house value of $340,838, Burnet real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Burnet, accounting for 82.17% of the city's housing units. Other types of housing that are prevalent in Burnet include large apartment complexes or high rise apartments ( 9.08%), duplexes, homes converted to apartments or other small apartment buildings ( 4.85%), and a few mobile homes or trailers ( 2.40%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Burnet. Owner-occupied housing accounts for 70.60% of Burnet's homes, and 65.38% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Burnet 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 Burnet built between 2000 and later ( 36.11%). A lesser amount of the housing stock also hails from between 1940-1969 ( 21.60%). There's also some housing in Burnet built before 1939 ( 3.90%).
In the last 10 years, Burnet has experienced some of the highest home appreciation rates of any community in the nation. Burnet real estate appreciated 140.86% over the last ten years, which is an average annual home appreciation rate of 9.19%, putting Burnet in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Burnet definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Burnet appreciation rates have trailed the rest of the nation. In the last twelve months, Burnet's appreciation rate has been 3.52%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Burnet were at 1.51%, which equates to an annual appreciation rate of 6.17%.
Relative to Texas, our data show that Burnet's latest annual appreciation rate is lower than 60% of the other cities and towns in Texas.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Burnet differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Burnet - 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 Burnet real estate investment or home purchase decisions.
$340,838
for Texas
for nation
2,243
$1,942 / per month