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Burlington real estate market overview
- Average Monthly Rent: $1,291
- Home Price/Value Percentage Change: 13.2%
- Median Home Value: $201,441
- Best Time To Sell a Home: December
- Affordability Index: 79
- Days To Sell a House: 61
- Job Market: Fair
- Public School Ranking: 29
Location and weather
Burlington sits 20 miles west of Greensboro and 30 miles east of Durham, in Alamance and Guilford counties. Access to Greensboro provides Burlington residents with growing community benefits, as well as an easy commute to Downtown Greensboro and access to a number of universities, theatres, parks and golf courses within the region. Only a couple hours away are the Great Smoky Mountains and Blue Ridge, which also attract tourists and Burlington residents year-round.
Due to its location, Burlington's climate consists of coastal moisture and northern cold air. Snow flurries can occur during the winter seasons, but summers are humid and warm. The mean annual temperature is 61 degrees, and there is an average of 51 inches of rain throughout the year.
Population, job market and cost of living
Burlington has a population of 59,505, with a growth rate of 1.25% annually.
The job market has decreased by -6.63% over the last year. In ten years, job growth is predicted to be 34.09%. Some growing industries in this city are health care, bio-science, manufacturing and education. LapCorp is also the largest employer headquartered here, employing over 3000 residents of the city.
Burlington is an affordable city in North Carolina, with a lower cost of living than the North Carolina and US average. Housing costs in particular are very low here, which has contributed to potential new residents looking to reside here.
Burlington real estate market details
- Central Burlington/City Center
- Burlington Northwest
- Glen Raven
- Southwest Burlington
- Carolina/Glencoe
The average monthly rent in Burlington is $1,291 for an average apartment size of 969 sq. feet.
There has been a 13.2% increase in median home value over the last year. As of 2022, the median home value is $201,441.
On average, homes in Burlington sell after 61 days on the market.
The best time to sell a home in Burlington for the highest value is during December. For those more interested in a fast sale should sell in November.
The affordability index in Burlington is 79 This number indicates high affordability in this city.
The top ranked public schools are Marvin B Smith Elementary, Edwin M Holt Elementary, Highland Elementary, Walter M Williams High, and Turrentine Middle. This information is based on general educator statistics, school attendance, and the US Department of Education.