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 703 people, 393 houses or apartments, and a median cost of homes of $162,278, house prices in Burnside are solidly below the national average.
Single-family detached homes are the single most common housing type in Burnside, accounting for 83.23% of the city's housing units. Other types of housing that are prevalent in Burnside include duplexes, homes converted to apartments or other small apartment buildings ( 12.32%), mobile homes or trailers ( 3.64%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Burnside. Owner-occupied housing accounts for 91.35% of Burnside's homes, and 62.83% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Burnside 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 Burnside built between 1940-1969 ( 24.44%). A lesser amount of the housing stock also hails from before 1939 ( 13.94%). There's also some housing in Burnside built between 2000 and later ( 13.54%).
Vacant housing appears to be an issue in Burnside. Fully 20.61% of the housing stock is classified as vacant. Left unchecked, vacant Burnside homes and apartments can be a drag on the real estate market, holding Burnside 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.
Real estate appreciation rates in Burnside's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.44% during the period.
NeighborhoodScout's data show that during the latest twelve months, Burnside's appreciation rate, at 10.85%, has been at or slightly above the national average. In the latest quarter, Burnside's appreciation rate has been 5.00%, which annualizes to a rate of 21.55%.
Importantly, this makes Burnside one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Kentucky, our data show that Burnside's latest annual appreciation rate is higher than 60% of the other cities and towns in Kentucky.
$162,278
for Kentucky
for nation
393
$1,317 / per month