Burke, Virginia Housing Market Prices
Burke Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 131% above the Virginia median$591,229
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Median rent 82% above the Virginia median$2,878
Housing Market Overview
| Metric | Burke | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $591,229 | $256,082 | $248,835 |
| Price Trend (Annual %) | 2.3% | 3.5% | 7.5% |
| Median Gross Rent | $2,878 | $1,579 | $1,407 |
| Rent Trend (Annual %) | 3.0% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Burke is about 131% higher than in Virginia. Rent is about 82% higher than the Virginia average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Burke, up about 2.3% and 3.0% a year respectively. Rent is changing faster.
Median rent in Burke rose about 28.9% between 2015 and 2024, from $2,233 to $2,878. Over the same span, rent in Virginia rose about 41.5%.
Affordability
On average, housing unit costs 3.2 yearly household incomes in Burke.
Buying the median-priced home in Burke costs roughly 17.1 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Burke. The price-to-rent ratio in Virginia is about 13.5.
| Metric | Burke | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $591,229 | $256,082 | $248,835 |
| Median Household Income | $185,486 | $93,527 | $80,455 |
| Price-to-Income Ratio | 3.2 | 2.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Burke rose about 10.5%, while median household income rose about 42.5% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Burke | Virginia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 88.5% | 61.5% | 58.5% |
| Rental Rate | 10.4% | 29.8% | 31.2% |
| Vacancy Rate | 1.0% | 8.7% | 10.2% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
Burke has a homeownership rate of 88.5%, higher than the Virginia average of 61.5%. Its housing vacancy rate is 1.0%, compared with 8.7% in Virginia.
Housing Stock
| Metric | Burke | Virginia Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.21 people | 2.52 people | 2.53 people |
| Median Structure Built Year | 1979 | 1982 | 1978 |
| Median Number of Rooms | 7.9 | 6.0 | 5.5 |
The typical housing unit in Burke was built around 1979. On average, 3.2 people live in a home with about 7.9 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Burke, Virginia.
What is the median home price in Burke, Virginia?
The median home price in Burke, Virginia is $591,229, higher than the Virginia average of $256,082.
What is the average home price in Burke, Virginia?
The typical home price in Burke, Virginia, reported as the median sale price, is $591,229. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Burke, Virginia?
The median gross rent in Burke, Virginia is $2,878 per month, higher than the Virginia average of $1,579.
What was the median gross rent in Burke in 2020?
In 2020, the median gross rent in Burke, Virginia was $2,356 per month.
What is the price-to-rent ratio in Burke, Virginia?
The price-to-rent ratio in Burke, Virginia is about 17.1, meaning it would take roughly 17.1 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Burke.
Are home prices or rent rising faster in Burke, Virginia?
Both home prices and rent are rising in Burke, up about 2.3% and 3.0% a year respectively. Rent is changing faster.
What is the homeownership rate in Burke, Virginia?
88.5% of households in Burke, Virginia own their home, higher than the Virginia average of 61.5%.
What is the vacancy rate in Burke, Virginia?
The housing vacancy rate in Burke, Virginia is 1.0%, lower than the Virginia average of 8.7%.
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