Let me provide you with information about the housing market and median income in Burke, Virginia.

Home Prices:

As of October 2024, the median sale price of homes in Burke is approximately $769,000, which is a 15.6% increase from the previous year. On average, homes are selling after about 23 days on the market.

Median Income:

The median household income in Burke is about $172,432, the highest level in Virginia and the entire United States.

Living Costs:

The cost of living in Burke is higher than the national average. As of 2024, Burke's cost of living index is 155, which is 1.6 times higher than the national average of 100. This means that living costs are 60% higher than the national average.

Rent Costs:

The average rent for a 2-bedroom apartment in Burke is about $2,400, which is 67.8% higher than the national average of $1,430.

Homeownership Rate:

The homeownership rate in Burke is about 87%, indicating stability as a residential area.

Burke is a region with high income levels and residential stability, and the housing market is actively operating.

It would be good to consider these factors when buying or renting a home.

The average home value in Burke, Virginia is $707,749, which is a 5.6% increase from the previous year. The median sale price per square foot in Burke is $367. On average, homes in Burke sell after 39 days on the market compared to 25 days last year. There were 25 homes sold in November 2024, up from 22 last year.