Burlington, NC
The numbers that matter most
What an investor checks first when sizing up a new metro — affordability ratio, rent vs income, cap rate proxy, and where the market is moving. Each metric shown vs. state and national medians for instant context.
moderate
Price to income
3.43×
The single most-cited 'is this market still cheap' check. Below 3× and you're in an affordability tailwind.
- vs North Carolina
- 3.36×
- vs U.S.
- 3.43×
Benchmark
ACS median home value ÷ median HHI
moderate
Rent to income
25.1%
What share of a typical household's income goes to rent. Below 30% means tenants can absorb modest rent increases.
- vs North Carolina
- 25.2%-0.1
- vs U.S.
- 23.3%
Benchmark
(HUD FMR 2BR × 12) ÷ median HHI
deal-by-deal
Cap rate proxy
4.75%
Rough first-pass yield assuming a 35% expense ratio. Not an underwriting number — a 'is this even worth modeling' filter.
- vs North Carolina
- 4.41%+0.35
- vs U.S.
- 4.35%+0.41
Benchmark
(FMR 2BR × 12 × 0.65) ÷ ACS median home value
steady
Net migration
+0.39%
Forward-looking demand signal. Positive net migration drives rent growth and absorbs new supply.
- vs North Carolina
- 0.20%+0.19
- vs U.S.
- 0.03%+0.36
Benchmark
IRS net migration ÷ population
strong
Permit pipeline
11.40
permits per 1,000 residents
Forward-supply indicator. Above ~5 means the metro is building meaningfully relative to its size; below 2 means supply is tight.
- vs North Carolina
- 7.51+3.90
- vs U.S.
- 3.52+7.88
Benchmark
Census BPS permits TTM ÷ population × 1,000
healthy
Unemployment
3.4%
Tighter unemployment means higher wages, more rental demand, lower vacancy.
- vs North Carolina
- 3.5%-0.1
- vs U.S.
- 3.9%-0.5
Benchmark
BLS LAUS, latest month
Where prices are and where they've been
5-year price appreciation
+64.1%
homeValues.yearOverYear
+2.2%
Median home value
$221,200
The rent ladder
| Bedroom | Monthly | Annual | % of median HHI |
|---|---|---|---|
| 1 BR | $1,230 | $14,760 | 22.9% |
| 2 BR | $1,348 | $16,176 | 25.1% |
| 3 BR | $1,670 | $20,040 | 31.1% |
Labor market direction
Unemployment
3.4%
Median household income
$64,445
What's being built
Total TTM
1,959
Single-family
1,603
2–4 unit
38
5+ unit
318
All 1 counties, ranked by population
| County | Population | Home value | Median HHI | Permits TTM | YoY |
|---|---|---|---|---|---|
| Alamance County | 171,779 | $221,200 | $64,445 | 1,959 |
Similar metros nationally
| Metro | Pop | Med HHI | P/I | Cap proxy | HPI 5y | Permits/1k | Unemp |
|---|---|---|---|---|---|---|---|
| ★Burlington | 171,779 | $64,445 | 3.43× | 4.75% | +64.1% | 11.40 | 3.4% |
| Muskegon, MI | 175,947 | $63,495 | — | — | +70.0% | — | 5.1% |
| Blacksburg-Christiansburg, VA | 166,304 | $64,627 | — | — | +52.3% | — | 3.5% |
| Pueblo, CO | 168,135 | $62,250 | — | — | +38.6% | — | 5.3% |
| Abilene, TX | 176,656 | $66,464 | — | — | +53.1% | — | 3.1% |
| Bowling Green, KY | 180,624 | $62,437 | — | — | +55.7% | — | 3.4% |
Where people are moving in from
Net migration
+672
+0.39% of population
| Origin county | Tax returns |
|---|---|
| Guilford County, NC | 756 |
| Durham County, NC | 716 |
| Orange County, NC | 599 |
| Wake County, NC | 402 |
| Forsyth County, NC | 114 |
| Caswell County, NC | 99 |
Who lives in Burlington
- Median age
- 39
- Bachelor's+
- 27.7%
- Owner-occupancy
- 65.6%
- Vacancy rate
- 9.3%
- Rent burdened (30%+)
- 42.6%
- Median household income
- $64,445
This page shows federally sourced data. A full editorial analysis with charts and investment commentary is in progress.