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Burke Centre

Learn about the people, housing, costs and businesses in Burke Centre, Virginia

Median Home$639,216
Median Rent$2,553/month
Population17,322
Leading IndustriesArts, Food & Hospitality · Healthcare · Professional Services20% arts, food & hospitality
Home Value Growth⬆⬆+13.9% over 2 years
Young Adults30% of residentsabove average nationally
Homeowners82% of occupied units
NotableHigh Incomes$167k/year · top 2% nationally
NotableHighly Educated36% bachelor's · 25% graduate · top 3% nationally
Burke Centre
VA

Frequently Asked Questions

What are today's mortgage rates in Burke Centre?

As of today, the 30-year fixed mortgage rate for Burke Centre is approximately 6.817% (6.850% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Burke Centre?

The median home value in Burke Centre is $639k. The median monthly rent is $2,553. Annual property taxes average $6k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Burke Centre?

Home values in Burke Centre have increased 13.9% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Burke Centre?

Based on a typical all-in ownership cost of $2,515/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $108k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Burke Centre is $167k/year.

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What industries drive the economy in Burke Centre?

The largest employment sectors in Burke Centre are healthcare (23%) and public administration (23%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.