Rent-to-Own Homes in Burlington, NC: What You Need to Know
The small city of Burlington provides a high quality of life with its low cost of living, stunning surrounding nature, and tight-knit community that mingles in its historic downtown area.
Burlington’s Cost of Living
While the cost of living in Burlington falls 11% below the national average, housing costs are far lower at 29%, indicating a promising buyer’s market in the area. Here’s what it costs on average to live in this city:
Median Home Price: $247,758
Median Rent: $776 per month
Housing: 29% below the national average
Healthcare: 1% above the national average
Groceries: 3% below the national average
Utilities: 10% below the national average
Transportation: 10% below the national average
Gas: $2.35 per gallon
State Income Tax: 5.25% flat rate
State Sales Tax: 4.75%
Burlington is a small city with 54,606 residents. Its diverse population consists of White (49%), Black (28%), Latino (18%), and Asian (3%) ethnicities. The median household income is $40,000, and 12% of residents fall below the poverty line. Most locals are high school graduates (81%), and some are college-educated (24%).
There are many outstanding job opportunities in this North Carolina city. Honda operates a major manufacturing plant here, and LabCorp’s headquarters calls it home. Other notable employers in the area include Sheetz, Sandvik, Target, GE, Cone Health National Agents Alliance, and Best Buy. The unemployment rate is 4.7%
Things to Do in Burlington
Burlington offers a generous amount of parks and outdoor activities. Cedarock Park is a historic farm and nature preserve with hiking trails leading to a peaceful waterfall. If one isn’t enough, Great Bend Park has its own equally beautiful waterfall and forest to explore. Shallow Ford is yet another natural area to hike, boat, and camp.
On a rainy day, residents can enjoy a show at the historic Paramount Theater. The Downtown Historic District’s center is closed off to cars, allowing people to meander, shop, and dine outdoors with a view of the charming streets. Historical walking tours are available to those interested in an in-depth look at Burlington’s past. On the fourth Fridays of the summer months, downtown truly comes to life with activities and live music lasting through the evening.
Transportation and Infrastructure
The average commute time in Burlington is 20 minutes each way. Most people use their cars to get around, but LINK Transit buses are reliable and available to those who need them. However, the city is taking measures to improve and expand its multimodal transportation in areas lacking.