Burns Harbor, Indiana Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Burns Harbor, Indiana rental market.
Burns Harbor, Indiana
Average Apartment Rent
$1,289
Y-o-Y Change in Average
Apartment Rent
5.4%
As of July 2024
Compared to a year ago, Burns Harbor, Indiana apartments have recorded a 5.4% rent increase.
Burns Harbor, Indiana |Average apartment rent trend
Burns Harbor, Indiana| Average apartment rent
Burns Harbor, Indiana | Apartment rent ranges
At 49.62%, apartments priced $1,000 - $1,500 represent the bulk of Burns Harbor, Indiana rentals, while condos priced $700 - $1000 hold the lowest share of the market – 18.26%.
Burns Harbor, Indiana | Housing tenure**
Renters take up 29% of Burns Harbor, Indiana real estate, occupying a total of 276 units, while homeowners live in 669 properties.
Median number of rooms of renter-occupied housing units**
4.8
Renter median household income**
$93,561
Average household size of renter-occupied housing units**
2.1
Rental vacancy rate**
12.7%
Burns Harbor, Indiana | Renter-occupied housing units by no. of bedrooms**
There are 119 rentals in Burns Harbor, Indiana with 2 beds making up the highest share of the market, at 43%. Units with 4 beds, on the other hand, hold the lowest percentage (1%), amounting to 2 units. Overall, the median number of rooms in Burns Harbor, Indiana homes for rent is 4.8.
Burns Harbor, Indiana |Renter-occupied units by age of householder**
Most condos for rent in Burns Harbor, Indiana are occupied by residents in the 35 - 44 years age group (20%), followed by those in the 25 - 34 years age group (20%). At the same time, people in the 15 - 24 years age group make up the lowest share of the local rental market – 4%.
Burns Harbor, Indiana | Renter-occupied housing units by family type**
Burns Harbor, Indiana | Renter-occupied housing units by the presence of own children**
A total of 128 apartments for rent in Burns Harbor, Indiana, or 46% of all rentals are family households. Additionally, 36% of rental homes include children under the age of 18 – that’s 98 units. All in all, the median size of a renter-occupied household in Burns Harbor, Indiana is 2.1.
Burns Harbor, Indiana | Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 29% of the rental market. In contrast, residents with less than a high school degree reside in 6% of the homes for rent in Burns Harbor, Indiana.
Burns Harbor, Indiana | Renter-occupied units by year structure built**
The highest share of Burns Harbor, Indiana apartment rentals, namely 62% or 170 units, were Built 2010 - 2019, followed by those Built 1950 - 1959 (17%, 48 units), and the ones Built 2000 - 2009 (16%, 45 units).
Burns Harbor, Indiana | Renter-occupied units by year householder moved in**
Median year renter moved into unit2019
Most Burns Harbor, Indiana renters (43%) moved in 2018 to 2020, while only 2% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Burns Harbor, Indiana condos for rent is 2019.
Burns Harbor, Indiana | Renter-occupied housing units by vehicles available**
When it comes to transportation options, 50% of Burns Harbor, Indiana renters have 1 vehicle available per household, 38% of them have 2 vehicles available, and 8% have No vehicle available.
Burns Harbor, Indiana | Means of transportation to work of householders living in renter-occupied housing units**
Burns Harbor, Indiana |Geographical mobility in the past year for householders living in renter-occupied housing units**
Burns Harbor, Indiana | Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Burns Harbor, Indiana apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
