Burlington County

Burlington County sits at a gross rent-to-price ratio of 6.29%, which places it firmly in appreciation territory rather than cash-flow territory. At a 4.09% cap rate and a median home price of $417,347 against median rent of $2,186, the market simply does not pencil for a buy-and-hold investor using leverage at current rates. The modeled scenario, using 20% down and a 6.85% rate, produces a monthly mortgage of $2,188 against estimated total monthly expenses of $765, yielding negative $766 in monthly cash flow and a cash-on-cash return of negative 9.58%. The appreciation score of 78 out of 100 and 2.78% year-over-year home price growth tell you where the market's strength is concentrated. This is not a market you buy for day-one income; you buy it expecting the asset to compound.

The investor profile this market suits is narrowly defined. An appreciation buyer with a long hold horizon, strong outside income to carry the negative cash flow, and a view that Philadelphia-suburban demand holds up will find the 78 appreciation score and the top-5 ranking within New Jersey's 21 counties (5th overall, 72nd national percentile across 1,000 counties) meaningful. A pure cash-flow buyer should walk away, full stop: the numbers produce nearly $767 out of pocket every month before any capital expenditure or vacancy. A value-add operator might find selective opportunity if they can acquire meaningfully below the $417,347 median and push rents above the $2,186 median, but even then the math is tight. The affordability index of 69 and median household income of $102,615 do provide a real ceiling for rent growth; the tenant base can support above-average rents, but there is not unlimited runway.

The $939 monthly tax-and-insurance carry deserves its own line on your underwrite and is not a rounding error. New Jersey's state-average effective property tax rate of 2.49% (Tax Foundation 2024 estimate; actual county and township rates will differ) produces an estimated $10,392 in annual property tax on the median-priced asset, plus $876 in annual insurance, for a combined $11,268 per year. That $939 per month is nearly half the total estimated expense load of $765 cited in the model, and it is the single largest driver of why a market with $2,186 in median rent still generates negative cash flow. Investors underwriting Burlington need to verify the specific township rate before closing, because New Jersey's intra-state variation is significant and the state average is very high by any national comparison.

On the risk side, stability scores only 50 out of 100, which is the softest number in Burlington's profile and worth investigating before committing capital. Without additional data on employer concentration or lease regulatory exposure, the honest read is that the market's economic base, while supported by a $102,615 median income, has characteristics that generate uncertainty around rent and occupancy durability. Burlington's proximity to Philadelphia and presence of major logistics and defense-related employment corridors along Route 130 and the New Jersey Turnpike provide some structural demand for housing, but no employer-level data was provided and no specific anchors should be assumed.

Compared to its neighbors, Burlington is the appreciation play in a region where none of the surrounding counties produce strong cash-flow metrics. Camden County at a 7.16% gross yield and a $343,117 median price offers the best combination of lower entry cost and higher relative yield in the immediate comparison set, along with an overall score of 68 versus Burlington's 65. Atlantic County at 6.86% yield and $369,150 median is a step closer to cash-flow neutral. Cumberland County at 7.68% yield and a $268,279 median is the most accessible entry point in the group and scores 66 overall, making it the only county in this comparison where the math approaches workability at current rates. Warren County at 5.88% yield and $410,388 median is even less cash-flow friendly than Burlington and scores only 61. Sussex County at 6.49% yield and a slightly higher median of $433,403 scores 66 but brings more rural exposure. Choose Burlington over its neighbors when you are specifically underwriting appreciation in a high-income suburban corridor, your hold is seven-plus years, and you have the liquidity to carry negative cash flow without stress. Choose Camden or Cumberland when the carry matters more than the zip code.