Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 105,319 people, 41,361 houses or apartments, and a median cost of homes of $747,617, real estate costs in Burbank are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive California communities.
Single-family detached homes are the single most common housing type in Burbank, accounting for 44.87% of the city's housing units. Other types of housing that are prevalent in Burbank include large apartment complexes or high rise apartments ( 41.50%), duplexes, homes converted to apartments or other small apartment buildings ( 9.75%), and a few row houses and other attached homes ( 3.76%).
People in Burbank primarily live in small (one, two or no bedroom) single-family detached homes. Burbank has a mixture of owner-occupied and renter-occupied housing.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Burbank's housing was primarily built during this period, from the '40s through the '60s. A full 50.39% of the city's housing hails from this era. Other housing ages represented in Burbank include homes built between 1970-1999 ( 28.60%) and housing constructed before 1939 ( 14.53%). There's also some housing in Burbank built between 2000 and later ( 6.48%).
Appreciation rates for homes in Burbank have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 9.51%, which ranks in the top 30% nationwide. This equates to an annual average Burbank house appreciation rate of 0.91%.
Appreciation rates are so strong in Burbank that despite a nationwide downturn in the housing market, Burbank real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Burbank appreciation rates continue to be some of the highest in America, at 7.83%, which is higher than appreciation rates in 85.87% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Burbank. Burbank appreciation rates in the latest quarter were at 1.99%, which equates to an annual appreciation rate of 8.20%.
Importantly, this makes Burbank one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to California, our data show that Burbank's latest annual appreciation rate is higher than 50% of the other cities and towns in California.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Burbank differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Burbank - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Burbank real estate investment or home purchase decisions.
|$982,001 - $1,309,000||12.2|
|$655,001 - $982,000||41.8|
|$524,001 - $655,000||16.6|
|$393,001 - $524,000||13.6|
|$262,001 - $393,000||7.9|
|$131,001 - $262,000||2.2|
|$65,001 - $131,000||0.6|
|$0 - $65,000||1.2|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Burbank HOMES|
|2000 or Newer||6.5|
|1970 - 1999||28.6|
|1940 - 1969||50.4|
|1939 or Older||14.5|
|TYPE OF Burbank HOMES|
|Small Apt. Buildings||9.7|
|SIZE OF Burbank HOMES|
|5 or more bedrooms||1.70|