Burbank CA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Burbank, CA Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Burbank Housing Market Information

With 103,695 people, 41,505 houses or apartments, and a median cost of homes of $819,189, 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 44.84% of the city's housing units. Other types of housing that are prevalent in Burbank include large apartment complexes or high rise apartments ( 42.41%), duplexes, homes converted to apartments or other small apartment buildings ( 8.55%), and a few row houses and other attached homes ( 4.07%).

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 50.13% of the city's housing hails from this era. Other housing ages represented in Burbank include homes built between 1970-1999 ( 29.61%) and housing constructed before 1939 ( 12.77%). There's also some housing in Burbank built between 2000 and later ( 7.48%).

Burbank Home Appreciation Rates

In the last 10 years, Burbank has experienced some of the highest home appreciation rates of any community in the nation. Burbank real estate appreciated 64.93% over the last ten years, which is an average annual home appreciation rate of 5.13%, putting Burbank in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Burbank definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Burbank appreciation rates have trailed the rest of the nation. In the last twelve months, Burbank's appreciation rate has been 3.48%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Burbank were at 1.00%, which equates to an annual appreciation rate of 4.08%.

Relative to California, our data show that Burbank's latest annual appreciation rate is lower 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.

Average Home Values

 

Median Home Value:
$819,189

Burbank, CA HOME PRICES

Value Range
> $1,217,000 8.6
$912,001 - $1,217,000 24.7
$608,001 - $912,000 43.5
$487,001 - $608,000 12.4
$365,001 - $487,000 6.8
$243,001 - $365,000 1.5
$122,001 - $243,000 1.0
$61,001 - $122,000 0.5
$0 - $61,000 1.1

High for CA
Very High for Nation

Value Relative to Nation Value Relative to State
2.2014598540146 20.4456094364351

Number Of Homes And Apartments:
41,505

Burbank Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2019 Q4 - 2020 Q1
Last 12 Months:
2019 Q1 - 2020 Q1
Last 2 Years:
2018 Q1 - 2020 Q1
Last 5 Years:
2015 Q1 - 2020 Q1
Last 10 Years:
2010 Q1 - 2020 Q1
Since 2000:
2000 Q1 - 2020 Q1
182.50% 5.26%
10
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,445 / per month

Homeownership Rate

Homeownership
Owners 41.65
Renters 58.35
Vacant 4.79

Housing Market Details

 

Age of Homes

AGE OF Burbank HOMES
2000 or Newer 7.5
1970 - 1999 29.6
1940 - 1969 50.1
1939 or Older 12.8

Types of Homes

TYPE OF Burbank HOMES
Single-Family 44.8
Townhomes 4.1
Small Apt. Buildings 8.6
Apt. Complexes 42.4
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Burbank HOMES
No Bedroom 6.38
1 Bedroom 22.26
2 Bedrooms 37.27
3 Bedrooms 26.87
4 Bedrooms 5.78
5 or more bedrooms 1.43