Burbank, CA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Burbank, CA Real Estate Data


Burbank Housing Market Information

With a population of 105,319, 41,414 total housing units (homes and apartments), and a median house value of $700,969, 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 44.69% of the city's housing units. Other types of housing that are prevalent in Burbank include large apartment complexes or high rise apartments ( 41.31%), duplexes, homes converted to apartments or other small apartment buildings ( 10.01%), and a few row houses and other attached homes ( 3.77%).

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 50.89% of the city's housing hails from this era. Other housing ages represented in Burbank include homes built between 1970-1999 ( 29.26%) and housing constructed before 1939 ( 13.77%). There's also some housing in Burbank built between 2000 and later ( 6.08%).

Burbank Home Appreciation Rates

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 4.93%, which ranks in the top 50% nationwide. This equates to an annual average Burbank house appreciation rate of 0.48%.

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 6.40%, which is higher than appreciation rates in 79.00% 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 1.34%, which equates to an annual appreciation rate of 5.46%.

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:
$700,969

Burbank, CA HOME PRICES

Value Range
> $1,331,000 2.7
$998,001 - $1,331,000 10.3
$665,001 - $998,000 40.7
$532,001 - $665,000 19.4
$399,001 - $532,000 14.5
$266,001 - $399,000 8.3
$133,001 - $266,000 1.7
$67,001 - $133,000 0.5
$0 - $67,000 2.0

High for CA
Very High for Nation

Value Relative to Nation Value Relative to State
2.79908649060139 23.9101717305152

Number Of Homes And Apartments:
41,414

Rent & Ownership

 

Average Market Rent:
$1,930 / per month

Homeownership Rate

Homeownership
Owners 41.39
Renters 58.61
Vacant 4.95

Housing Market Details

 

Age of Homes

AGE OF Burbank HOMES
2000 or Newer 6.1
1970 - 1999 29.3
1940 - 1969 50.9
1939 or Older 13.8

Types of Homes

TYPE OF Burbank HOMES
Single-Family 44.7
Townhomes 3.8
Small Apt. Buildings 10.0
Apt. Complexes 41.3
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF Burbank HOMES
No Bedroom 4.12
1 Bedroom 25.39
2 Bedrooms 36.65
3 Bedrooms 25.74
4 Bedrooms 6.38
5 or more bedrooms 1.73

Burbank Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
133.59% 5.12% 10 10
* 10 is highest