Burbank, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Burbank Neighborhoods Since 2000




Burbank, IL 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 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

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

Burbank Housing Market Information

With a population of 29,128, 8,985 total housing units (homes and apartments), and a median house value of $200,755, Burbank real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Burbank, accounting for 80.63% of the city's housing units. Other types of housing that are prevalent in Burbank include large apartment complexes or high rise apartments ( 9.60%), duplexes, homes converted to apartments or other small apartment buildings ( 6.67%), and a few row houses and other attached homes ( 2.75%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Burbank. Owner-occupied housing accounts for 78.67% of Burbank's homes, and 72.10% have either three or four bedrooms, which is average sized relative to America.

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 62.34% of the city's housing hails from this era. Other housing ages represented in Burbank include homes built between 1970-1999 ( 26.17%) and housing constructed between 2000 and later ( 7.69%). There's also some housing in Burbank built before 1939 ( 3.80%).

Burbank Home Appreciation Rates

Homes have actually lost value in Burbank over the last then years, as home values have seen a decline of 29.37% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Burbank home appreciation rates at 0.43%, which equates to an annual appreciation rate of 1.74%.

NeighborhoodScout's data show that during the latest twelve months, Burbank's appreciation rate, at 5.05%, has been at or slightly above the national average. In the latest quarter, Burbank's appreciation rate has been 0.43%, which annualizes to a rate of 1.74%.

Relative to Illinois, our data show that Burbank's latest annual appreciation rate is higher than 80% of the other cities and towns in Illinois.

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:
$200,755

Burbank, IL HOME PRICES

Value Range
> $1,104,000 0.7
$828,001 - $1,104,000 0.1
$552,001 - $828,000 1.6
$442,001 - $552,000 2.1
$331,001 - $442,000 7.4
$221,001 - $331,000 26.6
$110,001 - $221,000 53.2
$55,001 - $110,000 5.9
$0 - $55,000 2.5

High for IL
High for Nation

Value Relative to Nation Value Relative to State
32.0403140747685 24.3037974683544

Number Of Homes And Apartments:
8,985

Burbank Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2017 Q1
16.77% 0.90% 4 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,473 / per month

Homeownership Rate

Homeownership
Owners 78.67
Renters 21.33
Vacant 4.00

Housing Market Details

 

Age of Homes

AGE OF Burbank HOMES
2000 or Newer 7.7
1970 - 1999 26.2
1940 - 1969 62.3
1939 or Older 3.8

Types of Homes

TYPE OF Burbank HOMES
Single-Family 80.6
Townhomes 2.7
Small Apt. Buildings 6.7
Apt. Complexes 9.6
Mobile Homes 0.4
Other 0.0

Home Size

SIZE OF Burbank HOMES
No Bedroom 0.45
1 Bedroom 4.15
2 Bedrooms 18.46
3 Bedrooms 54.92
4 Bedrooms 17.18
5 or more bedrooms 4.84