Burbank, California Housing Market Prices
Burbank Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 29% above the California median$838,019
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Median rent 8% above the California median$2,192
Housing Market Overview
| Metric | Burbank | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $838,019 | $650,794 | $248,835 |
| Price Trend (Annual %) | 15.6% | 8.9% | 7.5% |
| Median Gross Rent | $2,192 | $2,036 | $1,407 |
| Rent Trend (Annual %) | 5.4% | 5.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Burbank is about 29% higher than in California. Rent is about 8% higher than the California average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Burbank, up about 15.6% and 5.4% a year respectively. Home prices are changing faster.
Median rent in Burbank rose about 55.7% between 2015 and 2024, from $1,408 to $2,192. Over the same span, rent in California rose about 62.2%.
Affordability
On average, housing unit costs 8.6 yearly household incomes in Burbank.
Buying the median-priced home in Burbank costs roughly 31.9 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Burbank. The price-to-rent ratio in California is about 26.6.
| Metric | Burbank | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $838,019 | $650,794 | $248,835 |
| Median Household Income | $97,090 | $99,161 | $80,455 |
| Price-to-Income Ratio | 8.6 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Burbank rose about 87.2%, while median household income rose about 51.1% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Burbank | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 40.2% | 51.7% | 58.5% |
| Rental Rate | 52.8% | 40.8% | 31.2% |
| Vacancy Rate | 7.0% | 7.5% | 10.2% |
| Median Tenure (years) | 14.0 | 15.0 | 15.0 |
| Median Year Moved In | 2012 | 2011 | 2011 |
Burbank has a homeownership rate of 40.2%, lower than the California average of 51.7%. Its housing vacancy rate is 7.0%, compared with 7.5% in California.
Housing Stock
| Metric | Burbank | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.41 people | 2.84 people | 2.53 people |
| Median Structure Built Year | 1962 | 1975 | 1978 |
| Median Number of Rooms | 4.3 | 5.0 | 5.5 |
The typical housing unit in Burbank was built around 1962. On average, 2.4 people live in a home with about 4.3 rooms, staying for about 14.0 years on average.
Burbank, CA Housing Compared With Nearby Cities
How Burbank, CA compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Burbank, CA | 104,547 | $838,019 #3/3 | $2,192 #1/3 | 43.2% #1/3 |
| Glendale, CA | 190,568 | $1,012,176 | $2,181 | 35.2% |
| Los Angeles, CA | 3,843,367 | $1,120,764 | $1,931 | 35.9% |
Frequently Asked Questions
Common questions about the housing market in Burbank, California.
What is the median home price in Burbank, California?
The median home price in Burbank, California is $838,019, higher than the California average of $650,794.
What is the average home price in Burbank, California?
The typical home price in Burbank, California, reported as the median sale price, is $838,019. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Burbank, California?
The median gross rent in Burbank, California is $2,192 per month, higher than the California average of $2,036.
What was the median gross rent in Burbank in 2020?
In 2020, the median gross rent in Burbank, California was $1,762 per month.
What is the price-to-rent ratio in Burbank, California?
The price-to-rent ratio in Burbank, California is about 31.9, meaning it would take roughly 31.9 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Burbank.
Are home prices or rent rising faster in Burbank, California?
Both home prices and rent are rising in Burbank, up about 15.6% and 5.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Burbank, California?
40.2% of households in Burbank, California own their home, lower than the California average of 51.7%.
What is the vacancy rate in Burbank, California?
The housing vacancy rate in Burbank, California is 7.0%, lower than the California average of 7.5%.
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