Burbank, known for its vibrant community and proximity to major entertainment hubs, has experienced notable shifts in its housing market. Understanding these changes is essential for residents and potential homebuyers.
Current Housing Market Trends
Recent data indicates a slight decrease in home values. As of March 2026, the average home value in Burbank is approximately $1,200,885, reflecting a 2.4% decline over the past year. Homes typically go pending in around 26 days, suggesting a competitive market. Source
Rental Market Insights
For renters, the median rent in Burbank stands at $2,800 per month, with a year-over-year increase of 1.85%. This uptick indicates a steady demand for rental properties in the area. Source
Upcoming Developments
Several new developments are set to reshape Burbank’s housing landscape:
2311 N. Hollywood Way
This mixed-use project will feature 862 residential units, including 80 designated for very low-income households, alongside office and retail spaces. Source
2814 W. Empire Avenue
A seven-story building offering 148 affordable housing units, catering to extremely low, very low, and low-income households. Source
3201 W. Olive Avenue
Proposed as a five-story mixed-use development, this project includes 144 rental units and ground-floor retail space, contributing to the city’s growth. Source
These developments aim to address housing demands and provide diverse living options for Burbank’s residents.
Staying informed about these trends and projects is crucial for making well-informed decisions in Burbank’s dynamic housing market.