Burbank, California Housing Market

How much can you negotiate in Burbank?

Only 45 out of every 100 homes for sale have found a buyer. The other 55 are still waiting. Your offer may be the only one on the table. Few sellers are dropping their price. Asking prices are holding firm. Your discount will come from one stale listing, not from the whole market.

A typical Burbank home takes 46 days to find a buyer. Half of them take even longer. That is 16% slower than a year ago. Those sellers are paying to own a house they want to sell. Search for homes listed 60+ days ago. There are 117 homes for sale in Burbank. That is 3.8 times the tightest month on record, but below the peak of 144. Supply is shrinking against last year.

What to do about it

• Search Burbank homes listed 60+ days ago that have already cut their price.
• Offer below the reduced price.
• Keep your inspection and financing contingencies.
• Ask the seller to pay closing costs.
• You can lose a few offers here and still win.

Is now a good time to buy in Burbank?

Asking prices are 18.1% below their Sep 2023 peak. You are not buying at the top. Prices are still falling. Waiting has paid off so far. Let listings age, then come back lower. Burbank prices have risen in 82 of the last 108 months. Drops here have been short and shallow. Buying in a slow month has rarely hurt a long hold.

There is no rush. Prices are still coming down. Watch the homes you like. Come back after they cut. Let the seller move first.

Who will rent from you in Burbank?

Most Burbank households rent. 56 out of every 100 households are renters. The renter share is shrinking. Five years ago it was 58 in 100. Renter households average 2.2 people. Two and three bedrooms fit the typical renter.

Households grew 3% in five years. The housing stock grew 5%. Supply is outrunning demand. 7.2% of homes sit empty. That is normal for a healthy market.

The median Burbank household earns $97,537 a year. Incomes here have grown 4.8% a year since 2019. Incomes are rising faster than home prices. Affordability is improving. A typical home costs 11.0 times the median income. Most locals cannot buy. That keeps rental demand deep. It also caps the rent they can pay. A tenant on the median income can pay about $2,438 a month. That is the standard 30% affordability line. Rents above it thin your tenant pool fast.

That is the market, not your address. Run an address through the app to see its rent estimate and cash flow.

What numbers should you underwrite a Burbank deal with?

• Price growth to assume — +1.0%/yr. Burbank grew 4.2% a year over the decade. Ignore that rate. Most of it landed in the 2020 and 2021 boom. Without the boom, Burbank grows about 1.0% a year. That is the number to type in. Prices fell 8.1% over the last year. That is a timing signal, not a trend.
• Months of carrying cost — 2. A typical home takes 46 days to sell. Budget that long when you exit or refinance. It is 16% slower than a year ago.
• Odds you cut your price to sell — 1 in 8. About 12% of homes on the Burbank market right now have already cut their asking price. Assume you are one of them when you sell. Do not underwrite an exit at your asking price.
• Comp on this, not median price — $696/sqft. The average listing runs +26% above the median. Luxury homes skew it. Comp your own size class per sqft.
• Competition when you exit — -6%. That is how much the number of homes for sale shrank in a year. Your resale will face a smaller crowd than today's comps did.
• Price-to-income ratio — 11.0×. A typical home costs 11.0 times the median income. Most locals cannot buy. That keeps rental demand deep. It also caps the rent they can pay. Incomes are rising faster than home prices. Affordability is improving.
• Tenant rent ceiling — $2,438/mo. 30% of the median household income of $97,537. Rents above this line shrink your tenant pool fast.

Is Burbank a buyer's or seller's market in 2026?

Yes, if you negotiate. Buyers have the upper hand in Burbank right now. 45 out of every 100 homes for sale have a buyer, 12% of sellers have cut their price, and a typical home takes 46 days to sell.

Are Burbank home prices going up or down?

Asking prices are 18.1% below their Sep 2023 peak. You are not buying at the top. Prices are still falling. Waiting has paid off so far. Let listings age, then come back lower.

What price growth should I assume for Burbank?

Assume +1.0% a year. Burbank grew 4.2% a year over the decade. Ignore that rate. Most of it landed in the 2020 and 2021 boom. Without the boom, Burbank grows about 1.0% a year. That is the number to type in. Prices fell 8.1% over the last year. That is a timing signal, not a trend.

How fast are homes selling in Burbank?

A typical Burbank home takes 46 days to find a buyer. Half of them take even longer. That is 16% slower than a year ago. Those sellers are paying to own a house they want to sell. Search for homes listed 60+ days ago.

Is Burbank a renters' market or an owners' market?

Most Burbank households rent. 56 out of every 100 households are renters. The renter share is shrinking. Five years ago it was 58 in 100. 7.2% of homes sit empty. That is normal for a healthy market.

What rent can Burbank tenants afford?

A tenant on the median income can pay about $2,438 a month. That is the standard 30% affordability line. Rents above it thin your tenant pool fast. The median Burbank household earns $97,537 a year.