Burbank, California Housing Market

What stands out in Burbank?

• Homes for sale are down 71% on last year: among the sharpest inventory declines of 763 tracked cities. Supply is shrinking, which shifts leverage to sellers.
• Homes for sale are 69% below 2017–2019: among the tightest inventory against 2017–2019 of 763 tracked cities. Choice is still scarcer than before the pandemic.
• Asking price per square foot is down 10.2% on the year: among the fastest-falling asking prices per square foot of 763 tracked cities. Falling asking prices give you room to offer below list.

How far have Burbank prices fallen?

Asking price per square foot in Burbank is 16.8% below its Mar 2025 high and down 10.2% over the last year. Prices were above the year before in 73% of months since the data starts, so this market has climbed back from drops before. 17% of sellers have cut their price. Underwrite with no price growth for now and let the seller carry the next cut.

How much can you negotiate in Burbank?

For every 100 homes still for sale, 47 are under contract. In 2017–2019 at this time of year it was 69. The rest are still waiting for a buyer. Few sellers are dropping their price. Your discount will come from one stale listing.

Burbank listings spend a median 61 days on the market. That is 29% longer than a year ago. There are 34 homes for sale in Burbank. That is 1.1 times the tightest month on record, but below the peak of 148. Supply is shrinking against last year.

What to do about it

• Judge each listing on its own.
• Homes listed 90+ days ago with a price cut are where your discount is.
• Fresh, well-priced homes will not move on price. Do not waste offers on them.

Is now a good time to buy in Burbank?

The median asking price is 6.5% below its Feb 2024 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 112 months. Drops here have been short and shallow. Buying in a slow month has rarely hurt a long hold.

This market is turning. Which way is not settled yet. Check the monthly numbers above before you commit.

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 12.6 times the median income. Most locals cannot buy. That keeps rental demand deep. It also caps the rent they can pay. At 30% of income, a tenant on the median income can pay about $2,438 a month.

To see what one Burbank address would rent for and cash flow, run it through the app.

What is the fair market rent in Burbank?

HUD sets one fair market rent for Los Angeles County. For fiscal year 2026:

• 1 bedroom: $2,085 a month. Up 0% on last year, up 81% since FY2016.
• 2 bedrooms: $2,601 a month. Down 1% on last year, up 75% since FY2016.
• 3 bedrooms: $3,298 a month. Down 1% on last year, up 64% since FY2016.
• 4 bedrooms: $3,672 a month. Down 1% on last year, up 65% since FY2016.

The figures include tenant-paid utilities and apply to all of Los Angeles County, so one home's rent can sit well above or below them. See fair market rent by city.

What numbers should you underwrite a Burbank deal with?

• Price growth to assume — +0.2%/yr. Burbank grew 3.8% a year over the decade. Ignore that rate. Most of it landed in the 2020 and 2021 boom. Without the boom, Burbank prices are flat. Assume no growth. Prices fell 10.2% over the last year. Use it for timing. The five-year rate is the better guide.
• Odds you cut your price to sell — 1 in 6. 17% of Burbank listings have cut their asking price. Underwrite your exit below asking.
• Competition when you exit — -71%. Homes for sale in Burbank are down 71% on last year, so your resale faces less competition than today's comps did.

Read how price cuts signal a market turning and how we read these numbers, then run the numbers on a deal.

What is the median home price in Burbank?

The median asking price in Burbank is about $1,234,000 as of Oct 2026, up 1.8% from a year ago. Asking price per square foot is down 10.2%, so read the median with care: it moves with which homes happen to be listed. This is the asking price on homes listed for sale. Sites that report sold prices or estimated home values will show a different number. Our Burbank figures cover the 12 ZIP codes with a Burbank mailing address, which can reach past city limits.

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

Neither side has the upper hand in Burbank right now. We compare Burbank with 2017–2019 at this time of year: there are 69% fewer homes for sale; listings spend 65% more days on the market; there are 47 pending sales per 100 listings, against 69 then.

Are Burbank home prices going up or down?

The median asking price is 6.5% below its Feb 2024 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 is the best month to buy a house in Burbank?

Across 9 full years, Burbank asking prices ran lowest in January, about 4.7% below the year's average. They peaked in July. The most homes for sale show up in October, about 24% above the yearly average.

What price growth should I assume for Burbank?

Assume +0.2% a year. Burbank grew 3.8% a year over the decade. Ignore that rate. Most of it landed in the 2020 and 2021 boom. Without the boom, Burbank prices are flat. Assume no growth. Prices fell 10.2% over the last year. Use it for timing. The five-year rate is the better guide.

What is the fair market rent in Burbank?

HUD's fiscal year 2026 fair market rent for Los Angeles County is $2,601 a month for 2 bedrooms and $3,298 for 3 bedrooms. The figures include tenant-paid utilities and cover the whole county.