Burbank Home Prices: $1,115K, Down 1.4% — 5 ZIPs Analyzed (2026)

$1,115,189. That’s the typical home value in Burbank, CA as of February 2026. Prices are down 1.4% from a year ago, and the city has lost residents every year since 2020.

Quick answer: The average home price in Burbank, CA is $1,115,189 as of February 2026, down 1.4% year over year according to Zillow.

Current Home Prices in Burbank

The median home in Burbank now sits at $1,115,189. A year ago, it was closer to $1,131,000. That’s a small decline in percentage terms but a meaningful shift in a market where prices climbed for most of the prior decade.

The spread across the city is wide. The cheapest ZIP comes in at $811,367. The most expensive sits at $1,227,475. That’s a gap of more than $416,000 between Burbank’s most and least expensive corners.

What does this mean for buyers? You need close to $1.1 million to compete in most of Burbank. Only one ZIP — 91502 — gives you any chance of getting in under seven figures. Sellers are still seeing high nominal prices, but the year-over-year direction has flipped negative for the first time in recent memory.

The decline is small. It is not a crash. But it does break the pattern of constant appreciation that defined this market through 2022 and early 2024. Prices peaked around March 2025 at roughly $1,131,000 and have drifted lower since.

Burbank Home Prices by Neighborhood

Five ZIPs cover Burbank, and four of them cluster between $1.1M and $1.23M. The fifth — 91502 — is the outlier on the low end.

Most Expensive

• 91501 at $1,227,475 sits 10% above the city median, with rent at $2,811.
• 91504 at $1,212,384 has the highest rents in the city at $3,309 per month.
• 91506 at $1,206,630 commands premium home prices but the lowest rent of the top three at $2,494.

Most Affordable

• 91502 at $811,367 is the only ZIP under $1M and the cheapest place to rent at $2,400.
• 91505 at $1,118,090 lands close to the city median, with rent at $3,053.
• 91506 at $1,206,630 ranks third from the bottom only because the four top ZIPs are tightly grouped.

The split is clear. If you want into Burbank for under $1 million, 91502 is your only realistic option.

Rent vs Buy in Burbank

Average rent across the five Burbank ZIPs is about $2,813 per month. That works out to roughly $33,756 per year for a typical rental.

Compare that to the cost of owning. The median home is $1,115,189. A 20% down payment alone is $223,038. Even before adding mortgage interest, property taxes, insurance, and maintenance, the upfront cost of buying dwarfs years of rent.

The price-to-rent ratio in Burbank is roughly 33. That number is high. As a rule of thumb, ratios above 20 favor renting on a pure monthly cost basis. Buying still makes sense if you plan to stay long enough for appreciation and equity to outweigh the upfront premium — but the math does not favor short-term ownership at these levels.

For 91502, the cheapest ZIP, the ratio is about 28. Still high, but the lowest in the city.

Population Growth and Migration

Burbank is losing people. The city had 107,012 residents in 2020 and 103,533 in 2024 — a drop of 3.3% over four years.

The decline was steepest from 2020 to 2022. Since then, the population has roughly stabilized near 103,500. The 2024 figure shows a tiny uptick over 2023, but the city is still well below where it started the decade.

How does that compare to other California cities?

Burbank is the only city in this group that has shrunk. Bakersfield, Sacramento, San Diego, and Fresno all added residents over the same period.

For the housing market, shrinking populations usually mean softer demand. That’s consistent with what the price data shows — Burbank values have rolled over while other parts of California continue to climb.

Burbank Housing Market Trends

The 12-month trend tells the story of a market that peaked and is slowly easing.

Values fell from March to August 2025, bottoming at $1,103,896. From August to January, they recovered some ground, climbing back to $1,117,916. February ticked down again to $1,115,189.

The pattern is a market that is bouncing in a narrow range, not crashing and not booming. Total movement over 12 months is about $16,000 — barely 1.4%. That’s small enough to be noise in some markets, but the consistent direction makes it real.

Is Burbank a Good Place to Buy in 2026?

The data points to a buyer’s market — slightly. Prices are lower than a year ago, the population is shrinking, and the recent uptick from August to January has already started to reverse.

If you are buying to live in Burbank long term, the small price decline is a modest positive. You are not buying at the peak. You are buying about $16,000 below where the market was 12 months ago.

If you are buying as an investment, the math is harder. Price-to-rent ratios above 30 mean rental yields are thin. Population is declining. Year-over-year price growth has gone negative. None of those factors typically support strong investor returns.

The cheapest ZIP, 91502, is the most defensible entry point. It sits more than $300,000 below the city median and has the lowest rent — but also the lowest absolute rent dollars, which limits cash flow.

Burbank Housing Market Outlook for 2026-2027

The 3-month trend (December through February) shows prices roughly flat with a slight downward bias — $1,117,421 to $1,117,916 to $1,115,189. The bigger story is that the rebound from the August low has stalled.

If the current pace continues, expect Burbank values to stay in the $1.10M to $1.12M band through the next several months. The 12-month change has been negative for most of the year, and nothing in the recent data suggests a sharp turnaround.

Population is still in slow decline, which puts a ceiling on how fast demand can recover. Until net migration into Burbank turns positive, the underlying support for higher prices stays weak.

The longer-term picture depends on broader Los Angeles metro dynamics, mortgage rates, and any rebound in regional population. None of those are visible in the city-level data above.

Similar Markets in CA

• Los Angeles — the metro hub Burbank sits inside, useful for comparing wider trends.
• Long Beach — another LA-area city worth checking if you want coastline access.
• Anaheim — Orange County alternative for buyers priced out of Burbank.
• Riverside — typically more affordable than Burbank, longer commute to LA.
• Bakersfield — much cheaper than Burbank and one of the few growing California cities in this dataset.

Frequently Asked Questions

What is the average home price in Burbank?

The average home value in Burbank, CA is $1,115,189 as of February 2026. That figure covers five ZIP codes and represents the typical home in the 35th to 65th percentile of values. Individual ZIPs range from $811,367 to $1,227,475.

Are home prices going up or down in Burbank?

Burbank home values are down 1.4% year over year. The median peaked near $1,131,000 in March 2025 and has slid to $1,115,189 in February 2026. The recent 3-month trend is roughly flat with a slight downward bias.

Is it cheaper to rent or buy in Burbank?

Renting is cheaper month to month. Average rents across Burbank’s five ZIPs are about $2,813, while the median home value of $1,115,189 produces a price-to-rent ratio near 33 — high enough to favor renting on monthly cost. Buying still makes sense for long-term residents but offers thin margins for investors.

What is the most affordable neighborhood in Burbank?

ZIP 91502 is the most affordable Burbank neighborhood at $811,367. It is the only ZIP in the city under $1 million and also has the lowest rent at $2,400 per month. Every other Burbank ZIP sits above $1.1M.

Methodology

Home values are based on the Zillow Home Value Index (ZHVI), a smoothed measure of typical home values in the 35th to 65th percentile range. Rent estimates use the Zillow Observed Rent Index (ZORI). Population figures come from the U.S. Census Bureau Population Estimates Program (2020-2024 vintage). All datasets are publicly available. Housing data updated 2026-02-28.