Burbank California Real Estate
Below is a MRR and PLR article in category Finance -> subcategory Real Estate.
Burbank Real Estate: An Overview
Burbank, California, nestled in Los Angeles County, lies just nine miles north of downtown Los Angeles. With a vibrant population of 100,316, the city is a bustling hub for media and entertainment professionals, hosting industry giants like NBC, Warner Studios, and Disney Entertainment. The convenience of Burbank International Airport further enhances its appeal.
Housing and Lifestyle in Burbank
Burbank offers a diverse range of housing options, from luxurious hillside estates to charming single and multi-family homes scattered throughout the city. Its sunny climate, thriving economy, low crime rates, and top-tier schools make it a highly desirable location, particularly for families and media professionals.
The city's real estate portfolio includes approximately 41,608 residential properties, with a median property age dating back to 1956. Housing distribution is varied?"7% are one-bedroom, 39% two-bedroom, 42% three-bedroom, 10% four-bedroom, and 2% five or more bedrooms.
Mortgage and Tax Insights
Regarding mortgages, 74% of homes are financed, with 56% having only a first mortgage and 18% holding a first and second mortgage or a Home Equity Line of Credit (HELOC). About 26% of homes are fully paid off.
Burbank's median real estate tax in 2000 was $1,640, compared to a median family income of $56,767 in 1999. This is slightly higher than the national median real estate tax of $1,300 against a median family income of $42,000.
Education and Community
The Burbank School District is renowned for its excellence, attracting families eager to benefit from its top-ranking schools. Children make up 22.3% of the population, with 22,337 residents under 18. The median age of Burbank residents is 36.4, while senior citizens (65+) constitute 12.8% of the population.
Employment and Transportation
Burbank boasts 48,430 workers, with 89.33% commuting by car. Despite its reliance on automobiles, 2.56% use public transportation, and 2.75% walk to work. Median housing expenses for homeowners account for 22.4% of their income.
Safety and Demographics
In 2003, Burbank reported 28.21 violent crimes, 6.88 robberies, and 19.54 aggravated assaults per 10,000 residents annually. Property crimes were more prevalent, with 268.55 incidents per 10,000 people.
The city's demographic breakdown includes 72.18% White, 2.06% African-American, 9.15% Asian, and 24.87% Hispanic or Latino residents. About 10.45% of the population lives below the poverty line.
Conclusion
When considering real estate in Burbank, prospective buyers should weigh these diverse factors and demographics. The city’s strategic location near Los Angeles, reputable schools, and economic opportunities make it an attractive destination for homeowners. Burbank’s zip codes include 91501, 91502, 91504, 91505, and 91506, within the 818 area code.
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