Burbank lies to the northwest of downtown Los Angeles, about 12 miles outside of the city center. It is a moderately diverse area, with a little over 100,000 residents who hold a mixture of white collar and blue-collar jobs. Many of the residents in this area live close to their jobs, with half of Burbank’s residents commuting 20 minutes or less.
The community of Burbank is nicknamed the “media capital of the world.” Located just a short distance from Hollywood, this area is the site of several major media and entertainment companies’ studios and offices. This list includes The Walt Disney Company, ABC Studios, Warner Bros. Entertainment, Nickelodeon, Cartoon Network, and NBC. Burbank has been a hotspot for the motion picture industry since First National Pictures set up shop in 1926. A couple of years later, Warner Brothers took over this studio and quickly expanded to be a prominent player in the entertainment industry. Shortly afterward, Columbia Pictures bought a ranch for use in their filming projects.
A decade later, a multi-million dollar Disney studio was built in the area, and since then, Burbank has been a competitive spot for both filming and producing. As a result, the main sector of employment in Burbank is the entertainment industry. Another primary sector of employment is the defense industry, which appeals to those seeking a more stable source of income.
Living in Burbank
This neighborhood has its own airport – the Burbank Bob Hope Airport – making it easy for its residents to travel to destinations throughout the United States. Alaska Airlines, Delta, JetBlue, Southwest, and several other smaller airlines service this airport. The airport also works with several companies that specialize in the transportation of cargo. The Burbank Bob Hope Airport is easily reached by bus, rail, and car, helping to make it accessible for all of the city’s residents.
Burbank is composed of smaller communities such as Magnolia Park and the Rancho Equestrian District. The homes in Magnolia Park were mostly built in the 1940s due to the high demand for housing for veterans at the time. Today, it is a quiet neighborhood with a main street filled with shops and vintage boutiques. The Rancho Equestrian District is zoned in such a way that residents can keep their horses on their property, appealing to people who wish to own livestock but not live too far away from community amenities.
Real Estate in Burbank
The median home price in Burbank has recently increased to almost $700,000. Many of the more upscale single-family homes sell for between $1.4 million and $1.6 million. The nicest properties on the largest lots can go for $2.5 million or more. Typical homes in this area have 3 to 5 bedrooms and 2 to 4 bathrooms, with larger properties having 5 or 6 bathrooms. Condos in this area tend to be priced to sell in the mid-$400,000s. Your average Burbank condo has 2 to 3 bedrooms and 1 or 2 bathrooms.
If you are interested in learning more about the real estate available in Burbank or the surrounding communities, contact our team.