The first question that comes to mind is whether a backyard for children to play in is really necessary, or if it's better to reduce maintenance burdens. In Burbank, I often receive this question during consultations, largely due to the significant differences in lifestyle between single-family homes, condos, and townhomes, especially given the proximity to studios.

Let's first clarify how these three types differ. A single-family home is owned along with the land, meaning the owner is fully responsible for maintenance. Townhomes share walls but often come with their own land, so the HOA manages the exterior and common areas, while the interior is the owner's responsibility. Condos, on the other hand, only involve ownership of the unit within the building, with the management association responsible for the entire building, which typically results in higher fees.

According to data compiled by strongrealtor.com as of March 2026, the median sale price in Burbank was around $1.16 million, while another source reported it at $1,201,000, indicating a 4 percent increase from the previous year. The median price for single-family homes in the first quarter of 2026 was $1.3 million, up 5 percent from the previous quarter and 2 percent from the same time last year.

Condos and townhomes are much more affordable. The median listing price for condos was $699,000, and for townhomes, it was $835,000, making condos over $600,000 cheaper compared to the median price of single-family homes. In the Media District, there are condos available in the $650,000 range, while single-family homes in the hillside area can exceed $2 million, showing significant price variation across neighborhoods.

Families choosing single-family homes with backyards often cite reasons such as children's education, pets, and the need for a home office. There are several elementary schools within the Burbank Unified School District that have high ratings on GreatSchools, which consistently attracts interest from Korean families. However, school district boundaries change frequently, so it's advisable to verify the assigned school for a specific address before purchasing.

On the other hand, those who prefer to live without the worry of maintenance or who commute frequently due to their studio jobs often favor condos or townhomes. In California, the average HOA fee for condos is around $400 per month, while for townhomes, it's about $200, so it's practical to factor in these monthly fees when budgeting.

Families relocating from other states may be surprised by Burbank's high sale prices, but in California, property taxes are based on the purchase price at the time of acquisition, which differs from other states. It's wise to confirm this with a tax professional.

Ultimately, in Burbank, families wanting a backyard and independent space tend to choose single-family homes, while those looking to reduce initial budgets and maintenance burdens often opt for condos and townhomes.

For example, a family preparing to settle in Burbank with a budget of $900,000 may find that this amount falls slightly short of the median price for single-family homes but comfortably exceeds the median price for townhomes. Given the area's characteristics with many studio workers, those looking to reduce commute times often turn to condos near the Media District.

When calculating total ownership costs, it's important to consider not just the price difference but also the HOA fees, property taxes, and insurance. In cities like Burbank, where there is a significant gap in sale prices, this calculation can greatly influence actual choices.

Burbank is a city where the demand for condos prioritizes commuting convenience due to its proximity to Burbank Airport and studios, while the demand for single-family homes with backyards is distinctly evident in quieter residential areas.

If you're considering rental income, it's worth noting the demand from entertainment industry workers in Burbank. However, you should calculate the net yield excluding management fees, and since you cannot assume that prices will continue to rise, it's important to assess the risks involved.

This article is not investment or legal advice, and it's recommended to consult with professionals before making any actual contracts. The figures cited are based on 2026 data published by strongrealtor.com and perchproperties.com.