Many of you might be curious about how Burbank's home prices and rents moved in October. However, if you check, you'll find that the October numbers are not fully available yet.

As of early November, most real estate websites are only showing data up to the end of September. So today, I will summarize the most recent figures we can confirm, which are based on September data.

Before going through the numbers one by one, let me conclude by saying that the Burbank market is not experiencing significant fluctuations and is moving sideways. However, the trends in home prices and rents show slightly different signs.

First, let's look at home prices. According to Zillow's Home Value Index (ZHVI), the average home value in Burbank as of September 30 is $1,167,055.

This is a 0.2% increase compared to a year ago. It's fair to say that this is essentially stable.

In the same Zillow data, the figure at the end of June was $1,192,558, with a year-over-year change of minus 1%. While the value itself has decreased since June, the year-over-year change has shifted from negative to positive.

Here's a common question: the news reports that the median transaction price in Burbank is around $1.3 million, so why does Zillow show a figure in the $1.16 million range?

The reason is that the criteria are different. The Zillow index includes the estimated values of all types of homes, including condos and single-family homes, while the figures from Redfin or the real estate association reflect the median price of homes actually sold that month.

If many expensive single-family homes are sold in a month, the median transaction price can easily rise. Therefore, mixing numbers from different sites can lead to misunderstandings.

I recommend looking at the same indicator from one source over several months to see the trend. That way, it's less confusing.

Now, let's look at the transaction speed. According to Zillow, the median time for listings to go pending at the end of September was 24 days.

This means it takes less than a month, so it's hard to say the market is frozen. Good listings are still selling quickly.

Now, let's discuss rent. According to Trulia, the average rent in Burbank for September is reported to be $2,510, indicating a decrease from the previous month.

Looking at Zillow's rent data, the average rent last October was $2,700. While caution is needed when comparing figures from different sites, it is clear that there is not a steep increase in rent.

Honestly, this was a bit surprising. Burbank has a strong demand for rentals due to studio jobs, so I didn't expect to see a decrease.

What renters are likely more curious about is how much their rent can increase upon renewal. This is not determined by market rates but is set by law.

California state law AB 1482 caps annual increases for covered housing at the lower of 5% plus the local inflation rate or 10%.

In the LA area, the inflation rate was recorded at 3.7% for April 2026, making the cap applicable from August 1 to July 31 of the following year 8.7%. The previous year's cap was 8.0%.

The 8.7% is the maximum allowable increase, but it does not mean that rents will necessarily rise by that amount. Additionally, there are some properties, like those built less than 15 years ago or certain single-family homes, that are not subject to AB 1482.

Burbank also has its own tenant protection ordinance. This is Ordinance 25-4,025, which has been in effect since April 11, 2025.

This ordinance requires landlords to provide three months' rent as relocation assistance in cases of eviction not caused by the tenant, such as withdrawal from the rental market or major renovations. Different criteria apply if the landlord or family intends to move in.

The city council has also discussed a so-called soft cap of around 4% annually. However, as far as I have checked, this is not yet a confirmed regulation, so if you are approaching a renewal, please check the tenant protections page on the city website.

You might be wondering whether it's better to buy now or continue renting. The fact that home prices have remained stable for a year suggests there's no urgent reason to jump in or to wait too long.

Ultimately, the variable is interest rates. The mortgage rates for October vary by source, so I won't list the numbers here. It's best to check the Freddie Mac weekly survey (PMMS) for the most accurate information.

If I were considering buying right now, I would monitor the time it takes for listings to go pending and the percentage of price-reduced listings for a few weeks. This is because signs of loosening numbers can provide negotiating power.

If you are renting, check whether the increase rate is within 8.7% when you receive your renewal notice, and whether your home is subject to AB 1482. Just knowing those two things can significantly reduce unnecessary worries.

Official figures for October are usually reflected on each site around mid-month. When you compare them alongside September's data, the direction will likely become clearer.

In summary, Burbank is currently a quiet market. I believe this is a good time to calmly assess the numbers and make decisions.