The housing market in Burbank, IL is currently thriving. The median value of homes in the area is $259,700, which is significantly lower than the US House Median Value of $338,100. Although this difference may appear large, the appreciation rate of houses in Burbank has been higher than the national average at 9.35%. This indicates that home values in Burbank are rising and investments in real estate are likely to be profitable. With its close proximity to Chicago and other major cities, as well as its relatively low median house value, Burbank is an attractive option for those looking to purchase a home.
The median home cost in Burbank is $259,700. Home appreciation the last 10 years has been 66.0%. Home Appreciation in Burbank is up 13.7%.
Average Age of Homes
- The median age of Burbank real estate is 54 years old
The Rental Market in Burbank
- Renters make up 18.9% of the Burbank population
- 0.3% of houses and apartments in Burbank, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.