1031 Exchange Burbank, California

 

Rent, population, and median household income are important factors to consider for a 1031 exchange in Burbank due to their correlations with market demand, and conversely, vacancy rate.

Surrounding submarket Area

Burbank, California is a part of the Burbank/N Glendale submarket area, and contains 10 zip codes, including: 91504, 91505, 91521, 91506, 91503, and 91502.

Burbank Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Burbank, CA submarket area was $2,001, which is 25.30% higher than 2014 average rent. This represents a compounded annual growth rate of 4.61%. 2019 vacancy in Burbank, CA was 4.30%.

The total population of the city of Burbank, CA has grown 0.34% since 2010. As of 2018, the population was 103,695. The median household income of the Burbank was $73,277, which is 21.53% higher than the national average.

  • submarket area Burbank / N Glendale
  • avg rent $2,001
  • rent growth 25.30%
  • vacancy 4.30%
  • median income $73,277
  • population (2018) 103,695
  • population growth 0.34%
  • vs. nat'l avg 21.53%
  • zip codes 91501 91502 91503 91504 91505 91506 91507 91508 91510 91521

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