Rent vs buy in Burbank, CA
In Burbank, California, the typical rent is $2,752 /mo and the typical home is $1,167,055.
Over 7 years, renting comes out $195k ahead
Today's mortgage rate plus a 20% down payment, using Burbank's typical rent and home value. Break-even comes at year 22.
An opinion, clearly labelled, with the math shown. These are estimates, not quotes. Adjust one number and the stamp updates.
- Renting leads by
- $195k after 7 years
- Break-even point
- year 22 when owning catches up
- What owning really costs
- $9,615 a month year 1, against $2,752 rent
Change my numbers
The stamp works from Burbank's typical figures for rent and home value. Your own rent, price and years can flip the result.
Are your numbers different from the city's?
Put in a rent, price and down payment of your own. The stamp changes when they do.
In Burbank, is renting or buying cheaper?
Count in the money that comes back to you when you sell, and renting is cheaper by $194,657 over 7 years. For the first 21 years, renting costs you less. In year 22, owning catches up.
Rent. Owning. Net cost so far, year by year.
Average rent compared with the mortgage payment in Burbank
Rent and the mortgage payment aren't the whole story, so here are all the monthly costs in year 1, based on Burbank's typical price.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $2,752 | All of it, every month |
| Mortgage payment | $6,363 | $5,608 of it is interest in year 1 |
| Property tax | $545 | 0.56% of the value a year |
| Insurance | $106 | Census median for the city |
| Upkeep | $973 | 1% of the value a year |
| Owning, cash out | $7,986 | $754 of it builds equity |
| Lost return on the down payment | $1,897 | What the cash would earn each year at 8.3% |
| Buying costs, spread out | $486 | 3.5% of the price over 7 years |
| True cost of owning | $9,615 | Cash out, minus the equity portion, plus the two lines listed above |
Burbank's verdict, in numbers
- Home value, typicalZillow ZHVI, September 2026
- $1,167,055
- Rent, typicalZillow ZORI, September 2026
- $2,752 a month
- Down paymentA 20% down payment skips private mortgage insurance, which the engine doesn't model
- 20%
- Mortgage rate source: Freddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US)
- 7.24%
- Growth in home pricesFHFA index, California, 1995 to 2025
- 5.3% each year
- Rent growth each year, CPI rent of primary residence (2006 to 2026)
- 3.5% each year
- Return on savings: 40% 10-year Treasuries and 60% S&P 500 with dividends, rebalanced yearly (1928 to 2025)
- 8.3% each year
- Tax on the propertyCensus ACS 2020-2024, Burbank
- 0.56% of the value
- Insurance for the homeCensus ACS 2020-2024, Burbank
- $106 /mo
- Maintenance costs, per Fannie Mae (1% to 4%, the low end)
- 1% of the value each year
- Costs of buying, per Freddie Mac (the middle, 2% to 5%)
- 3.5% of the price
- Costs of sellingAgent commission plus closing costs
- 6% of the price
What would reverse the Burbank result?
In Burbank, each line shows the point where the 7-year verdict changes. Everything else stays as it is.
Renting comes out ahead when
- Home prices grow by less than 7.1% a year (we use California's long-run rate of 5.3%).
- The mortgage rate holds above 4.25%.
- A home like this costs under $4,840 a month in rent (typical here: $2,752).
- Your move comes earlier than year 22.
Buying comes out ahead when
- Home prices grow by more than 7.1% a year.
- You lock in a mortgage rate under 4.25% (today's is 7.24%).
- You'd pay more than $4,840 a month to rent the same home.
- You stay for 22 years or longer.
Burbank compared with the other 812 cities
| Measure | Burbank | Median city |
|---|---|---|
| Typical home value | $1,167,055 | $422,451 |
| Typical rent | $2,752 /mo | $1,837 /mo |
| Price-to-rent ratio | 35.3 (#29 of 813) | 18.5 |
| Home prices, last 10 years | 6.4% a year | 6.2% a year |
| Rents, last 5 years | 3.8% a year | 4% a year |
| Property tax | 0.56% | 0.87% |
| Households that rent | 57% | 42% |
Sources used: Zillow ZHVI and ZORI, Census ACS 2020-2024.
Other California cities
- Rent. Los Angeles, CA. Renting is ahead by $111k.
- Rent. San Diego, CA. Renting is ahead by $108k.
- Rent. San Jose, CA. Renting is ahead by $210k.
- Rent. San Francisco, CA. Renting is ahead by $128k.
- Buy. Fresno, CA. Buying is ahead by $22k.
- Toss-up. Sacramento, CA. Renting leads by $3k.
- Rent. Long Beach, CA. Renting leads by $111k.
- Rent. Oakland, CA. Renting is ahead by $44k.
- Buying wins by $11k in Bakersfield, CA.
- Renting wins by $115k in Anaheim, CA.
- Buying wins by $16k in Stockton, CA.
- Renting wins by $27k in Riverside, CA.