Staring at listings and wondering if a condo, townhome, or small house in Burbank is the smarter move for you? You are not alone. Prices are high, options vary block by block, and each home type changes your monthly cost in different ways. In this guide, you will learn how each choice affects your budget, maintenance, and lifestyle, plus see clear monthly cost examples and a simple decision checklist. Let’s dive in.
Burbank market at a glance
Burbank is a premium market within Greater Los Angeles. Recent reports show a median sale price around $1.45 million for all home types, with typical values widely ranging by neighborhood and property size. Condos in central and downtown areas often list around the mid to high six figures, townhomes tend to land in the high six figures to about the low seven figures, and single-family homes frequently sit in the $1 million to $2 million plus range.
Inventory is tight, and demand stays strong due to proximity to major studios and transit. Your target neighborhood and unit size will drive large swings in price, so always verify current comps when you get serious about a property.
Condo, townhome, or house: what changes for you
Condos: lower entry price and shared upkeep
- What you get: typically lower purchase prices than townhomes and houses, central locations, and shared amenities.
- Costs to watch: monthly HOA dues that may include water, trash, building insurance, and reserves. Special assessments are possible.
- Lifestyle: simpler maintenance because the HOA handles exterior and common areas. Interior upkeep is still yours.
- Where they cluster: central and Downtown Burbank offers a healthy mix of 1 to 2 bedroom options.
Townhomes: more space, moderate dues
- What you get: multilevel living, often with direct garage access and small patios. More privacy than most condos.
- Costs to watch: HOA dues typically lower than large condo towers yet still meaningful. Check what exterior items the HOA covers.
- Lifestyle: closer to single-family living without a full yard to maintain.
- Where they cluster: Downtown-adjacent and Media District complexes are common spots.
Single-family homes: control and privacy
- What you get: full control over your property, private yard, and more storage.
- Costs to watch: higher purchase prices and higher ongoing maintenance. Fewer HOAs, though some pockets have small dues.
- Lifestyle: maximum flexibility for projects, pets, and parking, balanced by full responsibility for repairs and exterior care.
What really drives your monthly payment
To compare true monthly costs across condos, townhomes, and houses, add these line items.
Mortgage principal and interest
Rates move week to week. A useful benchmark is the weekly Primary Mortgage Market Survey from Freddie Mac. Review the latest 30‑year fixed average on the Freddie Mac PMMS page. Run two or three rate scenarios with your lender so you can see how a half‑point swing changes the payment.
Property taxes in Los Angeles County
California’s base property tax is 1.00 percent. Local assessments bring most effective rates in Los Angeles County to about 1.0 to 1.25 percent of the purchase price. New owners should confirm the parcel’s exact rate and billing schedule on the LA County Treasurer & Tax Collector site.
HOA dues and coverage
HOA dues vary by building, amenities, and reserve funding. Los Angeles area averages often land in the several‑hundred‑dollars‑per‑month range. Many Burbank associations fall around the mid $200s to $600 plus per month depending on amenities. Learn what the dues cover and study the association’s health. For a plain‑English overview, see this HOA fee guide.
Homeowners or condo insurance
Insurance depends on property type and coverage limits. Los Angeles examples for homeowners policies are commonly in the low thousands per year for single‑family homes, while condo HO‑6 policies can be lower because the building’s master policy covers the structure. Use the Bankrate Los Angeles insurance overview for context, then request quotes for the specific property.
Maintenance and repairs
A simple rule of thumb is to budget about 1 percent of the home’s value per year for maintenance on a house, and roughly 0.5 to 1 percent for a condo or townhome depending on what the HOA covers. It is a guide, not a guarantee. See this summary on maintenance budgeting from LeThub.
Utilities, parking, and special assessments
Condos and townhomes may include water, trash, or earthquake insurance within HOA dues. Houses typically have separate utility bills and all exterior upkeep. Special assessments are a key risk for condo and townhome buyers, so read the reserve study and meeting minutes before you commit.
Example monthly costs in Burbank
Below are sample scenarios that show how purchase price and property type change your total monthly outlay. These are illustrations to help you compare orders of magnitude. Replace the inputs with your lender quotes and exact HOA and insurance figures.
Assumptions used here:
- 30‑year fixed at 6.11 percent APR, per the weekly Freddie Mac PMMS
- Property tax at 1.1 percent of purchase price per year, billed over 12 months, per LA County norms. Confirm exact rates on the Treasurer & Tax Collector site
- Maintenance set‑aside: condo 0.5 percent per year, townhome 1.0 percent, house 1.0 percent
- Insurance: illustrative monthly figures for comparison. Get quotes for accuracy using the Bankrate LA context
- HOA examples: condo $350, townhome $450, small house $0
Condo at $700,000
- 10 percent down (loan $630,000)
- P&I about $3,822
- Property tax about $642
- HOA $350
- Condo insurance about $75
- Maintenance about $292
- Total about $5,180 per month
- 20 percent down lowers the total to about $4,756 per month
Townhome at $900,000
- 10 percent down (loan $810,000)
- P&I about $4,914
- Property tax about $825
- HOA $450
- Insurance about $150
- Maintenance about $750
- Total about $7,089 per month
- 20 percent down lowers the total to about $6,543 per month
Small single‑family home at $1,350,000
- 10 percent down (loan $1,215,000)
- P&I about $7,371
- Property tax about $1,238
- HOA $0
- Insurance about $180
- Maintenance about $1,125
- Total about $9,913 per month
- 20 percent down lowers the total to about $9,094 per month
What these examples show: in Burbank, property type and price band can move your monthly cost by several thousand dollars. Your down payment and interest rate make the biggest difference. HOA dues and maintenance also matter, yet they are smaller in absolute dollars at these price points.
Location and commute tips
Burbank’s draw includes close access to major studios. The Warner Bros. main lot sits on Warner Blvd, with public tour info on the Warner Bros. Studio Tour site. The Walt Disney Studios corporate campus is also in Burbank, noted here for location context on Wikipedia.
- Media District and Downtown offer some of the shortest commutes to studio lots.
- The airport and Downtown areas connect to Metrolink and Amtrak, which offer an alternative to freeway driving. Start trip planning with Metrolink’s Los Angeles County page.
- Magnolia Park and surrounding neighborhoods mix residential charm with access to services. Always confirm commute times for your schedule.
How to choose: a simple checklist
Use this flow to match your budget and lifestyle.
- Budget first
- Decide your comfortable monthly number. Use your lender quote and the examples above to test 10 percent vs 20 percent down and a small rate change.
- Maintenance tolerance
- If you want minimal exterior responsibility, lean condo. If you want a yard and full control, a house fits better. Townhomes sit in the middle.
- HOA tolerance and scope
- Read what dues cover, how reserves are funded, and whether earthquake insurance is included. Learn the basics with this HOA fee explainer. Ask for the reserve study and meeting minutes.
- Financing constraints
- Some loan programs have extra project reviews for condos and certain townhomes. Get a local lender involved early to flag any building approval issues.
- Lifestyle fit
- Weigh commute routes to the studios, proximity to transit, parking needs, storage, and any pet or rental rules.
- Resale and liquidity
- Condos and houses can move differently when inventory shifts. Well‑located townhomes and houses often benefit from tighter supply. Use fresh comps to gauge expected time on market when you plan your exit.
What to review before you write an offer
For condos and townhomes, request these items before you waive contingencies:
- CC&Rs, bylaws, and rules
- Current budget and most recent financials
- Reserve study and any engineering reports
- Most recent 12 months of board meeting minutes
- Master insurance certificate, including earthquake coverage if applicable
For any property type:
- Confirm the property tax rate and due dates on the LA County Treasurer & Tax Collector site
- Get homeowners or condo insurance quotes early using the Bankrate LA overview as a starting point
- Ask your lender for two interest rate scenarios and both 10 percent and 20 percent down options
Next steps
- Set your target monthly budget and down payment.
- Get a lender pre‑approval and rate scenarios.
- Tour three examples of each property type in your price band.
- Request HOA documents early for any condo or townhome you like.
- Compare the total monthly costs line by line so you can choose with confidence.
If you want a clear, side‑by‑side plan for Burbank, we are here to help. Reach out to Michael Mucino for a friendly consult, budgeting review, and a curated tour list that fits your lifestyle and commute.
FAQs
What are typical HOA dues for Burbank condos and townhomes?
- Many associations land in the several‑hundreds per month range, often around the mid $200s to $600 plus, depending on amenities and reserves. Always review what dues cover and study the reserve study and minutes. See this overview of HOA fees.
How are Burbank property taxes calculated for new buyers?
- California levies a 1 percent base tax, then adds local assessments. Most Los Angeles County effective rates fall near 1.0 to 1.25 percent of purchase price. Verify the parcel’s exact rate on the LA County Treasurer & Tax Collector site.
How much should I budget for maintenance on a condo versus a house?
- A common guide is about 1 percent of a home’s value per year for a house and 0.5 to 1 percent for a condo or townhome, depending on HOA coverage. It is a budget starting point. Reference this maintenance budgeting summary.
Are condos harder to finance than townhomes or houses?
- Sometimes. Lenders may require project approvals, insurance reviews, and owner‑occupancy ratios for condos and certain townhomes. Speak with a lender early to confirm building eligibility and documentation.
What commute options exist near Burbank’s major studios?
- Many buyers target Media District and Downtown for short drives to the Warner and Disney lots. Metrolink and Amtrak serve the airport and Downtown areas, offering rail options for some commutes. Start with Metrolink’s Los Angeles County page.
