Just north of downtown Los Angeles in Southern California is the city of Burbank, also dubbed the Media Capital of the World because of its proximity to Hollywood and major entertainment companies including Warner Bros, NBC Universal, The Walt Disney Company and Nickelodeon. Despite only taking up 17.379 square miles, the 2010 U.S. Census of Population and Housing listed a population of 103,340 residents. Its Hollywood history attracts many tourists but it also remains a popular place for making a home and buying real estate in Los Angeles County.
According to collected data, there were 44,309 housing units with 44 percent of properties occupied by homeowners while 56 percent of homes were occupied by renters. The median value of homes in Burbank reached $608,800 in 2010, while the majority of homes were valued between $500,000 and $999,999.
The U.S. Census states the median age of residents of Burbank was about 39 years old, and the population was spread out fairly evenly with 19.8 percent of residents under the age of 18, 31.5 percent between 24 and 44 while 13.3 percent of residents were over the age of 65. The population of the city grew 3 percent from 2000 to 2010, paralleling the state of California's increased population.
Homes for sale in Los Angeles could continue to see multiple offers, as mortgage rates have remained near all-time lows despite rising in two consecutive weeks.