Burbank, IL 60459 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Burbank, IL—60459

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$293,000

3.7% YoY Growth

Household Income

$84,000

39.7% YoY Growth

Days on Market

3.0% Longer YoY

Home Price Forecast

1.6%

Median Rent

$1,800

1.5% YoY Growth

1-Bed Rent

$1,200

9.9% YoY Growth

2-Bed Rent

$1,600

1.2% YoY Growth

3-Bed Rent

$2,200

1.2% YoY Growth

Home Price Trends — Burbank, IL

As of Dec '25, the median home price in Burbank, IL is $293,000, with a year-over-year change of 3.7%. This indicates that home prices in Burbank, IL are increasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$293,000	3.7%
Single Family	$297,000	3.8%
Condos	$186,000	-1.6%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Burbank, IL

As of July '25, Rentcast reports the average rent in Burbank, IL is $1,990, with a year-over-year rent change of 1.5%. Per bedroom, the median rent as of July '25 in Burbank, IL is 1-bedrooms: $1,220, 2-bedrooms: $1,620, 3-bedrooms: $2,450, 4-bedrooms: $2,800. The most common rental property sizes in Burbank, IL are 2-bedroom and 3-bedroom, accounting for 38.6% and 27.1% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,800	$1,990
Studio Rent	N/A	N/A
1 Bed Rent	$1,200	$1,220
2 Bed Rent	$1,600	$1,620
3 Bed Rent	$2,200	$2,450
4 Bed Rent	$2,400	$2,800

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% of Rental Stock

Studio

3.2%

1 Bedroom

20.5%

2 Bedrooms

38.6%

3 Bedrooms

27.1%

4 Bedrooms

7.6%

5+ Bedrooms

2.9%

Property Listings — Burbank, IL

As of Dec '25, Realtor.com reports that the median days on market for a home in Burbank, IL is 43. This is a decrease of 0.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 11.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$338,000	1.0%
Listing Count	55	3.0%
Listings as % of Homes	0.6%	3.0%
Days on Market	41	3.0%

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Demographics — Burbank, IL

As of the latest ACS Survey released in 2023, Burbank, IL has a population of 28,800, which has remained stable by -0.3% over the past 5 years. Burbank, IL is a moderately popular place for families, as children make up 25.0% of the population. The area has a poorly educated workforce, with 15.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.5% reporting working from home.

Metric	Latest Census	YoY % Change
Population	28,800	-0.3%
% Under 18	25.0%	2.9%
% Seniors	15.1%	10.2%
% WFH	5.5%	243.8%
% w/ College Degree	15.5%	7.6%

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As of the latest ACS Survey released in 2023, Burbank, IL is a predominantly hispanic area, with 49.7% of the population identifying as hispanic. The hispanic population has grown by 60.3% in the last 5 years. The second most common race or ethnicity in Burbank, IL is white, making up 44.4% of the population. Foreign-born residents account for 31.6% of the population in Burbank, IL, and this percentage has increased by 21.5% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	44.4%	-29.9%
% Black	1.7%	-45.2%
% Hispanic	49.7%	60.3%
% Asian	2.7%	68.8%
% Foreign Born	31.6%	21.5%

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Mortgage and Risk — Burbank, IL

According to HUD data as of 2023, there were 363 mortgage originations in Burbank, IL, of which 75.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 41.0% above 90% LTV (very high). This implies large mortgage risk in Burbank, IL. Investor activity is low, as 2.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	363
% Conventional Loans	75.0%
% Government Loans	25.0%
% Investor Loans	2.0%
% Second Loans	1.0%
% Cash Out Refinance	9.0%

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Rentals and Section 8 — Burbank, IL

As of 2024, the percent of homes in Burbank, IL under the Section 8 program is 1.8%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Burbank, IL, because HUD payments exceed market rent, while 3-bedroom units do not.

Section 8 Market Size

Total Units under HUD	29
Total Units Section 8	29
% Rentals under Section 8	1.8%
% Occupied Section 8	91.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$230	$1,200	$1,430
2 Bedroom	$20	$1,600	$1,620
3 Bedroom	-$120	$2,200	$2,080
4 Bedroom	$40	$2,400	$2,440

Burbank, IL—60459

Key Metrics at a Glance

Home Price Trends — Burbank, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Burbank, IL

% of Rental Stock

Property Listings — Burbank, IL

Demographics — Burbank, IL

Race and Ethnicity

Mortgage and Risk — Burbank, IL

Mortgages

Rentals and Section 8 — Burbank, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Burbank, IL

Home Price to Income Ratio

Burbank, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Oak Lawn, IL

Clearing, Chicago, IL

Bridgeview, IL

Hometown, IL

Chicago Ridge, IL

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3
Median Home Price	$293,000
Median Household Income	$84,000

Burbank, IL—60459

Key Metrics at a Glance

Home Price Trends — Burbank, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Burbank, IL

% of Rental Stock

Property Listings — Burbank, IL

Demographics — Burbank, IL

Race and Ethnicity

Mortgage and Risk — Burbank, IL

Mortgages

Rentals and Section 8 — Burbank, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Burbank, IL

Home Price to Income Ratio

Burbank, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Oak Lawn, IL

Clearing, Chicago, IL

Bridgeview, IL

Hometown, IL

Chicago Ridge, IL

Frequently Asked Questions

What is the average home price in Burbank, IL 60459?

How have home prices in Burbank, IL 60459 changed over the past year?

What is the home price projection for Burbank, IL 60459?

What are the demographics of Burbank, IL 60459?

How long does it take homes to sell in Burbank, IL 60459?

What is the average rent price in Burbank, IL 60459?