Why Burbank Homeowners Choose Reverse Mortgages
Burbank is part of Los Angeles County in the San Fernando Valley area. With a median home value of approximately $900,000 and a senior population of over 17,000+, the city has a strong market of homeowners who may benefit from accessing their home equity.
Burbank's neighborhoods, from the bungalows of Magnolia Park to the horse properties of the Rancho District near the equestrian center, have stayed in steady demand thanks to the studios and a strong local economy. Many of the city's retirees bought their homes years ago when the entertainment industry was hiring, and they've since built considerable equity in a city they'd rather not leave. A reverse mortgage lets these homeowners tap that value to cover rising costs, help family, or fund aging-in-place improvements — all while staying in the walkable neighborhoods near Magnolia Boulevard and downtown Burbank.
- Burbank's entertainment industry economy has kept home values strong and growing
- Many longtime Burbank homeowners purchased in the 1990s and have built 5–10x equity
- The city's safe, walkable neighborhoods make it ideal for seniors who want to age in place
