It was probably to your advantage that you didn't buy during the run up in the housing market.
But, to address your reply, I understand your frustration. The fact of the matter is that there are a number of people who have lost their homes in short sales and foreclosures and are reluctant to go back to apartment living. It has made the rental market much more competitive. I have a number of renters that are looking for nice places. But they are not willing to pay what market prices are for those places. They too want something more affordable and closer to the apartment rental price.
Will it come down or at least close the gap some? Yes, but it will be a long while. Mortgage interest rates are slowly climbing. And as they climb it puts some people out of the market for purchasing a home. That means they will stay in the rental market.
Another reason Burbank is more competitive is the school system. I have seen a number of people go from La Crescenta area to the Burbank area because the schools are similar in quality but La Crescenta is slightly higher for housing. So, once again, it keeps the inventory in Burbank low and at a premium.
If you want, I can set up a filter on the MLS system to send you new rentals as soon as they come online. It might give you a day's notice more than others who are looking for that one nice affordable home. That is the best I can do at this time.