I live in Lake Balboa. I sell in both Lake Balboa and Encino. And this comparison gets Googled constantly, usually by one of three people: a buyer who started looking in Encino and got sticker-shocked, a Lake Balboa homeowner who wonders whether moving to Encino is worth the jump, or a seller trying to figure out where to land next.
This post is for all three. I'll give you the honest read on what each neighborhood actually delivers, what you trade off moving from one to the other, and which type of buyer is making the right call in each direction.
The Price Reality
Here is the hard data. Lake Balboa single-family homes in 2026 are mostly trading in the $850,000 to $1.2 million range. The Spring 2026 Lake Balboa market report breaks down the current picture in detail. Encino is a completely different pricing tier. Encino single-family homes in the flats north of Ventura Boulevard typically run $1.4 million to $2.2 million. Encino homes south of Ventura, in the hills, regularly push past $3 million and can hit $5 million or more for estate properties.
That is not a 10 or 20 percent difference. It is a $300,000 to $800,000 delta between comparable-size homes in the two neighborhoods.
What does $1 million buy in each?
In Lake Balboa, $1 million gets you a renovated 3- or 4-bedroom home on a 7,000 to 8,500 square foot lot, often with a pool or the space to add one, and real ADU upside if the lot is right.
In Encino, $1 million gets you a fixer condo, a smaller townhome, or a small dated single-family home on a tight lot north of Burbank Boulevard. You will not find renovated 4-bedroom homes at this price point in Encino proper.
What Each Neighborhood Actually Feels Like
Encino is two different neighborhoods wearing one name. South of Ventura Boulevard, you have the Encino hills, which is the luxury side: big lots, estate homes, quiet canyon roads, and a lot of old Los Angeles money. North of Ventura, Encino flattens into a mostly residential grid of mid-century and updated homes, less showy, more family-oriented, and still firmly upper middle class.
Lake Balboa is flat, suburban, and park-centric. The premium pocket runs south of Vanowen Street near Anthony C. Beilenson Park, where you get walkability to the lake and the best lot sizes. The value pocket runs between Vanowen and Sherman Way. North of Saticoy Street becomes a different market altogether with different comp patterns.
The two neighborhoods border each other. If you are standing at the south edge of Lake Balboa looking across Victory Boulevard, you are looking at Encino. But the price jump across that line is significant.
Housing Stock
Encino's housing stock is largely mid-century, much of it renovated or teardown-ready for new builds. You will find Spanish revival, ranch, traditional, and contemporary architecture. The hills have more custom homes, including gated compounds and estate properties. Encino also has more condo and townhome inventory along Ventura Boulevard than Lake Balboa does.
Lake Balboa is almost entirely single-family homes, with some duplexes and small multifamily properties mixed in. Most of the housing is postwar ranch and mid-century, sitting on lots that are generally larger than what you find in comparable Encino flat-area blocks. That larger lot is exactly why Lake Balboa shows up so often in ADU and SB-9 development analysis. You have more room to add square footage, build a backyard unit, or split a lot than you typically do in Encino.
If you want a finished, high-end, move-in-ready product, Encino delivers more of those at the top of the market. If you want a home you can grow with, improve, or add value to over time, Lake Balboa has more of that inventory.
Schools
This is where Encino has a real edge, and I am not going to spin it.
Encino has access to some of the highest-rated LAUSD elementary schools in the Valley, including Lanai Road Elementary, Hesby Oaks Leadership Charter, and Encino Charter Elementary. These are the schools that drive a lot of the Encino premium in the flats, especially for families with young kids.
Lake Balboa feeds into Valerio Street Elementary and Noble Avenue Elementary. These are solid LAUSD schools, but they do not rate at the level of the top Encino options. Both areas ultimately feed into similar middle school and high school pathways, and LAUSD offers magnet and charter options that families in both neighborhoods use heavily.
If top-rated elementary school access is non-negotiable, Encino is worth the premium. If you are open to magnet and charter pathways, or your kids are older, the school difference matters less than the price difference.
Lifestyle
Encino lives on Ventura Boulevard. The corridor has upscale restaurants, boutique fitness, salons, specialty grocery, and a dense walk-to lifestyle for homes close in. It has a mature, established feel and the kind of consistent commercial quality you expect in a higher-income neighborhood.
Lake Balboa lives around the park. Anthony C. Beilenson Park with its 80-acre lake and walking paths is the anchor, and the Sepulveda Basin Recreation Area surrounds it with cricket fields, the Japanese Garden, and one of the largest off-leash dog parks in Los Angeles. Commercial activity here runs along Balboa Boulevard and Victory Boulevard, smaller in scale than Ventura but with a growing mix of family-owned restaurants, coffee shops, and community-scale retail. For a fuller picture of the day-to-day, the Living in Lake Balboa neighborhood guide goes deep on lifestyle.
Both are pleasant places to live. They are aimed at different buyer profiles.
Commute and Connectivity
Freeway access is roughly similar. Both neighborhoods sit near the 101 and 405, and Encino has the edge on direct Ventura Boulevard entry to the 101. Lake Balboa has something Encino does not: the Orange Line G Line busway runs right through the neighborhood, giving residents a car-free connection to North Hollywood and the Metro Red Line. That matters for commuters, and it matters for long-term real estate values along the transit corridor.
Drive times to downtown are similar from both, typically 25 to 40 minutes depending on traffic.
Honest Downsides of Lake Balboa Compared to Encino
If I am working with an Encino buyer who is considering Lake Balboa instead, I owe them the full picture. Here is what you give up.
Schools, as covered above. The top LAUSD elementaries in Encino are genuinely a different tier.
Commercial density and brand. Ventura Boulevard is a known, established commercial corridor with national tenants and higher-end local businesses. Balboa Boulevard and Victory Boulevard in Lake Balboa are still developing and operate at a smaller scale.
Luxury comps. If you care about the cachet of saying you live in Encino, or if you are buying for status and resale prestige, Encino wins. Lake Balboa has real appreciation and demand, but it does not carry the same luxury brand recognition.
Airport proximity. Van Nuys Airport is close, and depending on your exact street in Lake Balboa, you can hear small aircraft and occasional private jet traffic. Some buyers notice it, some do not. It is worth driving the exact block you are considering at different times of day before you commit.
Who This Is For
Buy in Encino if prestige and pedigree matter to you, if you have a $1.5 million or higher budget, if you need access to top-rated LAUSD elementary schools without relying on magnet or charter pathways, and if you want to live on or near a mature commercial corridor with a luxury feel.
Buy in Lake Balboa if you want to keep your budget between $850,000 and $1.2 million, if park lifestyle and outdoor access matter to you, if you want a larger lot with real ADU or SB-9 upside, if you are willing to use LAUSD's magnet and charter options for schools, and if you see long-term value in a neighborhood that is still appreciating rather than one already priced at the top.
There is no wrong answer here. There is the right answer for your situation.
Bottom Line
Encino and Lake Balboa are not the same product at different price points. They are two different neighborhoods aimed at two different buyer profiles, and the right call depends on what you actually need.
If you are shopping both, you should be working with someone who sells in both and will give you a straight comparison instead of pushing whichever one happens to be easier to close. If you want an honest read on who to hire, I wrote a separate piece on that too.
I know these neighborhoods. I live in Lake Balboa, I work Encino regularly, and I have clients on both sides of Victory Boulevard. If you want a no-spin comparison applied to your actual budget, timeline, and priorities, let's talk.
Call or text (818) 697-4884 or email [email protected].
Justin Bonney is a California real estate agent (DRE #01338897) and the owner of Clear Way Real Estate in Sherman Oaks. He lives in Lake Balboa and specializes in Lake Balboa, Van Nuys, Sherman Oaks, and the surrounding San Fernando Valley.
