Toluca Lake covers about 1.22 square miles in the southeast corner of the San Fernando Valley, between Studio City, North Hollywood, Universal City, and Burbank. It is flat, leafy, and full of 1920s–1950s Spanish Revival and Tudor homes, and its main street, the stretch of Riverside Drive locals call Toluca Lake Village, is one of the more walkable in the Valley. The ZIP is 91602, though the neighborhood also crosses into the City of Burbank.
This is the short version. For the full breakdown — every restaurant, every school, and the projects we're watching — read the complete Toluca Lake Neighborhood Guide.
The market in one number
Call it $1.2M–$1.5M. Redfin put the Greater Toluca Lake median sale price near $1.2 million in September 2026, with homes averaging about 66 days on market, and single-family list prices ran around $1.41–$1.47 million in August and September, below a year earlier. Condos and townhomes pull the median down; lakefront estates sit in another league entirely. The former Bob Hope estate sold for $26 million in 2023, the highest residential sale on record in Toluca Lake.
Schools families move here for
On the Los Angeles side, Toluca Lake Elementary (LAUSD, K–5) on Cahuenga Boulevard tests above district and state averages, Walter Reed Middle runs a gifted and talented program, and North Hollywood High houses the Highly Gifted Magnet. Homes on the Burbank side are in Burbank Unified, whose high schools are Burbank High and John Burroughs. Nearby private options include Campbell Hall (Episcopal K–12) and Harvard-Westlake (grades 7–12). Get any school assignment in writing from the district.
Where locals actually eat
Paty's has been the Riverside Drive diner since 1960. Prosecco Trattoria (since 1995) and Ca' del Sole (since 1994) are the long-running Italian rooms, and Bodega Malbec grills Argentine steaks and chorizo on a big patio. Verse on Lankershim is a supper club built around live music. Just over the Burbank line, The Smoke House has served its garlic cheese bread across from Warner Bros. since 1946. New this year: Akami Sushi's omakase counter on Riverside, and a small-format Gelson's market.
What we're watching
Paramount's acquisition of Warner Bros. Discovery was set to close October 6, 2026, putting the Burbank lot next door under new ownership. Studio staffing drives much of the demand here. The LA–Burbank city line decides schools, services, and whether Los Angeles's Measure ULA transfer tax applies (4% above $5.4M, 5.5% at $10.9M or more). And Lankershim may get more dining: Mensano, from Verse's owner, has filed plans but hadn't opened as of October.
Thinking about a move in or out of Toluca Lake? The full guide has the complete picture.
This article is informational and reflects estimates at publication. Home values, school attendance boundaries, city-line jurisdiction, and restaurant hours all shift — verify current specifics with a licensed local agent before making decisions.