Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 410,647 people, 124,744 houses or apartments, and a median cost of homes of $422,752, Bakersfield real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Bakersfield, accounting for 71.30% of the city's housing units. Other types of housing that are prevalent in Bakersfield include large apartment complexes or high rise apartments ( 13.56%), duplexes, homes converted to apartments or other small apartment buildings ( 8.68%), and a few row houses and other attached homes ( 3.37%).
The most prevalent building size and type in Bakersfield are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.48% owning and 40.52% renting.
There is a lot of housing in Bakersfield built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Bakersfield built between 2000 and later ( 33.02%). A lesser amount of the housing stock also hails from between 1940-1969 ( 17.80%). There's also some housing in Bakersfield built before 1939 ( 3.45%).
In the last 10 years, Bakersfield has experienced some of the highest home appreciation rates of any community in the nation. Bakersfield real estate appreciated 130.41% over the last ten years, which is an average annual home appreciation rate of 8.71%, putting Bakersfield in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Bakersfield definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Bakersfield that despite a nationwide downturn in the housing market, Bakersfield real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Bakersfield appreciation rates continue to be some of the highest in America, at 15.08%, which is higher than appreciation rates in 87.30% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Bakersfield. Bakersfield appreciation rates in the latest quarter were at 8.87%, which equates to an annual appreciation rate of 40.46%.
Importantly, NeighborhoodScout’s exclusive research found that Bakersfield's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.
Relative to California, our data show that Bakersfield's latest annual appreciation rate is higher than 80% of the other cities and towns in California.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Bakersfield differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Bakersfield - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Bakersfield real estate investment or home purchase decisions.
$422,752
for California
for nation
124,744
$2,210 / per month