Bakersfield, CA—93304
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Bakersfield, CA
As of Oct '25, the median home price in Bakersfield, CA is $290,000, with a year-over-year change of 0.7%. This indicates that home prices in Bakersfield, CA are flat. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $290,000 | 0.7% |
| Single Family | $291,000 | 0.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $183,000 | 1.7% |
2 Bed | $235,000 | -2.1% |
3 Bed | $299,000 | 0.3% |
4 Bed | $324,000 | 0.6% |
| 5 Bed | $380,000 | 0.5% |
% of Housing Stock
Rental Trends — Bakersfield, CA
As of July '25, Rentcast reports the average rent in Bakersfield, CA is $1,460, with a year-over-year rent change of -2.7%. Per bedroom, the median rent as of July '25 in Bakersfield, CA is studios: $1,070, 1-bedrooms: $1,040, 2-bedrooms: $1,240, 3-bedrooms: $1,990, 4-bedrooms: $2,200. The most common rental property sizes in Bakersfield, CA are 2-bedroom and 3-bedroom, accounting for 40.0% and 29.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,220 | $1,460 |
| Studio Rent | $1,020 | $1,070 |
| 1 Bed Rent | $1,050 | $1,040 |
| 2 Bed Rent | $1,180 | $1,240 |
| 3 Bed Rent | $1,980 | $1,990 |
| 4 Bed Rent | $1,950 | $2,200 |
% of Rental Stock
Property Listings — Bakersfield, CA
As of Oct '25, Realtor.com reports that the median days on market for a home in Bakersfield, CA is 42. This is a increase of 23.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 20.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $320,000 | 5.0% |
Listing Count | 109 | 2.0% |
| Listings as % of Homes | 0.3% | 2.0% |
Days on Market | 42 | 23.0% |
Demographics — Bakersfield, CA
As of the latest ACS Survey released in 2023, Bakersfield, CA has a population of 51,500, which has increased by 3.0% over the past 5 years. Bakersfield, CA is a popular place for families, as children make up 30.1% of the population. The area has a poorly educated workforce, with 11.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 2.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 51,500 | 3.0% |
% Under 18 | 30.1% | -2.6% |
% Seniors | 10.3% | 8.4% |
% WFH | 2.8% | -3.4% |
% w/ College Degree | 11.1% | 27.6% |
As of the latest ACS Survey released in 2023, Bakersfield, CA is a predominantly hispanic area, with 71.2% of the population identifying as hispanic. The hispanic population has grown by 11.4% in the last 5 years. The second most common race or ethnicity in Bakersfield, CA is white, making up 14.3% of the population. Foreign-born residents account for 21.9% of the population in Bakersfield, CA, and this percentage has increased by 3.8% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 14.3% | -31.9% |
% Black | 10.2% | -15.0% |
% Hispanic | 71.2% | 11.4% |
% Asian | 3.2% | 23.1% |
% Foreign Born | 21.9% | 3.8% |
Mortgage and Risk — Bakersfield, CA
According to HUD data as of 2023, there were 374 mortgage originations in Bakersfield, CA, of which 64.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 44.0% above 90% LTV (very high). This implies large mortgage risk in Bakersfield, CA. Investor activity is low, as 6.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 374 |
% Conventional Loans | 64.0% |
% Government Loans | 36.0% |
% Investor Loans | 6.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Bakersfield, CA
As of 2024, the percent of homes in Bakersfield, CA under the Section 8 program is 8.5%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 2-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Bakersfield, CA, because HUD payments exceed market rent, while 1-bedroom and 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,037 |
Total Units Section 8 | 742 |
% Rentals under Section 8 | 8.5% |
% Occupied Section 8 | 88.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$40 | $1,050 | $1,010 |
| 2 Bedroom | $130 | $1,180 | $1,310 |
| 3 Bedroom | -$140 | $1,980 | $1,840 |
| 4 Bedroom | $250 | $1,950 | $2,200 |
Affordability — Bakersfield, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5 |
| Median Home Price | $290,000 |
| Median Household Income | $51,600 |