Bakersfield, CA—93306
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 $344,000, 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 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $344,000 | 0.7% |
| Single Family | $346,000 | 0.3% |
| Condos | $247,000 | 0.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $171,000 | 4.3% |
2 Bed | $266,000 | -1.1% |
3 Bed | $327,000 | 0.0% |
4 Bed | $405,000 | 0.7% |
| 5 Bed | $493,000 | 0.4% |
% of Housing Stock
Rental Trends — Bakersfield, CA
As of July '25, Rentcast reports the average rent in Bakersfield, CA is $1,870, with a year-over-year rent change of 7.5%. Per bedroom, the median rent as of July '25 in Bakersfield, CA is studios: $2,000, 1-bedrooms: $1,030, 2-bedrooms: $1,460, 3-bedrooms: $2,190, 4-bedrooms: $2,500. The most common rental property sizes in Bakersfield, CA are 2-bedroom and 3-bedroom, accounting for 39.8% and 36.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,800 | $1,870 |
| Studio Rent | $2,000 | $2,000 |
| 1 Bed Rent | $995 | $1,030 |
| 2 Bed Rent | $1,350 | $1,460 |
| 3 Bed Rent | $2,100 | $2,190 |
| 4 Bed Rent | $2,450 | $2,500 |
% 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 53. This is a increase of 35.0% 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 23.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $410,000 | -3.0% |
Listing Count | 264 | 11.0% |
| Listings as % of Homes | 0.6% | 11.0% |
Days on Market | 53 | 35.0% |
Demographics — Bakersfield, CA
As of the latest ACS Survey released in 2023, Bakersfield, CA has a population of 73,400, which has remained stable by -0.0% over the past 5 years. Bakersfield, CA is a popular place for families, as children make up 29.7% of the population. The area has a poorly educated workforce, with 18.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 73,400 | 0.0% |
% Under 18 | 29.7% | -5.1% |
% Seniors | 13.0% | 14.0% |
% WFH | 6.6% | 88.6% |
% w/ College Degree | 18.2% | 5.8% |
As of the latest ACS Survey released in 2023, Bakersfield, CA is a predominantly hispanic area, with 67.2% of the population identifying as hispanic. The hispanic population has grown by 8.0% in the last 5 years. The second most common race or ethnicity in Bakersfield, CA is white, making up 23.4% of the population. Foreign-born residents account for 18.9% of the population in Bakersfield, CA, and this percentage has decreased by 1.0% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 23.4% | -20.9% |
% Black | 3.5% | 20.7% |
% Hispanic | 67.2% | 8.0% |
% Asian | 2.5% | -21.9% |
% Foreign Born | 18.9% | -1.0% |
Mortgage and Risk — Bakersfield, CA
According to HUD data as of 2023, there were 855 mortgage originations in Bakersfield, CA, of which 65.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 39.0% above 90% LTV (very high). This implies large mortgage risk in Bakersfield, CA. Investor activity is low, as 4.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 855 |
% Conventional Loans | 65.0% |
% Government Loans | 35.0% |
% Investor Loans | 4.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Bakersfield, CA
As of 2024, the percent of homes in Bakersfield, CA under the Section 8 program is 5.3%. 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. 1-bedroom and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Bakersfield, CA, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 405 |
Total Units Section 8 | 405 |
% Rentals under Section 8 | 5.3% |
% Occupied Section 8 | 89.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $65 | $995 | $1,060 |
| 2 Bedroom | $30 | $1,350 | $1,380 |
| 3 Bedroom | -$170 | $2,100 | $1,930 |
| 4 Bedroom | -$130 | $2,450 | $2,320 |
Affordability — Bakersfield, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.7 |
| Median Home Price | $344,000 |
| Median Household Income | $67,000 |