Berkeley, CA—94702
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Berkeley, CA
As of Oct '25, the median home price in Berkeley, CA is $1,113,000, with a year-over-year change of -7.1%. This indicates that home prices in Berkeley, CA are decreasing. According to Zillow, the 1-year price projection is -1.5%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $1,113,000 | -7.2% |
| Single Family | $1,135,000 | -6.5% |
| Condos | $723,000 | -5.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $676,000 | -6.6% |
2 Bed | $1,027,000 | -7.2% |
3 Bed | $1,256,000 | -5.0% |
4 Bed | $1,439,000 | -5.1% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Berkeley, CA
As of July '25, Rentcast reports the average rent in Berkeley, CA is $2,520, with a year-over-year rent change of -15.2%. Per bedroom, the median rent as of July '25 in Berkeley, CA is studios: $1,790, 1-bedrooms: $2,200, 2-bedrooms: $2,630, 3-bedrooms: $3,460, 4-bedrooms: $3,670. The most common rental property sizes in Berkeley, CA are 2-bedroom and 1-bedroom, accounting for 38.3% and 33.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,380 | $2,520 |
| Studio Rent | $1,650 | $1,790 |
| 1 Bed Rent | $2,300 | $2,200 |
| 2 Bed Rent | $2,400 | $2,630 |
| 3 Bed Rent | $3,300 | $3,460 |
| 4 Bed Rent | $3,300 | $3,670 |
% of Rental Stock
Property Listings — Berkeley, CA
As of Oct '25, Realtor.com reports that the median days on market for a home in Berkeley, CA is 29. This is a decrease of -12.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 15.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $924,000 | -6.0% |
Listing Count | 26 | 0.0% |
| Listings as % of Homes | 0.2% | 0.0% |
Days on Market | 29 | -12.0% |
Demographics — Berkeley, CA
As of the latest ACS Survey released in 2023, Berkeley, CA has a population of 17,100, which has remained stable by -0.1% over the past 5 years. Berkeley, CA is a moderately popular place for families, as children make up 19.7% of the population. The area has a highly educated workforce, with 65.5% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 33.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 17,100 | -0.1% |
% Under 18 | 19.7% | 5.9% |
% Seniors | 17.8% | 11.9% |
% WFH | 33.2% | 277.3% |
% w/ College Degree | 65.5% | 6.5% |
As of the latest ACS Survey released in 2023, Berkeley, CA is a predominantly white area, with 47.9% of the population identifying as white. The white population has shrunk by 1.0% in the last 5 years. The second most common race or ethnicity in Berkeley, CA is black, making up 15.3% of the population. Foreign-born residents account for 18.6% of the population in Berkeley, CA, and this percentage has increased by 7.5% 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 | 47.9% | -1.0% |
% Black | 15.3% | -17.7% |
% Hispanic | 12.0% | -4.8% |
% Asian | 14.9% | 17.3% |
% Foreign Born | 18.6% | 7.5% |
Mortgage and Risk — Berkeley, CA
According to HUD data as of 2023, there were 167 mortgage originations in Berkeley, CA, of which 93.0% of loans were conventional mortgages. The average loan-to-value was 49.0%, with 4.0% above 90% LTV (normal). This implies small mortgage risk in Berkeley, CA. Investor activity is low, as 1.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 167 |
% Conventional Loans | 93.0% |
% Government Loans | 7.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Berkeley, CA
As of 2024, the percent of homes in Berkeley, CA under the Section 8 program is 19.0%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Berkeley, CA, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom and 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 825 |
Total Units Section 8 | 734 |
% Rentals under Section 8 | 19.0% |
% Occupied Section 8 | 74.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$380 | $2,300 | $1,920 |
| 2 Bedroom | -$60 | $2,400 | $2,340 |
| 3 Bedroom | -$290 | $3,300 | $3,010 |
| 4 Bedroom | $260 | $3,300 | $3,560 |
Affordability — Berkeley, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 12.4 |
| Median Home Price | $1,113,000 |
| Median Household Income | $99,100 |