Berkeley, CA—94704
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 $1,111,000, with a year-over-year change of -3.8%. This indicates that home prices in Berkeley, CA are decreasing. According to Zillow, the 1-year price projection is -2.1%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $1,111,000 | -3.8% |
| Single Family | $1,462,000 | -3.6% |
| Condos | $617,000 | -5.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $544,000 | -3.7% |
2 Bed | $789,000 | -5.8% |
3 Bed | $1,305,000 | -2.6% |
4 Bed | $1,560,000 | -1.3% |
| 5 Bed | $1,875,000 | -1.0% |
% 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 -9.0%. Per bedroom, the median rent as of July '25 in Berkeley, CA is studios: $2,020, 1-bedrooms: $2,100, 2-bedrooms: $3,040, 3-bedrooms: $3,340, 4-bedrooms: $3,220. The most common rental property sizes in Berkeley, CA are 1-bedroom and 2-bedroom, accounting for 30.0% and 28.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,300 | $2,520 |
| Studio Rent | $2,000 | $2,020 |
| 1 Bed Rent | $2,100 | $2,100 |
| 2 Bed Rent | $2,900 | $3,040 |
| 3 Bed Rent | $3,150 | $3,340 |
| 4 Bed Rent | $2,200 | $3,220 |
% 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 55. This is a decrease of -2.0% 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 10.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $746,000 | -20.0% |
Listing Count | 20 | 29.0% |
| Listings as % of Homes | 0.1% | 29.0% |
Days on Market | 55 | -2.0% |
Demographics — Berkeley, CA
As of the latest ACS Survey released in 2023, Berkeley, CA has a population of 24,400, which has decreased by -16.3% over the past 5 years. Berkeley, CA is a less popular place for families, as children make up 4.3% of the population. The area has a highly educated workforce, with 71.7% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 26.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 24,400 | -16.3% |
% Under 18 | 4.3% | 43.3% |
% Seniors | 5.9% | 31.1% |
% WFH | 26.1% | 210.7% |
% w/ College Degree | 71.7% | 3.3% |
As of the latest ACS Survey released in 2023, Berkeley, CA is a predominantly asian area, with 36.8% of the population identifying as asian. The asian population has grown by 5.7% in the last 5 years. The second most common race or ethnicity in Berkeley, CA is white, making up 35.5% of the population. Foreign-born residents account for 27.5% of the population in Berkeley, CA, and this percentage has increased by 8.7% 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 | 35.5% | -9.9% |
% Black | 4.9% | -14.0% |
% Hispanic | 13.5% | 2.3% |
% Asian | 36.8% | 5.7% |
% Foreign Born | 27.5% | 8.7% |
Mortgage and Risk — Berkeley, CA
According to HUD data as of 2023, there were 37 mortgage originations in Berkeley, CA, of which 97.0% of loans were conventional mortgages. The average loan-to-value was 52.0%, with 0.0% above 90% LTV (normal). This implies small mortgage risk in Berkeley, CA. Investor activity is low, as 11.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 37 |
% Conventional Loans | 97.0% |
% Government Loans | 3.0% |
% Investor Loans | 11.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Berkeley, CA
As of 2024, the percent of homes in Berkeley, CA under the Section 8 program is 4.3%. 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. 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 | 320 |
Total Units Section 8 | 320 |
% Rentals under Section 8 | 4.3% |
% Occupied Section 8 | 73.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$130 | $2,100 | $1,970 |
| 2 Bedroom | -$500 | $2,900 | $2,400 |
| 3 Bedroom | -$80 | $3,150 | $3,070 |
| 4 Bedroom | $1,450 | $2,200 | $3,650 |
Affordability — Berkeley, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 23.4 |
| Median Home Price | $1,111,000 |
| Median Household Income | $52,100 |