Bakersfield, CA—93309
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 1.6%, 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 | $353,000 | 0.3% |
| Condos | $229,000 | -1.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $163,000 | 0.0% |
2 Bed | $248,000 | -2.0% |
3 Bed | $342,000 | 0.6% |
4 Bed | $421,000 | 0.0% |
| 5 Bed | $525,000 | 1.2% |
% of Housing Stock
Rental Trends — Bakersfield, CA
As of July '25, Rentcast reports the average rent in Bakersfield, CA is $1,670, with a year-over-year rent change of 7.1%. Per bedroom, the median rent as of July '25 in Bakersfield, CA is studios: $1,110, 1-bedrooms: $1,160, 2-bedrooms: $1,470, 3-bedrooms: $2,010, 4-bedrooms: $2,570. The most common rental property sizes in Bakersfield, CA are 2-bedroom and 3-bedroom, accounting for 45.8% and 23.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,600 | $1,670 |
| Studio Rent | $1,020 | $1,110 |
| 1 Bed Rent | $1,120 | $1,160 |
| 2 Bed Rent | $1,400 | $1,470 |
| 3 Bed Rent | $1,900 | $2,010 |
| 4 Bed Rent | $2,480 | $2,570 |
% 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 48. 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 24.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $361,000 | 1.0% |
Listing Count | 180 | 16.0% |
| Listings as % of Homes | 0.3% | 16.0% |
Days on Market | 48 | 23.0% |
Demographics — Bakersfield, CA
As of the latest ACS Survey released in 2023, Bakersfield, CA has a population of 64,000, which has increased by 7.8% over the past 5 years. Bakersfield, CA is a popular place for families, as children make up 27.8% of the population. The area has a poorly educated workforce, with 19.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 64,000 | 7.8% |
% Under 18 | 27.8% | 9.9% |
% Seniors | 12.9% | 6.6% |
% WFH | 5.9% | 84.4% |
% w/ College Degree | 19.9% | -2.0% |
As of the latest ACS Survey released in 2023, Bakersfield, CA is a predominantly hispanic area, with 53.9% of the population identifying as hispanic. The hispanic population has grown by 20.6% in the last 5 years. The second most common race or ethnicity in Bakersfield, CA is white, making up 30.1% of the population. Foreign-born residents account for 15.7% of the population in Bakersfield, CA, and this percentage has increased by 9.8% 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 | 30.1% | -22.6% |
% Black | 8.5% | -13.3% |
% Hispanic | 53.9% | 20.6% |
% Asian | 4.0% | -2.4% |
% Foreign Born | 15.7% | 9.8% |
Mortgage and Risk — Bakersfield, CA
According to HUD data as of 2023, there were 709 mortgage originations in Bakersfield, CA, of which 64.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 37.0% 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. 18.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 709 |
% Conventional Loans | 64.0% |
% Government Loans | 36.0% |
% Investor Loans | 6.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 18.0% |
Loan Activity
Rentals and Section 8 — Bakersfield, CA
As of 2024, the percent of homes in Bakersfield, CA under the Section 8 program is 4.4%. 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. In Bakersfield, CA, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 504 |
Total Units Section 8 | 484 |
% Rentals under Section 8 | 4.4% |
% Occupied Section 8 | 89.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $30 | $1,120 | $1,150 |
| 2 Bedroom | $90 | $1,400 | $1,490 |
| 3 Bedroom | $190 | $1,900 | $2,090 |
| 4 Bedroom | $20 | $2,480 | $2,500 |
Affordability — Bakersfield, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5 |
| Median Home Price | $344,000 |
| Median Household Income | $62,100 |