Bakersfield, CA—93311
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 $473,000, with a year-over-year change of 0.5%. 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 | $473,000 | 0.5% |
| Single Family | $474,000 | 0.2% |
| Condos | $263,000 | -0.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $380,000 | 0.0% |
3 Bed | $419,000 | 0.0% |
4 Bed | $493,000 | 0.0% |
| 5 Bed | $557,000 | -0.5% |
% of Housing Stock
Rental Trends — Bakersfield, CA
As of July '25, Rentcast reports the average rent in Bakersfield, CA is $2,640, with a year-over-year rent change of 4.8%. Per bedroom, the median rent as of July '25 in Bakersfield, CA is 1-bedrooms: $1,590, 2-bedrooms: $1,910, 3-bedrooms: $2,490, 4-bedrooms: $3,020. The most common rental property sizes in Bakersfield, CA are 2-bedroom and 3-bedroom, accounting for 39.2% and 32.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,450 | $2,640 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,600 | $1,590 |
| 2 Bed Rent | $1,850 | $1,910 |
| 3 Bed Rent | $2,300 | $2,490 |
| 4 Bed Rent | $2,650 | $3,020 |
% 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 21.0% 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 | $534,000 | 1.0% |
Listing Count | 226 | 17.0% |
| Listings as % of Homes | 0.6% | 17.0% |
Days on Market | 48 | 21.0% |
Demographics — Bakersfield, CA
As of the latest ACS Survey released in 2023, Bakersfield, CA has a population of 52,500, which has increased by 14.7% over the past 5 years. Bakersfield, CA is a popular place for families, as children make up 28.7% of the population. The area has a moderately educated workforce, with 38.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 52,500 | 14.7% |
% Under 18 | 28.7% | 5.9% |
% Seniors | 11.5% | 10.6% |
% WFH | 10.5% | 144.2% |
% w/ College Degree | 38.9% | 1.8% |
As of the latest ACS Survey released in 2023, Bakersfield, CA is a predominantly hispanic area, with 38.2% of the population identifying as hispanic. The hispanic population has grown by 15.1% in the last 5 years. The second most common race or ethnicity in Bakersfield, CA is white, making up 33.7% of the population. Foreign-born residents account for 20.9% of the population in Bakersfield, CA, and this percentage has increased by 3.5% 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 | 33.7% | -20.7% |
% Black | 5.8% | 34.9% |
% Hispanic | 38.2% | 15.1% |
% Asian | 17.5% | 2.9% |
% Foreign Born | 20.9% | 3.5% |
Mortgage and Risk — Bakersfield, CA
According to HUD data as of 2023, there were 696 mortgage originations in Bakersfield, CA, of which 71.0% of loans were conventional mortgages. The average loan-to-value was 73.0%, with 41.0% above 90% LTV (very high). This implies large mortgage risk in Bakersfield, CA. Investor activity is low, as 1.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 696 |
% Conventional Loans | 71.0% |
% Government Loans | 29.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Bakersfield, CA
As of 2024, the percent of homes in Bakersfield, CA under the Section 8 program is 0.3%. 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. 2-bedroom and 3-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 units do not.
Section 8 Market Size
Total Units under HUD | 16 |
Total Units Section 8 | 16 |
% Rentals under Section 8 | 0.3% |
% Occupied Section 8 | 89.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$90 | $1,600 | $1,510 |
| 2 Bedroom | $110 | $1,850 | $1,960 |
| 3 Bedroom | $450 | $2,300 | $2,750 |
| 4 Bedroom | $640 | $2,650 | $3,290 |
Affordability — Bakersfield, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.8 |
| Median Home Price | $473,000 |
| Median Household Income | $118,000 |