Bakersfield, CA Homes For Sale - California Real Estate | BEX Realty (2024)

FAQs

Are home prices going up in Bakersfield? ›

The average Bakersfield, CA home value is $383,247, up 6.1% over the past year and goes to pending in around 12 days.

Bakersfield, with its strategic location in California's Central Valley, has experienced consistent population growth over the years. The city's population trends indicate a steady increase, which is a positive sign for real estate investors seeking areas with a potential demand for housing.

Bakersfield is known for its strong sense of community and friendly residents. The city hosts numerous community events, such as the annual Kern County Fair and various local festivals, which bring people together and foster a sense of belonging.

When you rent an apartment in Bakersfield, you can expect to pay about $932 per month for a studio, $1,157 for a one-bedroom apartment, and around $1,385 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,779 or more. $932/mo.

Bakersfield's median sale price is 7% lower than the national average. Overall cost of living in Bakersfield is 11% higher than the national average. Learn which home features in Bakersfield add value to a home.

Retirement in Bakersfield, California, offers many advantages. For seniors who enjoy spending time outdoors, the climate is warm and sunny all year round. Compared to other cities in California, Bakersfield also has a low cost of living, which can be especially beneficial for seniors.

Dubbed “Nashville West,” Bakersfield is renowned for its contributions to country music and is the home of many recording artists, including Merle Haggard and Buck Owens. Educational institutions include Bakersfield (community) College (founded 1913) and California State University, Bakersfield (1965).

The 5 largest ethnic groups in Bakersfield, CA are White (Non-Hispanic) (29.8%), White (Hispanic) (23%), Other (Hispanic) (14.7%), Two+ (Hispanic) (13.8%), and Asian (Non-Hispanic) (7.32%).

Is Bakersfield getting more expensive? ›

Median Sold Price

Homes in Bakersfield have sold for 1.6% more than they did a year ago. Summary: The median home sold price in Bakersfield was $378,142 in May 2024, up 1.6% from last year, and the median price per square foot was $226.

The data used in the study analyzed the cost of living in each city as of 2024. In some California cities, like Bakersfield and Fresno, a single person would need to make at least $89,190 to “live comfortably,” the data shows.

Bakersfield ranked in the middle at 77.5 years.

The revised California median home price forecast is for a rise 0f 6.2% to $860,300 in 2024, a -1.5% drop this year to $810,000 from $822,300 in 2022.

The California Department of Finance has released its annual population estimates for the state as of January 2021 and it shows Bakersfield continues to grow! The new population estimate has crept even closer to the 400,000 mark, with an estimate of 397,392.

Bakersfield's economy is centered on many diverse industries. Agriculture, healthcare, oil, government, and distribution are just a few of the many industries that contribute to one of the fastest growing economies and regions in the nation.

CPI and Housing Prices

Since 1963, inflation has risen 896%, while housing prices have risen by more than 2,350%. During that same time, rent rose by 892%. That means rent has held pace with inflation, while homes have seen significant price increases, even when adjusted for inflation.