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Bakersfield real estate market overview
- Average Monthly Rent: $1,460
- Home Price/Value Percentage Change: 3.50%
- Median Home Value: $365,618
- Best Time To Sell a Home: October
- Affordability Index: Moderate
- Days To Sell a House: 64
- Job Market: Weak
- Public School Ranking: 40
Location and weather
Bakersfield is a city in Kern County, about 120 miles south of Los Angeles, and is located in South-Central California. The city is in the Central Valley Region along the Kern River. Bakersfield is known for both agriculture and energy production. Kern County is the most productive oil-producing county and the fourth-most productive agricultural county (by value) in the United States. Nearby vineyards produce about one-tenth of the wine made in California.
The California Living Museum, a zoo, botanical gardens, and a natural history museum are just some of the places that attract tourists and entertain Bakersfield residents. Other museums include the Bakersfield Museum of Art, Kern County Museum, and Lori Brock Children's Discovery Center. Bakersfield is also known as "Nashville West" because of its contributions to country music. The city's educational institutions include Bakersfield College and California State University.
Bakersfield summers are warm, arid, and clear, while the winters are cold and partly cloudy. The summer temperatures are the 90's, with lows in the 70's. The winter temperatures are in the 60's, with lows in the 40's.
Population, job market and cost of living
Bakersfield's population in 2023 is 420,246, with a growth rate of 1.35%.
The job growth has decreased by -6.09% over the last year and in ten years, is predicted to have increased by 24.23%. The major industries are in agriculture, forestry, fishing, hunting, healthcare, social assistance and retail trade. The largest employers are Default, Bakersfield City School District, Clinica Sierra Vista, Continental Labor & Staffing Resources and Kern High School District.
The cost of living is moderate, due to the Bakersfield real estate market and the cost of available housing. With an agricultural and energy production job base, nearby vineyards, growing tourism to the city's cultural, arts and educational institutions, rich country music heritage and moderate cost of living, Bakersfield will continue to attract workers and families to live in this scenic South-Central California city.
Bakersfield real estate market details
- Downtown Bakersfield
- Quailwood
- Seven Oaks
- City in the Hills
- Olde Stockdale
- Laurelglen
The average monthly rent in Bakersfield is $1,460 for an average apartment size of 874 sq. feet.
There has been a 3.5% increase in median home value over the last year. As of 2023, the median home value is $365,618.
On average, homes in Bakersfield sell after 64 days on the market.
The best time to sell a home in Bakersfield for the highest valued sale is in October. If you're looking for a quick sale, the most efficient sales are in August.
The affordability index in Bakersfield is 103. This number indicates moderate affordability in this city.
The top ranked public schools in Bakersfield are Fruitvale Junior High School, Terra Del Sol Continuation High School, Valley Oaks Charter, Rio Bravo Elementary School and Bakersfield High School. This information derives from data measuring academic performance and equity.