Bakersfield, CA
Kern County · Pop. 407,615
Ranked #106 of 243 cities
42Moderate
Median Home Price
🏠$320K
2.5% YoY
Median Rent
🔑$1,250
2.0% YoY
Median Income
💰$52K
Rent Burden
📊31.0%
% of income to rent
Income to Buy
🏦$92K
annual income needed
Income to Rent
📝$50K
annual income needed
Price-to-Income
⚖️6.2x
Homeownership
🏡56.0%
Rent vs. Buy
Buy
$1,703/mo
Est. mortgage (7%, 20% down)
Need $92K/yr income
Rent
$1,250/mo
Median rent
Need $50K/yr income
How Bakersfield Compares
| Metric | Bakersfield | California | National |
|---|---|---|---|
| Home Price | $320K | $726K | $410K |
| Rent | $1,250 | $1,992 | $1,500 |
| Income | $52K | $96K | $75K |
| Rent Burden | 31.0% | 40.5% | 30.0% |
Key Takeaways
- • Home prices in Bakersfield are 22% lower than the national average.
- • Rent is 17% lower than the national average.
- • You need an income of $92K to comfortably buy a home here.
- • The homeownership rate is 56.0%, compared to 65.0% nationally.