About Real Estate in Bakersfield California
Considered as one of the largest and fastest growing cities in California, real estate in Bakersfield is also fast becoming a prime property that attracts a lot of buyers. The city of Bakersfield is located a just little over a hundred 100 miles between Los Angeles and Fresno. In the most recent census, the registered population of the city is 347,483 living in the total land area of 142.2 sq mi. This means that there is about 2,444 The city’s strategic location between major cities like Sacramento, Los Angeles and Fresno, makes it a very viable place to settle down mostly because the cost of living in Bakersfield is comparatively lower than it neighboring cities and it is lower by 2.7% than the average across the U.S.
The continuous migration of people and the developments that happens all around the city has also contributed to the rising cost of real estate in Bakersfield. What’s interesting to note is that, despite the housing bubble that shook the entire U.S economy, the houses in Bakersfield CA where still able to maintain most of their value and in 2011, the value of real estate appreciated by 7.83%. This year, the average cost of houses in Bakersfield CA is at $129,500 which is still relatively lower than the U.S average of $152,300. So you see this is really a very good opportunity for first time home buyers or those who are thinking of moving into California should check out the listings of the houses for sale at Bakersfield CA.
The overall economy of the City of Bakersfield is showing a positive trend as shown by the increase in the new hires and new job opportunities across the city. Since last year, the number of jobs in Bakersfield has increased by 1.17%. Analysts forecast that if this current job trend continues, the number of jobs in the city could increase 28.94% by the next ten years. The income tax collected by the city government is currently at 4%, while the sales tax is fixed at 7.25%. The average income of each household is at $50,337 per year.
The general population in Bakersfield is made of people from different ethnic backgrounds. However, the major group of people living in the city is white who compose 56.79% of the population, followed by the blacks with 8.16% and Asians who makes up 6.17% of the population. At least 10.56% of the people residing in Bakersfield claim to be of Hispanic origin. The average household size in Bakersfield is only 3.11 and majority of the families live in rented apartments while 7.95% of the apartments and houses around the city are still unoccupied.
People who are planning to purchase a new home or retire in a place that is similar to a city but without all the rush and stresses of the city can very well consider owning one of the houses in Bakersfield CA. Home buyers can find more information about the houses in Bakersfield CA online or you can also visit your local real estate broker regarding the properties for sale or rent in Bakersfield, California.
