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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Berkeley, CA Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q3 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2021 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Berkeley, CA Housing Market Trends

With 118,950 people, 44,195 houses or apartments, and a median cost of homes of $1,285,092, Berkeley house prices are not only among the most expensive in California, Berkeley real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Berkeley, accounting for 40.07% of the city's housing units. Other types of housing that are prevalent in Berkeley include large apartment complexes or high rise apartments ( 35.69%), duplexes, homes converted to apartments or other small apartment buildings ( 19.98%), and a few row houses and other attached homes ( 3.98%).

People in Berkeley primarily live in small (one, two or no bedroom) single-family detached homes. Berkeley has a mixture of owner-occupied and renter-occupied housing.

The housing in Berkeley was primarily built before 1939 ( 46.42%), making the housing stock in Berkeley some of the oldest overall in America, although there is a range of ages of homes in Berkeley. The next most important housing age is between 1940-1969 ( 28.89%), followed by between 1970-1999 ( 17.02%). There's also some housing in Berkeley built between 2000 and later ( 7.67%).

Vacant housing appears to be an issue in Berkeley. Fully 10.28% of the housing stock is classified as vacant. Left unchecked, vacant Berkeley homes and apartments can be a drag on the real estate market, holding Berkeley real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Berkeley Home Appreciation Rates

Real estate appreciation rates in Berkeley's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.03% during the period.

Over the last year, Berkeley appreciation rates have trailed the rest of the nation. In the last twelve months, Berkeley's appreciation rate has been 1.14%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Berkeley were at 4.17%, which equates to an annual appreciation rate of 17.76%.

Relative to California, our data show that Berkeley's latest annual appreciation rate is higher than 70% of the other cities and towns in California.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Berkeley differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Berkeley - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Berkeley real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$1,285,092

Berkeley, CA Home Prices
> $1,172,000
$879,001 - $1,172,000
$586,001 - $879,000
$469,001 - $586,000
$351,001 - $469,000
$234,001 - $351,000
$117,001 - $234,000
$59,001 - $117,000
$0 - $59,000
55.3%
55.3%
23.6%
23.6%
11.4%
11.4%
2.7%
2.7%
2.2%
2.2%
1.1%
1.1%
0.7%
0.7%
0.6%
0.6%
2.5%
2.5%
0% 100.0%
% of Homes
Very High

for California

Very High

for nation

Number of Homes And Apartments:

44,195

Berkeley Appreciation Rates

Rent & Ownership

Average Market Rent:

$3,323 / per month

Homeownership Rate

Owners
Renters
Vacant
38.3%
38.3%
61.7%
61.7%
10.3%
10.3%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
7.7%
7.7%
17.0%
17.0%
28.9%
28.9%
46.4%
46.4%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
40.1%
40.1%
4.0%
4.0%
20.0%
20.0%
35.7%
35.7%
0.2%
0.2%
0.1%
0.1%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
9.4%
9.4%
24.2%
24.2%
30.5%
30.5%
21.2%
21.2%
10.9%
10.9%
3.8%
3.8%
0% 100.0%
% of Homes