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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 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (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 a population of 117,145, 45,884 total housing units (homes and apartments), and a median house value of $1,329,524, 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 40.82% of the city's housing units. Other types of housing that are prevalent in Berkeley include large apartment complexes or high rise apartments ( 34.31%), duplexes, homes converted to apartments or other small apartment buildings ( 20.56%), and a few row houses and other attached homes ( 4.00%).

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 ( 47.55%), 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 ( 28.12%), followed by between 1970-1999 ( 17.22%). There's also some housing in Berkeley built between 2000 and later ( 7.11%).

Berkeley Home Appreciation Rates

In the last 10 years, Berkeley has experienced some of the highest home appreciation rates of any community in the nation. Berkeley real estate appreciated 117.46% over the last ten years, which is an average annual home appreciation rate of 8.08%, putting Berkeley in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Berkeley definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Berkeley that despite a nationwide downturn in the housing market, Berkeley real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Berkeley appreciation rates continue to be some of the highest in America, at 17.05%, which is higher than appreciation rates in 78.22% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Berkeley. Berkeley appreciation rates in the latest quarter were at 5.12%, which equates to an annual appreciation rate of 22.12%.

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:
$1,329,524

Berkeley, CA HOME PRICES

> $1,258,000
$944,001 - $1,258,000
$629,001 - $944,000
$503,001 - $629,000
$377,001 - $503,000
$252,001 - $377,000
$126,001 - $252,000
$63,001 - $126,000
$0 - $63,000
52.3%
52.3%
25.0%
25.0%
13.3%
13.3%
3.0%
3.0%
2.2%
2.2%
1.2%
1.2%
1.3%
1.3%
0.5%
0.5%
1.1%
1.1%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for CA

Value Relative To Nation

Number Of Homes And Apartments:
45,884

Berkeley Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2022 Q2 - 2022 Q3
Last 12 Months:
2021 Q3 - 2022 Q3
Last 2 Years:
2020 Q3 - 2022 Q3
Last 5 Years:
2017 Q3 - 2022 Q3
Last 10 Years:
2012 Q3 - 2022 Q3
Since 2000:
2000 Q1 - 2022 Q3
214.67% 5.17%
8
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$3,202 / per month

Homeownership Rate

Owners
Renters
Vacant
38.3%
38.3%
61.7%
61.7%
8.3%
8.3%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
7.1%
7.1%
17.2%
17.2%
28.1%
28.1%
47.5%
47.5%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
40.8%
40.8%
4.0%
4.0%
20.6%
20.6%
34.3%
34.3%
0.3%
0.3%
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
9.4%
9.4%
23.7%
23.7%
30.8%
30.8%
21.0%
21.0%
11.4%
11.4%
3.7%
3.7%
0.0% 100.0%
% OF HOMES