Berkeley, CA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Berkeley, CA Real Estate Data


Berkeley Housing Market Information

With a population of 120,972, 45,917 total housing units (homes and apartments), and a median house value of $928,495, 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 43.45% of the city's housing units. Other types of housing that are prevalent in Berkeley include large apartment complexes or high rise apartments ( 33.39%), duplexes, homes converted to apartments or other small apartment buildings ( 19.12%), and a few row houses and other attached homes ( 3.78%).

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 ( 49.53%), 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 ( 29.13%), followed by between 1970-1999 ( 15.83%). There's also some housing in Berkeley built between 2000 and later ( 5.50%).

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 45.25% over the last ten years, which is an average annual home appreciation rate of 3.80%, putting Berkeley in the top 10% 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 8.61%, which is higher than appreciation rates in 88.63% 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 1.37%, which equates to an annual appreciation rate of 5.58%.

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:
$928,495

Berkeley, CA HOME PRICES

Value Range
> $1,379,000 15.9
$1,034,001 - $1,379,000 22.5
$689,001 - $1,034,000 32.0
$552,001 - $689,000 9.1
$414,001 - $552,000 4.8
$276,001 - $414,000 3.1
$138,001 - $276,000 3.9
$69,001 - $138,000 1.3
$0 - $69,000 1.4

Very High for CA
Very High for Nation

Value Relative to Nation Value Relative to State
1.22465721317239 12.8306878306878

Number Of Homes And Apartments:
45,917

Rent & Ownership

 

Average Market Rent:
$2,555 / per month

Homeownership Rate

Homeownership
Owners 38.21
Renters 61.79
Vacant 7.56

Housing Market Details

 

Age of Homes

AGE OF Berkeley HOMES
2000 or Newer 5.5
1970 - 1999 15.8
1940 - 1969 29.1
1939 or Older 49.5

Types of Homes

TYPE OF Berkeley HOMES
Single-Family 43.5
Townhomes 3.8
Small Apt. Buildings 19.1
Apt. Complexes 33.4
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF Berkeley HOMES
No Bedroom 8.31
1 Bedroom 26.08
2 Bedrooms 30.42
3 Bedrooms 21.02
4 Bedrooms 9.81
5 or more bedrooms 4.36

Berkeley Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
130.79% 4.97% 10 10
* 10 is highest