Why is rent so high in Bakersfield?

Why is rent so high in Bakersfield?

“That’s called L.A. prices.” Bakersfield’s housing market has tightened drastically in recent years as a shortage of both apartments and homes for rent has met with heightened demand from people moving in from outside the area during the pandemic’s loosening of in-person workplace restrictions.

Is Bakersfield a good place to live?

The annual report is based on the quality of life, desirability, job market, value and housing. BAKERSFIELD, Calif. — The U.S. News World Report’s has just released its top places to live in 2019 — and Bakersfield made the cut.

Is Bakersfield a good rental market?

BAKERSFIELD, Calif. (KGET) — A new report shows Bakersfield broke the top 100 for most expensive rental market in the nation last month. Meanwhile, the city ranked as the 12th most affordable city in the U.S. when buying a home.

What is the vacancy rate in Bakersfield CA?

Bakersfield Rental Vacancy Rate The rental vacancy rate is the fraction of homes for rent that are not occupied. In 2019 the rental vacancy rate for Bakersfield California was 4.70% according to Census ACS data.

How healthy is Bakersfield California real estate?

BAKERSFIELD, Calif. Bakersfield’s annualized appreciation rate continues to rise with homes appreciating at 16.67 percent, up from 8.61 percent year over year. …

Does it get cold in Bakersfield?

In Bakersfield, the summers are sweltering, arid, and clear and the winters are cold and partly cloudy. Over the course of the year, the temperature typically varies from 41°F to 99°F and is rarely below 33°F or above 105°F.

Why is Bakersfield so cheap?

Affordable cost of living. The reason why housing is much more affordable in Bakersfield than in any other area is that the city does not have the same income earning potential as surrounding areas. In turn, the housing demand is not as strong hence the prices are lower.

Do people rent in Bakersfield?

29,295 or 25% of the households in Bakersfield, CA are renter-occupied while 87,755 or 74% are owner-occupied.

How much can a landlord raise rent in Bakersfield California 2021?

How Much Can a Landlord Raise the Rent in California? Under the new legislation, landlords will only be able to raise the rent by 5% (plus the local rate of inflation) for any existing tenant.

Does Bakersfield have rent control?

It is now illegal for residential landlords to raise rent more than 5 percent, plus the local rate of inflation, in one year. The COVID-related protections applicable to Bakersfield do not alter this.

Are house prices going down in Bakersfield California?

About Bakersfield, CA Bakersfield, CA has 47 homes on the market. Between December 2021 and January 2022, Bakersfield, CA real estate market has seen decrease in the number of listings by 42%. In January 2022 median list price was $346,633 and the average listing age was 79 days.

How much do you think the average house costs in Bakersfield?

The typical home value of homes in Bakersfield is $353,987. This value is seasonally adjusted and only includes the middle price tier of homes. Bakersfield home values have gone up 21.3% over the past year.

What should a renter ask before renting an apartment?

How much is the rent and what is included in it?

  • How do I pay rent and when is it due?
  • What happens if I miss the rent due date?
  • Is the security deposit refundable?
  • Is renters insurance necessary?
  • How long is the lease duration?
  • How much notice is required before moving out?
  • How much notice do you give before entering my unit?
  • How to find the perfect apartment for rent?

    Apartment Models. Once you do make your way through your list of apartments to look at,remember that model apartments are best case scenarios.

  • Security. Keep security in mind when searching – does the complex have a security gate?
  • Trash.
  • Amenities.
  • Mail&Packages.
  • Drive around the complex and neighborhood.
  • Do I make enough money to rent an apartment?

    While there is not a law that states that renters should make at least 3 times the price of its rent, this requirement is a common practice among America, especially in cities with high living standards such as New York, Chicago, Los Angeles, Boston, to name a few.

    What are the steps to renting an apartment?

    Pre-Listing Prep. Before you list your unit,it should be in turn-key condition.

  • Take Photos. Most tenants will skip over listings without photos,but showcasing high-quality listing photos helps to fill vacancies much faster.
  • List Your Home or Apartment.
  • Show the Space.
  • Sort Through Qualified Applications.
  • Screen Selected Applicants.