Berkeley, CA is known as one of the most expensive areas to live in the country with a median home value of $1,320,600. This is significantly higher than the US median home value of $338,100. Despite this high cost of housing, Berkeley has seen a healthy appreciation rate for homes over the past year at 7.93%, which is only slightly lower than the national average appreciation rate of 8.27%. This further emphasizes how competitive and sought after properties are in Berkeley due to its many desirable features and close proximity to San Francisco.
The median home cost in Berkeley is $1,320,600. Home appreciation the last 10 years has been 88.1%. Home Appreciation in Berkeley is up 9.6%.
Average Age of Homes
- The median age of Berkeley real estate is 76 years old
The Rental Market in Berkeley
- Renters make up 53.7% of the Berkeley population
- 4.0% of houses and apartments in Berkeley, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.