The housing market in 94720 Berkeley, CA is living up to its reputation as an expensive place to live. The median value of a house in this area is a staggering $1,672,000, nearly five times the US median value of $338,100. Though home prices have appreciated by 8.27% on average across the country over the past year, prices in Berkeley have appreciated by a slightly lower rate of 7.93%. This makes real estate in this area highly sought after and competitive; an opportunity for investment here must be taken advantage of quickly to avoid being priced out.
The median home cost in Berkeley (zip 94720) is $1,672,000. Home appreciation the last 10 years has been 88.1%. Home Appreciation in Berkeley (zip 94720) is up 9.6%.
Average Age of Homes
- The median age of Berkeley (zip 94720) real estate is 50 years old
The Rental Market in Berkeley (zip 94720)
- Renters make up 57.7% of the Berkeley (zip 94720) population
- 35.7% of houses and apartments in Berkeley (zip 94720), 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.