Bakersfield, California, offers a golden opportunity to live the good life without breaking the bank. The city’s lower cost of living makes budgeting a breeze compared to other parts of the state. From Bakersfield homes for sale to everyday expenses, this charming community provides a financially sustainable environment for individuals and families. Here’s how to make the most of your money in Bakersfield:
Housing: Getting more home for your money
The median home price in Bakersfield is around $350,000 as of early 2024, far below the $700,000+ prices standard in coastal California cities. You can find lovely 3-bedroom homes for under $400,000, with mortgages around $2,000/month – a fraction of what you’d pay elsewhere in the state. Bakersfield’s low housing costs allow renters to afford modern 2-bed apartments at an average monthly rate of $1,300.
Cost of living: Affordable essentials
Bakersfield residents pay less for other essentials than many California cities. Groceries, utilities, transportation, and healthcare all come at a discount. Experts recommend budgeting around $3,500/month for a family of four to live comfortably in Bakersfield without feeling too financially stretched. Single professionals can quickly get by on $2,000-$2,500/month.
Employment prospects: Good-paying industries
Thanks to industries like logistics, aerospace, and healthcare, Bakersfield residents can find relatively high-paying job opportunities. The median household income of $63,000 allows for comfortable budgeting even if you’re not wealthy. Many people in Los Angeles, San Francisco, and Sacramento are relocating to Bakersfield due to lower costs.
Bakersfield real estate
Bakersfield, CA, has a thriving real estate market and popular destination for homebuyers and investors. Bakersfield’s diverse neighborhoods, excellent schools, and proximity to outdoor recreation areas make it an appealing choice for families and enthusiasts. Whether you’re a first-time buyer or a seasoned investor, Bakersfield’s real estate market promises exciting opportunities.
How to buy a home in Bakersfield
A Bakersfield, California, house purchase necessitates thorough planning and investigation. To better understand your budget, begin by obtaining a mortgage pre-approval. Work with a local real estate agent to explore neighborhoods and view listings that fit your criteria. Attend open houses and schedule private showings. Once you find the right property, submit an offer through your agent. If accepted, secure financing, complete inspections, and prepare for closing costs. Bakersfield’s affordable home prices and growing economy make it an attractive market for buyers. However, be diligent in searching for the perfect home that meets your needs and budget in this Central Valley city.
Living in Bakersfield
Bakersfield has a unique blend of urban convenience and rural charm. The city is renowned for its strong agriculture and oil industries, attracting a diverse community with a work ethic. Despite the scorching summer heat, residents find solace in the nearby Kern River, providing a refreshing escape. Bakersfield’s affordable living cost and proximity to natural wonders like Sequoia National Forest make it an appealing place to live despite traffic congestion. From vibrant food truck festivals to country music venues, this city celebrates its rich cultural heritage with a warm, welcoming spirit.
