TM

Local Expert Insights

• Focus on zip codes 93313, 93312, and 93309 where most of the inventory is REO/foreclosures

• The level of inventory has dropped significantly recently and multiple offers are common. Most new listings are on the market for 30 days or less.

• Approximately 20% of buyers are now investors and 80% are owner-occupants (mostly first time homebuyers)

• Investors are primarily buying the less expensive homes and turning them into rentals

• Schools are generally well-rated and the oil industry is still a primary source of employment in the area

Overview Settled in 1858, Bakersfield is a city of almost 300,000 people, located in inland Southern California, an hour and fifty minutes north of Los Angeles. The city is a both past finalist and winner of the National Civic League’s coveted “All-America City Award”. The city is the 11th fastest growing city in the US and the 11th largest city in California.

Bakersfield provides a wide assortment of arts and cultural offerings, including: The Rabobank Arena Theater & Convention Center, The McMurtrey Aquatics Center, The Bakersfield Symphony Orchestra, and The Fox Theatre.

Bakersfield is also home to ECHL Bakersfield Condors Hockey Team and has its own Minor League Baseball team, the Bakersfield Blaze.

On the Map

July 2009 | www.SmartZip.com

BAKERSFIELD, CA

Key Investment Metrics

Average SmartZip Score™ 73 Growth

64 Income

Average Market Value: $167,439

$94 per Sq. Ft.

10-Year Proj. Appreciation: 45%

Average Monthly Rent: $1,277

Average Cap Rate: 4.8%

10-Year Proj. Population Growth: 28%

Bakersfield, CA Heat Maps

About the Top 10 Markets The SmartZip Top 10 Markets™ is a featured list of the top rated markets hand-picked by our panel of investment analysts. Candidates for the list are identified using our proprietary SmartZip Score™ ratings averaged across the Growth and Income investment strategies. Learn more at www.SmartZip.com

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