Call Us Today: 661-846-2112

Bakersfield Rental Vacancy Rates Near All Time Lows

By in Blog with 0 Comments

Historically Bakersfield has been a place that doesn’t have a large vacancy rate, however, in the recent past we have seen it get incredibly low. Some surveys show that the citywide vacancy is hovering around 1.5%. This means that there are not enough places to rent, and in turn, the rents can go up because there is so much demand but not enough supply. 

What Is Going On In Bakersfield Real Estate?

A large contribution, in my opinion, to the low vacancy rates in Bakersfield right now, are the lack of new units coming on the market. There are houses being built, but there are not a lot of new rental properties being built. On top of that, we have had a recent influx of Tenants to the area because it is more affordable than most other areas surrounding us. For example, in less than a 2 hour drive you can be in Los Angeles where rents are consistently the brunt of jokes, and people are trying to rent every inch of space and getting the prices they are asking for. Those people are starting to realize that they can work from home and are not stuck to their location and can move to somewhere nicer that they can afford and therefore they are making the move to purchase or rent here in Bakersfield. 

What Is Going To Happen When COVID Is Over?

Now that people are here from other areas, does that mean that they will go back to where they came from when COVID is over? My hypothesis is that they will not. Some will of course, but most will not because once people tend to move they tend not to move again for another 8 years, if they purchase a home, and especially if you buy a home, you will be less likely to leave this home to go back to a rental in another city. A lot of people who are introduced to Bakersfield correctly are amazed at the quality of properties, and how far their money will go which is attractive to the large majority of people who do not make a large income. 

If you are looking for a real estate investment in Bakersfield, please feel free to contact me using the information below.  

Join Our Investor Group – 

To Buy, Sell, Lease or Manage Through Us- 
https:// www.re-synergy.com

Like, Comment and Subscribe!
Connect with us @yourrealtorsunny

Synergy Real Estate & Property Management
Sunny Advani
Personal Lic # 01869864
Office Lic # 02012941

Share This
About The Author
Sanjeev Advani

• Hundreds of Investment Real Estate transactions successfully closed • 350+ Units currently under Property Management • 3+ Years of Construction Management Experience • Certified Property Manager, CCIM (In Progress) • Bachelors in Finance • Bakersfield, CA Native Deep Dive: I have been licensed in real estate for almost 10 years, and I have been specializing in investment and commercial real estate for the past 6 years. Through the years I have worked with Real Estate Developers, Investors, Average Joes, and many more. I am a Bakersfield native, and my educational background is in Finance. I have just completed the CPM (Certified Property Manager) certification which is one of the most prestigious designations in the Property Management Industry, with less than 1800 members world wide. I am also the President of the Board for Habitat for Humanity Golden Empire, the Vice President of the Board for Income Property Association of Kern County (IPAK), and Vice Chair of the Commercial Investment committee at the Board of Realtors. I look forward to working with you towards your real estate investment goals. Sunny Advani California Agent Lic# 01869863 | California Broker Lic# 02012941 Email: Sunny@RE-Synergy.com | Phone: +1 661 235 5726