Mortgage Calculator & Closing Costs: Bakersfield, CA
Mortgage payment estimates, closing cost breakdowns, and homebuying data for Bakersfield, California.
Median Home Price
$345K
Population
403K
Avg Monthly Rent
$1,320
Property Tax Rate
0.73% *
* Property tax shown is the California state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Bakersfield.
Bakersfield vs California Median
The median home price in Bakersfield is $345,000, which is 56% below the California state median of $785,000.
Mortgage Calculator — Bakersfield, CA
Pre-filled with Bakersfield median home price and California tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $345K home using California's 0.73% tax rate and $2,200/yr insurance.
5% Down
$2,656/mo
Down: $17,250
Loan: $328K
P&I: $2,072
Tax: $210
Insurance: $183
PMI: $191
10% Down
$2,537/mo
Down: $34,500
Loan: $311K
P&I: $1,963
Tax: $210
Insurance: $183
PMI: $181
20% Down (No PMI)
$2,138/mo
Down: $69,000
Loan: $276K
P&I: $1,745
Tax: $210
Insurance: $183
Income needed (28% rule): $92K/year with 20% down, $109K/year with 10% down.
Rent vs Buy in Bakersfield
Rent
$1,320/mo
vs
Buy (10% down)
$2,537/mo
Price-to-rent ratio: 21.8 — At a ratio above 20, renting may be more economical in Bakersfield for shorter stays. Buying costs $1,217 more per month than renting, and it typically takes 5-7 years to break even on the transaction costs of buying.
The median home price in Bakersfield is $345,000, 56% below the California state median of $785,000. With a population of 403,455, Bakersfield is a mid-size city where home prices tend to be more accessible than in many parts of California.
Property taxes in California average 0.73% annually. This moderate property tax rate means a $345,000 home in Bakersfield would carry roughly $210/month in property taxes. Homeowners insurance in California runs approximately $2,200 per year. This is within the normal range nationally.
Average rent in Bakersfield is $1,320/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Bakersfield presents moderate affordability. The $345K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Bakersfield.