In recent months, Bakersfield, CA, has emerged from the shadows of other more attractive California cities to become a magnet for those looking to buy new homes.
A far cry from the glitz and glamor of Los Angeles or the cutting-edge tech-centered San Francisco area, this more traditional Central Valley metro has built its fortunes on oil and agriculture. But until recently, it’s struggled to attract the same number of homebuyers as its more favorably viewed neighbors.
That’s all changed. With a push from the city to diversify its economy and better messaging around what the city has to offer residents, Bakersfield has suddenly become a hotspot for homebuyers. This sudden surge has led to an influx of new construction home developments as demand begins to outstrip supply.
Let’s examine why so many people have turned their attention to Bakersfield, a Californian city that has become a leading center for new home construction.
Bakersfield is Providing an Affordable Safe Haven for Those Struggling with Housing Costs
There’s a well-documented housing crisis unfolding in California. Currently, the state faces a housing shortfall of around 3.5 million homes, with new construction slowing rather than speeding up at the state level.
It’s being felt particularly sharply by those living in the most densely populated Californian cities. Residents of cities including San Jose, Los Angeles, San Diego, and San Francisco face median house prices sitting at nine times the average income. Meanwhile, a survey of Los Angeles residents has found that up to 60% of them plan to leave the city due to high housing costs.*
Against that backdrop, it may come as no surprise that, for many, Bakersfield has emerged as a promising candidate for relocation. Nestled in the southern portion of California’s Central Valley, it’s the county seat of Kern County. It boasts a rich history tied to the oil industry and agriculture, particularly in producing almonds, grapes, and citrus fruits. Bakersfield is also known for its country music scene, which has earned it the nickname “Nashville West.”
It’s the ninth-largest city in California and continues to grow its population yearly. But what’s driving this growth?
How Bakersfield’s Economy is Attracting Talent from Far and Wide
Perhaps the strongest pull for people moving to Baskersifled is the strong economy. The city is almost unique because it has the perfect blend of new and old industries. It has the stability provided by the centuries-old oil and agriculture industry paired with recent expansions into healthcare, engineering, and construction.
As the economy continues to diversify, there are plentiful job opportunities. The city is ranked 4th regionally for Science, Technology, Engineering, and Math (STEM) job creation, and it has been named the second-best metro area for Millennial job growth creation.*
As a result, the city boasts an excellent homeownership rate, with 60% of the population owning their own home. However, demand is outstripping supply, which has driven the recent explosion in residential home building. New construction homes are springing up within master-planned community developments at a rate of knots to cater to the growing population.
Why Are People Choosing New Construction Homes in Bakersfield?
Many people moving to Bakersfield are purchasing brand-new homes. These properties, which feature modern, energy-efficient designs and community amenities, are being snapped up by buyers at all life stages. The majority are first-time buyers. However, there’s a growing influx of Millennials purchasing their second or third home to cater to their growing families.
No matter the specific cohort, buyers appreciate the clear advantages of new construction homes in Bakersfield. Nationwide builders, including LGI Homes, are among the most popular choices.
They feature high-end finishes, appliances included, low monthly running costs, and financial incentives, including builder-paid closing costs in some communities. However, and perhaps most crucially, they offer move-in-ready availability. Those seeking quick relocation due to job offers can be in their new home in under 90 days.
In Bakersfield, they also represent an ever-growing proportion of the available housing stock, so even those less sold on the concept of new construction homes are opening their eyes to the benefits of purchasing one.
Bakersfield Offers the Perfect Family Lifestyle
As mentioned, Bakersfield has long been overlooked as a destination for families seeking the best of Californian life. However, once people spend time in the area, their opinions soon change.
Being just an hour away from Sierra Nevada ski resorts, the Sequoia National Forest, and endless hiking and biking trails along the Kern River leaves people wondering why they didn’t move sooner. There are also plenty of family-oriented parks, lakes, and more on the doorstep.
But it’s not just outdoor adventures that attract families and young professionals. There’s a thriving cultural scene, too. Aside from the country music influence, there are plenty of other attractions, including the Buena Vista Museum of Natural History, Kern County Museum, and the California Living Museum, while the Historic Bakersfield Fox Theater downtown offers a jam-packed schedule of live shows.
When you add the plethora of shopping and dining options, it quickly becomes clear why Bakersfield is soaring in popularity. It has everything young people and their families could ever need.
Tens of Thousands More Expected to Call Bakersfield Home Over Coming Years
As more people discover the benefits of living in Bakersfield, the city is likely to continue experiencing significant growth and development in the coming years.
For those considering a move to California or simply looking for a more affordable and fulfilling place to call home within the state, Bakersfield is definitely worth a closer look. With its strong economy, welcoming community, and endless opportunities for adventure and growth, it’s no wonder that this Central Valley gem is quickly becoming the hottest destination for new home buyers.
When you add in the benefits offered by investing in a brand-new property, there’s value for homebuyers at every turn. In a state amid a housing and cost of living crisis, it’s no surprise that tens of thousands more will soon relocate to this growing city that’s worked hard to shed its overlooked status.
*Additional sources: https://www.latimes.com/world-nation/newsletter/2024-05-11/high-housing-costs-california-politics-politics