Berkeley Housing Market and Home Prices: What the Official Data Shows

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Last updated November 13, 2026. Reviewed by the Cash Home Buyers CA team.

Berkeley’s median owner-occupied home value is $1,413,900, but its median household income is only $108,092, so the gap between what homes cost and what local households earn is wide. This guide uses official Census Bureau and City of Berkeley data to explain the Berkeley housing market, including a transfer tax that is unusual in California and can change a seller’s net proceeds.

Berkeley housing at a glance

Population (July 1, 2025 estimate)	121,911 (California: 39,355,309)
Change since April 2020 estimates base	-1.9% (California: -0.5%)
Median value of owner-occupied homes, 2020-2024	$1,413,900 (California: $734,700)
Owner-occupied housing unit rate	44.2% (California: 55.9%)
Median gross rent	$2,133 (California: $2,036)
Households	47,135, averaging 2.27 persons
Median household income (2024 dollars)	$108,092 (California: $99,122)
Persons in poverty	17.3% (California: 11.4%)
Lived in the same house a year earlier	74.8% (California: 89.2%)
Bachelor’s degree or higher (age 25+)	74.9% (California: 37.1%)

Source: Census Bureau QuickFacts. Home value, rent, income, poverty and tenure are 2020-2024 American Community Survey five-year estimates; population is the July 2025 estimate.

The affordability gap

The median value of owner-occupied homes in Berkeley is $1,413,900, about 92% above the statewide $734,700 (our arithmetic). Median household income is only about 9% above the state figure. Dividing value by income gives a ratio of roughly 13, compared with about 7.4 statewide.

The ratio compares owner-occupied homes with all households, including a large student and renter population, so it overstates the burden on typical owners, but it explains why Berkeley prices depend heavily on buyers whose income comes from outside the city or from existing equity.

A renter and student city

Only 44.2% of Berkeley housing units are owner-occupied, compared with 55.9% for California, and just 74.8% of residents lived in the same house a year earlier, versus 89.2% statewide. That higher turnover reflects the university-driven population. Median gross rent of $2,133 is only about 5% above the state, even though home values are far above it.

For sellers who own a rental house or a duplex, this matters: rental income does not scale with the purchase price, so investors price Berkeley properties more on land value and future potential than on current rent.

The Berkeley transfer tax

Berkeley levies a real property transfer tax on sales, and its tiers are higher than the typical California county transfer tax. The City of Berkeley’s transfer tax page states a rate of 1.5% for properties up to $1.7 million and 2.5% for properties over $1.7 million. Its examples: a property that sells for $1.7 million owes $25,500, and one that sells for $2 million owes $50,000.

The same page quotes ballot-measure language setting a 2.5% rate for properties valued at $1.6 million or higher, rising to 3% at $1.9 million and to 3.5% at $3.0 million, effective January 1, 2027, with thresholds adjusted annually.

If you plan to sell a higher-priced property near those thresholds, confirm the current schedule directly with the city, because timing a sale around a rate change can swing your net by tens of thousands of dollars.

Customarily the seller and buyer negotiate who pays; ask your escrow officer how it is handled on your contract. Read more in our seller closing costs guide.

Property tax in Berkeley

The City of Berkeley’s property tax page lists a countywide ad valorem rate of 1.00%, plus voter-approved city and school district taxes and fees, including a fire, emergency services and wildfire prevention tax and a Berkeley Unified School District tax. A sale resets the assessed value for the new owner.

Sellers who bought long ago and buyers who are looking at a long-held house should read our Prop 13 reassessment guide and the Alameda County property tax guide.

The supply plan: 8,934 units

Berkeley’s Housing Element page says its allocation for 2023-2031 is 8,934 residential units, compared with 2,959 for the prior 2015-2023 cycle, roughly triple. That is a planning target the city must zone for, not a count of homes to be built.

More allowed density can raise lot values for owners of older single-family houses and duplexes, but it also introduces uncertainty, so check the Berkeley zoning and ADU guide for what your lot allows.

Older homes, permits and condition

Berkeley has many older homes, and older homes often come with deferred maintenance, additions built without permits, and code notices. Buyers who finance want clean permit history. The Berkeley building permits guide and code enforcement guide explain how to check, and the statewide guide to selling as-is with unpermitted work covers disclosure. For broader context see the Alameda County housing report and the California home price and sales report.

How to sell a house in Berkeley

Pull your permit history and estimate transfer tax and closing costs.
Compare recent sold homes of similar size, age and condition.
Request a no-obligation cash offer for the house as it is.
Choose your closing date.
Close with no repairs, no showings and no listing commissions.

More local pages: we buy houses in Berkeley and the Berkeley cash offer process.

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Frequently asked questions

What is the median home value in Berkeley?

The Census Bureau reports $1,413,900 for owner-occupied housing units, 2020-2024, compared with $734,700 for California.

What is Berkeley’s transfer tax?

The city states 1.5% for properties up to $1.7 million and 2.5% above that. Its page also quotes ballot-measure language with higher tiers effective January 1, 2027, so confirm the current schedule with the city.

Do most Berkeley residents own their homes?

No. The owner-occupied rate is 44.2%, compared with 55.9% for California.

How much is rent in Berkeley?

Median gross rent is $2,133 per the 2020-2024 American Community Survey, compared with $2,036 statewide.

How many new homes must Berkeley plan for?

The city’s Housing Element says its 2023-2031 allocation is 8,934 residential units.

Can I sell my Berkeley house as-is?

Yes. California sellers can sell as-is, including to cash buyers, with required disclosures.

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Sources

This guide is general information from public sources, not legal, tax or appraisal advice. Confirm current figures with official sources.