Multifamily Market Overview Q1 2025 Bakersfield, CA

Market Overview

Bakersfield’s multifamily market entered 2025 with stable fundamentals. Rents remained flat quarter-over-quarter, averaging just above $1,350, while vacancy tightened slightly to 4.9%. Development activity is light, with most new supply concentrated in northwest Bakersfield. Population growth and affordability continue to support strong demand for Class B and C properties, especially among households priced out of larger California metros. With limited new construction and a steady tenant base tied to agriculture, energy, and logistics sectors, Bakersfield offers an attractive risk-return profile for long-term holders.

About Lee & Associates

Lee & Associates offers concise, market-driven reports tailored to the unique dynamics of smaller and mid-size metros like Bakersfield. Their quarterly snapshots focus on rent trends, absorption, and submarket highlights—perfect for operators and investors who need quick, clear insights without the fluff. With teams embedded in key California regions, Lee provides a practical, on-the-ground view that’s especially valuable for navigating local regulatory and supply-side challenges.

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