Oakland, CA Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Oakland, CA Housing Market Trends

With 433,031 people, 162,419 houses or apartments, and a median cost of homes of $668,200, real estate costs in Oakland are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive California communities.

Single-family detached homes are the single most common housing type in Oakland, accounting for 42.16% of the city's housing units. Other types of housing that are prevalent in Oakland include large apartment complexes or high rise apartments ( 34.69%), duplexes, homes converted to apartments or other small apartment buildings ( 17.50%), and a few row houses and other attached homes ( 5.26%).

People in Oakland primarily live in small (one, two or no bedroom) single-family detached homes. Oakland has a mixture of owner-occupied and renter-occupied housing.

The housing in Oakland was primarily built before 1939 ( 37.57%), making the housing stock in Oakland some of the oldest overall in America, although there is a range of ages of homes in Oakland. The next most important housing age is between 1940-1969 ( 33.10%), followed by between 1970-1999 ( 21.32%). There's also some housing in Oakland built between 2000 and later ( 8.02%).

Oakland Home Appreciation Rates

In the last 10 years, Oakland has experienced some of the highest home appreciation rates of any community in the nation. Oakland real estate appreciated 124.77% over the last ten years, which is an average annual home appreciation rate of 8.44%, putting Oakland in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Oakland definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Oakland appreciation rates have trailed the rest of the nation. In the last twelve months, Oakland's appreciation rate has been 0.36%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Oakland were at 0.44%, which equates to an annual appreciation rate of 1.77%.

Notably, Oakland's appreciation rate in the latest quarter is one of the lowest in America.

Relative to California, our data show that Oakland's latest annual appreciation rate is lower than 80% of the other cities and towns in California.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Oakland differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Oakland - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Oakland real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$668,200

Oakland, CA HOME PRICES

> $1,177,000
15.9%
15.9%
$882,001 - $1,177,000
16.6%
16.6%
$588,001 - $882,000
28.1%
28.1%
$471,001 - $588,000
13.4%
13.4%
$353,001 - $471,000
13.5%
13.5%
$235,001 - $353,000
7.3%
7.3%
$118,001 - $235,000
2.8%
2.8%
$59,001 - $118,000
0.9%
0.9%
$0 - $59,000
1.5%
1.5%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

High for CA

Value Relative To Nation

Number Of Homes And Apartments:
162,419

Oakland Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
175.55% 4.94%
9
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,453 / per month

Homeownership Rate

Owners
40.1%
40.1%
Renters
59.9%
59.9%
Vacant
6.3%
6.3%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
8.0%
8.0%
1970 - 1999
21.3%
21.3%
1940 - 1969
33.1%
33.1%
1939 or Older
37.6%
37.6%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
42.2%
42.2%
Townhomes
5.3%
5.3%
Small Apt. Buildings
17.5%
17.5%
Apt. Complexes
34.7%
34.7%
Mobile Homes
0.4%
0.4%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
8.5%
8.5%
1 Bedroom
23.3%
23.3%
2 Bedrooms
32.6%
32.6%
3 Bedrooms
24.9%
24.9%
4 Bedrooms
8.3%
8.3%
5 or more bedrooms
2.5%
2.5%
0.0% 100.0%
% OF HOMES