Quick facts: Berkeley, CA

Quick Facts

140.3
Cost of Living
above US average
118,950
Population
57.93
Crime Rate per 1000
above US average
$104,716
Median Income
above US average
$789,000
Median House Price
above US average
$2616.43
Average Rent
above US average
14%
Poverty Rate
above US average
4.5%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $104,716.

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Income Needed to Buy

βœ— Stretch
$248k/year
Based on $789,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $248k vs median $104,716
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Income Needed to Rent

⚠ Stretch
$112k/year
Based on $2616.43/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $112k vs median $104,716
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Berkeley, CA

Berkeley, California, is a vibrant city located on the eastern shore of San Francisco Bay, known for its rich history, cultural diversity, and academic prominence. Home to the prestigious University of California, Berkeley, the city has a strong intellectual and activist spirit, fostering a lively atmosphere with numerous events, lectures, and art exhibitions. Berkeley’s diverse neighborhoods, such as the historic North Berkeley and the lively Telegraph Avenue, offer a mix of charming restaurants, cafes, bookstores, and shops. The area is famous for its culinary scene, which includes everything from gourmet dining to diverse international cuisine. The city also hosts a robust farmers' market, celebrating local and organic produce. Natural beauty can be found in the nearby hills and parks, like Tilden Regional Park and the Berkeley Marina, providing ample opportunities for hiking, biking, and enjoying picturesque views of the Bay. Berkeley is also known for its commitment to sustainability and environmental initiatives. With its dynamic blend of academia, culture, and nature, Berkeley remains a unique destination that attracts visitors for its innovative spirit and progressive values.

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