Bakersfield Residents Share Concerns Over Rising Housing Costs, Job Market

Bakersfield carries an economy index of C, rated somewhat prosperous, with a median household income of $74,452 and an unemployment rate of 7.3 percent, figures below state and national averages for income yet higher for joblessness.

The data arrives as the Bakersfield-Delano metropolitan statistical area recorded a current-dollar GDP near $59.8 billion in 2023 and Kern County posted real GDP growth of 5.2 percent to $46.9 billion, gains tied to energy and agriculture.

Payrolls and Housing Figures

Total nonfarm employment reached 293,000 payrolls in June, up 2.1 percent from the prior year, while the local unemployment rate fell to 8.3 percent from 8.7 percent the month before. New-home sales dropped 3.2 percent year-over-year to an annualized pace of 1,492 units in July, with the average list price for a new detached home listed at $434,883 in August.

Community members note that these payroll gains sit alongside an unemployment rate that remains elevated compared with broader benchmarks, and they point to the gap between the reported median income and the cost of new housing listed near $434,883.

Agriculture and Energy Base

Kern County stays California’s top oil-producing county and the fourth most productive agricultural county by value nationwide, posting a 2023 crop value above $8.63 billion. Residents in neighborhoods tied to these sectors describe steady work in fields and wells offset by monthly swings in hiring and the pressure of housing prices that have not eased with the sales decline.

City data through the provided records show the economy’s C rating rests on these mixed indicators, leaving households to weigh the 2.1 percent employment rise against the 7.3 percent unemployment mark and the drop in new-home transactions.

Local agencies continue to track the same monthly payroll and sales releases, giving residents updated numbers to assess against their own expenses in the months ahead.