Total monthly cost of ownership
Cost to Own a Home in Berkeley, California
A $1,351,000 home here costs
$9,889per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $424,000 a year.
A standard mortgage calculator would have told you $7,483. The real number is $2,405 higher every month, 32% more than the payment most buyers budget for.
Compare Alameda County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Berkeley against Alameda County and California
| Measure | Berkeley | Alameda County |
|---|---|---|
| Median home value | $1,351,100 | $1,057,400 |
| Median property tax | $10,001 | $8,061 |
| Effective tax rate | 0.740% | 0.762% |
| Median gross rent | $2,127 | $2,318 |
| Population | 120,223 | 1,651,949 |
The weather behind that power bill
Berkeley sits in Alameda County, which averages a high of 87.7°F in its hottest month and a low of 37.5°F in its coldest, with 15.18" of precipitation a year and 56% of it in a single three-month stretch. That climate drives 847 cooling and 2,709 heating degree days, which is what sets the $169 electricity line above.
See the full climate breakdown for Alameda County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Alameda County
Full Alameda County cost breakdown · Every county in California
Talk to someone who works this market
These are Berkeley averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Berkeley every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Berkeley I already own here and may sell
Common questions
How much does it cost to own a home in Berkeley?
A $1,351,000 home in Berkeley, California costs approximately $9,889 per month with 20% down at 7.4%. That is $7,483 principal and interest, $833 property tax, $209 homeowners insurance, $237 utilities and $1,126 set aside for maintenance.
What is the property tax rate in Berkeley?
Berkeley has an effective property tax rate of 0.740%, based on a median home value of $1,351,100 and median real estate taxes of $10,001. That is lower than the Alameda County average of 0.762%.
What is the average home price in Berkeley?
The median owner-occupied home value in Berkeley, California is $1,351,100, against $1,057,400 across Alameda County.
Is it cheaper to rent or buy in Berkeley?
Median gross rent in Berkeley is $2,127 a month, against $9,889 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Berkeley?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Berkeley, California at today's rate takes a household income of roughly $424,000 a year. That covers the full $9,889 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Berkeley, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for California.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.