January's First-Time Homebuyer Report for Downtown

Downtown has a cost of living adjustment score of 137.2, which is expensive when compared to others in Oakland. Also, the area is considered much less affluent than average with a median income of $24,941 per household. Homes in Downtown are older than most with a median age of 51 years. Topping the list of best schools in the neighborhood is Oakland Aviation High School.

Price Range

The median value of homes in Downtown is $315,600, making the area almost identical to others in Oakland. At the same time, the average list price of available homes is presently $709,111. The number of homes coming into the Downtown market jumped to three listings over the last 30 days, while sales remained right where they were as once again one home was sold over the same period.

Typical Dwelling

The typical dwelling in Downtown is a two-bedroom condo worth about $862,812. To purchase a similar home, a buyer with good credit and a $172,562 cash down payment could obtain a mortgage with a 3.95% interest rate and a $3,732 monthly payment. The property tax rate is $7.10 per $1,000 of taxable assessed value.

Get started right now by checking out Downtown homes for sale or reviewing Downtown real estate trends.


Data reported through 1/12/2017

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