Fresno, California is the fifth city in the state, and ranks in at being thirty-fifth largest in the United States. Estimated population numbers for Fresno are about 505,000. Fresno is located in what can be considered the center of the state of California, right in the middle of San Joaquin Valley. Due Fresno largely being considered as the economical center of the Central California, it can be considered to be among the most popular areas when it comes to California real estate outside of Los Angeles County.
However, Fresno may prove to be below the expected average for the state when it comes to the average income of households and families. Currently, the household mean income is about $32,000, while the family average is only slightly higher, at about $35,000. Furthermore, over 26% of the population is considered to be below the poverty line.
Such factors will show to have an impact on Fresno property values and real estate market. The average listing price for Fresno property is about $232,000, though the actual sales price of homes is slightly over $150,000. However, some of the more popular areas or neighborhoods in the area, such as Bullard and Woodward Park, have higher listing averages, ranging between $320,000 and $360,000.
The discrepancy in Fresno property values may be due to the fact that some of the un-incorporated cities and towns outside of Fresno County are largely dependent on agrarian and rural resources, which is also bound to have an impact on the reported average annual incomes for the city as well.
