Situated along rolling hills, Northeast Bakersfield is home to a rapidly growing population of 211,175 residents. Bakersfield Country Club and homes along Panorama Drive on the Bluffs, have historically been named some of the most affluent neighborhoods in Bakersfield. Overall, the Northeast is predominantly middle and upper middle class. Average household income comes in at $54,498.
Within the next five years, 5,000 new homes are planned within the trade area. With the revitalization of downtown Bakersfield and the redevelopment of East Hills Mall to a mixed-use development, the Northeast sector will continue to rapidly grow. In 2002, the City of Bakersfield and the California Water Service Company completed a $53 million water treatment plant in the Northeast section to service over 10,000 homes. No other part of Bakersfield can accommodate this much additional growth.
With limited develop-able retail land, the Northeast region is currently under served in the retail and commercial sector. Anchor tenants such as Target, Vons, WinCo or Home Depot are needed within the area along with smaller retailers and restaurants.
Bakersfield lies in Kern Country and covers about 142 square miles near the southern end of the San Joaquin Valley and Central Valley region. The City's population is approximately 365,000, making it the ninth-most populous city in California. The City is a hub for both agriculture and oil production. Kern County is the most productive oil producing county in the States. The county ranks in the top five for most productive agricultural counties in the nation. The city also serves as the home for both corporate and regional headquarters for companies engaged in these industries.
The City is centrally located and provides a short drive to many metropolitan areas. Los Angeles is a two hour drive, San Francisco is four hours north and Las Vegas is a five hour drive east.
With more affordable homes than the coastal markets and its position between LA and the Bay Area, Bakersfield has become a magnet for Millennials. From 2010-2013, Bakersfield's Millennial population grew by almost 40%. One-third of Bakersfield's population is in the 20-34 year old range.