Bishop, CA Housing Market
AI-powered market intelligence for the Bishop, CA metro area.
PropertyIQ Scores
Bishop, CA Market Analysis
Market Overview
Bishop’s PropertyIQ Score of 52 out of 100 places it in a moderate market position. The score is most influenced by a median days on market of 61 and a 19.4% share of listings with a price cut. Those figures suggest a market that is neither overheated nor deeply distressed, but one where sellers need to be realistic on pricing and buyers may have some room to negotiate. The median home value in Bishop is $587,000, well below the state average of $764,158, and the rent index of $1,140 is also significantly below the state benchmark of $1,956.
Compared with California’s broader benchmarks, Bishop is more affordable in absolute home prices and rents, but household income is also lower. Bishop’s median household income is $72,432, versus $96,334 statewide, and its unemployment rate matches the state at 5.1%. The market has 36 homes for sale, and with a median days on market of 61, inventory is moving at a moderate pace. The year-over-year change in home value is -$1, which is essentially flat rather than a meaningful decline.
Population growth data is not available for Bishop, which limits a full assessment of demand-side pressure. Still, the combination of a moderate score, stable unemployment, and prices below state averages suggests a market that is accessible but not aggressive.
Key Trends
First, price movement is essentially flat. The median home value of $587,000 is down just $1 year over year, indicating stability rather than appreciation or depreciation. This is not a market showing rapid price gains or steep declines.
Second, listing activity reflects a moderate pace with some seller flexibility. There are 36 homes for sale and a median days on market of 61. The 19.4% share of listings with a price cut is among the top score drivers and indicates that nearly one in five sellers has reduced the asking price. That points to a negotiating environment where buyers may have opportunities.
Third, affordability is mixed. Bishop’s median home value is lower than the state average, but its median household income of $72,432 is also lower than the state’s $96,334. The rent index of $1,140 is far below the state’s $1,956, which helps renters and may keep local housing costs lower, but it also signals lower potential rental income compared with the state benchmark.
Fourth, the labor market is steady but not a standout. Unemployment is 5.1%, exactly matching the state average. With no population growth data available, there is no clear indicator of expanding demand from new residents.
Who Is This Market For
This market is likely best suited to local owner-occupants and buyers who want a lower absolute purchase price than the California state average. With a median home value of $587,000 compared with $764,158 statewide, buyers may find Bishop more approachable, though the lower median household income of $72,432 means affordability is not dramatically better. The 19.4% share of listings with a price cut and 61-day median days on market may appeal to first-time buyers and move-up buyers who are prepared to negotiate.
Investors should weigh the trade-off between lower entry prices and a rent index of $1,140, which is well below the state average of $1,956. That lower rent level may limit cash flow compared with other California markets, though the stable unemployment rate of 5.1% and moderate price cuts could support long-term holds. Buyers seeking rapid appreciation or flipping opportunities may find this market less attractive, given the essentially flat year-over-year home value and the moderate PropertyIQ Score of 52 out of 100.
Outlook
The data points toward a continued moderate market in Bishop. The median home value has been essentially flat, with a year-over-year change of -$1, and the 19.4% share of listings with a price cut suggests sellers are already adjusting to maintain buyer interest. With 36 homes for sale and a median days on market of 61, there is enough activity to keep the market moving, but not so much that prices are likely to surge. Unemployment at 5.1%, in line with the state, provides a neutral labor market signal. The absence of population growth data leaves an open question about future demand, but based on the available figures, Bishop appears positioned to remain a stable, moderate market rather than one shifting sharply in either direction.
AI-generated analysis based on current market data. Last updated September 25, 2026.
Get Bishop, CA market updates
Choose your role for tailored insights.
Bishop, CA market data
Bishop, CA Housing Market Overview
Bishop, CA's median home value is $338K. Homes here sell in a median 61 days. Its PropertyIQ Score of 52 sits right around the state average of 50.
Whether you're considering buying a home, investing in rental property, or weighing entry timing in the Bishop, CA area, the PropertyIQ Score gives you a single, data-first read on relative market strength. It is validated against actual market outcomes from 2001 to 2023, with a positive score-to-return relationship in every validated year across CA and every other US state.
Pacific Coast housing markets feature the nation's highest price points alongside strong wage growth from technology, entertainment, and trade sectors. Supply constraints from geographic barriers and regulatory environments create persistent affordability challenges but also strong long-term appreciation potential. Within the Pacific, Bishop, CA's PropertyIQ Score of 52 tracks near the Pacific norm.
California's housing market is defined by extreme supply-demand imbalance, with CEQA regulations and geographic constraints limiting new construction. Despite affordability challenges, strong wage growth in tech and entertainment sectors sustains prices.
Each month, PropertyIQ updates its score for Bishop, CA using four inputs: Zillow ZHVI twelve-month and three-month momentum, Realtor.com median days on market, and the Realtor.com share of listings with price cuts. These four signals are combined into a single 1 to 99 score computed across all metro markets and calibrated so 50 represents the state average, making it a direct read of how this market is positioned to perform relative to its state.
Use PropertyIQ's interactive analytics to compare Bishop, CA against any other US metro on its PropertyIQ Score and underlying metrics. Generate a free AI market report, explore historical trends on the graphs page, or see how this market ranks on the scores dashboard.
Counties in the Bishop, CA metro area
Market data through August 2026. Sourced from Zillow, Realtor.com, Redfin, U.S. Census Bureau, FRED, BLS, and BEA. Per-statistic source and date shown above.
Frequently Asked Questions
Is Bishop, CA a good place to buy real estate in 2026?
PropertyIQ doesn't label markets simply good or bad. Instead, the PropertyIQ Score measures a market's demand momentum against its own state, where 50 marks the state average. Bishop, CA currently scores 52, a steady-momentum reading that leaves it tracking close to its state average. For buyers, a balanced market means neither side holds a decisive edge, giving you time to shop carefully without racing the clock. Backing that up, the median home value here is $338K. So whether Bishop, CA is right for you comes down to your goals: a rising-momentum market can favor long-term appreciation but offers less room to negotiate, while a cooling one hands buyers more leverage. Treat the score as a timing signal to weigh alongside your budget, holding period, and plans for the property, not a verdict on the market's quality.
What is the PropertyIQ Score for Bishop, CA?
Bishop, CA's PropertyIQ Score is 52, indicating steady momentum on a 1-to-99 scale. The score distills four transparent inputs into a single number: Zillow home-value momentum over the past 12 months, Zillow home-value momentum over the past 3 months, the median days homes spend on the market from Realtor.com, and the share of listings with a price cut, also from Realtor.com. Rising values and faster sales push the score up, while slow sales and frequent price cuts pull it down. The scale is calibrated so 50 equals the state average, meaning a score above 50 predicts the market will outperform its state over the next three years and a score below 50 predicts underperformance. PropertyIQ computes the score across every US market nationally, then recenters it against each state, so 52 places Bishop, CA above its state benchmark.
How quickly do homes sell in Bishop, CA?
In Bishop, CA, homes sell in a median of 61 days from listing to pending sale, based on Realtor.com market data. Median days on market is one of the clearest real-time reads on local demand: when homes move quickly, buyers are competing and sellers hold the advantage, while lengthening timelines signal cooling interest and more room to negotiate. Alongside sale speed, about 19% of active listings here have taken at least one price cut — a complementary demand gauge, since a rising share of reductions often precedes slower sales and softer prices. Both median days on market and the price-cut share feed directly into the PropertyIQ Score, where faster sales and fewer cuts push the score higher. As a general guide, medians under about 30 days indicate a brisk, competitive market, while medians well beyond 60 days point to buyers regaining leverage. Actual time on market still varies by price band, property type, and season, so treat the median as a market-wide baseline.
How current is this metro area data?
This Bishop, CA market data is refreshed on a monthly cycle, with the latest figures current through August 2026. PropertyIQ ingests fresh data every month from a range of authoritative sources: home values and rents from Zillow, days on market and price-cut activity from Realtor.com, additional housing signals from Redfin, demographic and housing-stock data from the U.S. Census Bureau, mortgage and macroeconomic series from FRED, and employment figures from the Bureau of Labor Statistics and the Bureau of Economic Analysis. The PropertyIQ Score itself is recomputed every month once the new source data lands, so the score and its four underlying inputs always reflect the most recent complete reporting period rather than a static snapshot. Because official housing data is typically released with a short lag, the current-through date usually trails the present by a few weeks, which is normal across the industry and not a sign the data is out of date.