Stein Valuation, Inc.
Real Estate Appraisals & Consultation
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Following is a typical Appraisal Location description utilized by the Appraiser in analyzing the general area market trends.
Big Bear Lake Area Description
Big Bear Lake City, California's total population of 5,439 consisted of 4,467 residents that were at least 15 years of age, according to the U.S. Census Bureau's census results for the year 2000. Census results also show that Big Bear Lake City had 3,979 residents that were at least 25 years old.
The same census results also show that there were 1,157 students in the city, 49.0% of which were in elementary school; 25.0% were in high school; and only 12.2% were in college or graduate school. About 85.3% of the population aged 25 and above were high school graduates but only 23.0% had a bachelor's degree or higher.
Big Bear Lake City had a total labor force of 2,590, consisting of residents aged 16 years and above. Out of the total labor force, 2,432 were employed and only 154 were unemployed. Of the 2,432 employed civilian population, 1,387 were males and 1,045 were females. Median earnings for full-time, year-round male employees were $36,316, while median earnings for full-time, year-round female employees were $21,404 in year 1999.
Majority of the male and female employees worked in the accommodation and food services industries. About 68.1% of the employed civilian population worked for private companies; 13.2% worked for the government; 17.6% were self-employed; and 1.1% were categorized as unpaid family workers.
There were 2,359 households in the city recorded in the official 2000 census results. Only 1.4% of the total number of households had income of at least $200,000; 2.9% had income of between $150,000 and $199,999; 6.7% had income of between $100,000 and $149,999; 8.2% had income of between $75,000 and $99,999; 17.8% had income of between $50,000 and $74,999; 12.5% had income of between $35,000 and $49,999; 11.6% had income of between $25,000 and $34,999; 20.6% had income of between $15,000 and $24,999; 7.8% had income of between $10,000 and $14,999; and 10.6% had income of less than $10,000. For the year 1999, the median income of Big Bear Lake City households was $34,447 while mean earnings were $48,563.
Records also show that there were 1,476 families in Big Bear Lake City. About 98 families had income of less than $10,000; 104 had income from $10,000 to $14,999; 286 had income from $15,000 to $24,999; 155 had income from $25,000 to $34,999; 189 had income from $35,000 to $49,999; 272 had income from $50,000 to $74,999; 173 had income from $75,000 to $99,999; 118 had income from $100,000 to $149,999; 49 had income from $150,000 to $199,999; and 32 had income from $200,000 or more. The median family income was $41,848 in year 1999. There were 164 families identified to be below the poverty level in 1999, of which 112 had children under 18 years of age.
Big Bear Lake City's housing units totaled 8,696, 7,286 of which were single-detached units; 326 were single-attached units, and 700 were multiple housing units. Most of the housing structures were built between 1970 and 1989. Around 1,600 housing units were built from 1990 to 1998, and only 146 were erected between 1999 and March 2000.
There were 2,341 occupied housing units in Big Bear Lake City and about 270 vacant ones, based on year 2000 census results. About 100 of the vacant housing units were for sale and 170 were for rent.
Out of the 1,200 owner-occupied units, 755 had mortgage and 445 had no mortgage. Most households had mortgage between $1,000 to $1,999. The median monthly mortgage cost was $1,339. Only 1.0% of the owner-occupied units were worth less than $50,000; 20.3% were worth $100,000 to $149,999; 20.2% were worth $150,000 to $199,999; 29.8% were worth $200,000 to $299,999; and only 0.9% were worth at least $1,000,000. The median value of the owner-occupied units was $193,300.
Out of the 840 renter-occupied units, none had gross rent of less than $200; 1.2% had gross rent of $200 to $299; 26.8% had gross rent of $300 to $499; 43.7% had gross rent of $500 to $749; and only 7.0% had gross rent of $1,000 to $1,499. None of the housing units were for rent above $1,500. The median gross rent was $581.
None of the vacant housing units for sale had price tags below $20,000. Only a few were sold at the $20,000-$24,999 price range. Most were sold at the $100,000-$149,999 price range. None of the housing units were sold above $750,000. The median selling price was $150,000.
None of the vacant housing units were for rent below $300. Most of the vacant housings were for rent at the $350-$499 range. The median rental fee was $526, according to the year 2000 census.
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Additional statistical data for the area is presented below: Please note: differences between the above and below values are related to differing sources, though the ranges are considered to be quite reliable.