Stein Valuation, Inc.
Real Estate Appraisals & Consultation
Our appraisal experience spans the spectrum of property types and includes, apartment, office buildings, industrial buildings, R & D Buildings, mobile home parks, residential subdivisions, retail buildings and shopping centers, mixed portfolios, same-use portfolios, mixed use buildings, and a multitude of other property types. If you are a new visitor to our site, we invite you to explore these pages for more information on our services and the appraisal industry.
Following is a typical Appraisal Location description utilized by the Appraiser in analyzing the general area market trends.
Cerritos Area Description
According to the U.S. Census Bureau’s official census in year 2000, Cerritos City had an overall population of 51,507. Out of the total population, 40,728 residents were at least 16 years of age, of which 21,402 were females. There were 34,351 city residents who were at least 25 years old.
Records on education show that in the year 2000, there were 6,194 enrollees in elementary schools; 5,772 in colleges and universities; 3,833 in high schools; 741 in nursery schools and preschools; and 628 in kindergarten. About 90.7% of Cerritos City’s population aged 25 and above were high school graduates but only 43.7% had bachelor’s degree or higher.
Of the 51,507 total number of residents in Cerritos City, 15,612 lived in housing units, 13,364 of which were single-detached housing units and 1,220 were single-attached housing units. Around 600 were multiple housing units that could house up to four individuals and 396 were multiple housing units that could accommodate five or more individuals. There were only 32 mobile homes. Out of all the housing units, 15,395 were occupied and at least 108 were vacant, based on year 2000 census results. About 69 of the vacant housing units were for sale while 39 were for rent.
The asking price for the housing units was at least $100,000 and at most $499,999. Most of the housing units for sale had price tags of between $250,000 and $399,999. None of the housing units were sold above $500,000. The median asking price was $301,600.
None of the vacant housing units were for rent for less than $800 or more than $2,000. Most of the housing units had rental fees of between $900 and $1,999. The median rental fee was $1,188, according to the year 2000 census.
Cerritos City had a total labor force of 25,441, comprised of individuals who were at least 16 years of age. Out of the 25,441 labor force, 24,366 were employed and 1,058 were unemployed. About 12,219 females who were at least 16 years old belonged to the labor force. About 11,721 of them were employed.
The U.S. Census Bureau’s year 2000 census results showed that 73.5% of the workers were hired by private companies, 16.2% worked for the government, and only 9.8% were self-employed. About 24,366 of the total employed population that were at least 16 years old had management, professional, and related occupations. About 31.3% had sales and office jobs; 8.3% had service occupations; 7.7% had production, transportation, and material moving occupations; 4.5% had construction and maintenance occupations; while none had farming or fishing jobs.
Census results for the year 2000 showed that 4,968 residents worked for the educational, health and social services industry and 3,778 worked in manufacturing. About 2,944 worked in retail trade, and 2,502 worked in the professional, scientific, management, administrative, and waste management services.
Employment records also showed that 1,968 residents worked in the finance, insurance, real estate, and rental and leasing industry; 1,623 were in wholesale trade; 1,586 were in transportation and warehousing and utilities industry; 1,340 were in the arts, entertainment, recreation, accommodation and food services industry; 1,127 were in public administration; 824 were in the information industry; 785 were in construction; 19 were in agriculture and mining; and 902 were in other services.
Of the 24,366 employed workers in Cerritos City, 12,645 were males and 11,721 were females. Most of the males worked in the manufacturing industry while most of the females were in the educational, health, and social services industry. Median earnings for full-time year-round male employees were $50,103, while median earnings for full-time year-round female employees were $37,421 in year 1999.
According to the U.S. Census Bureau, there were 15,383 households in year 1999. Out of the total households, only 3.2% had income of at least $200,000. Only 7.1% had an income between $150,000 and $199,999; 19.6% had an income between $100,000 and $149,999; 18.5% had an income between $75,000 and $99,999; 21.4% had an income between $50,000 and $74,999; 11.8% had an income between $35,000 and $49,999; 7.3% had an income between $25,000 and $34,999; 5.8% had an income between $15,000 and $24,999; 1.9% had an income between $10,000 and $14,999; and 3.3% had an income of less than $10,000. For the year 1999, the median household income of Cerritos City households was at $73,030 and the mean earnings were $80,637.
Year 2000 census results also showed that there were 13,639 families. The median family income was $76,944 in year 1999. Most of the families had an income of at least $1,544. About 549 families, or 2,554 individuals, were below the poverty level in year 1999.
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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.