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.
Covina Area Description
The U.S. Census Bureau’s official census in year 2000 showed that Covina City had an overall population of 47,144. Out of the total population, 35,293 residents were at least 16 years of age, of which 18,877 were females. There were 29,422 city residents aged 25 and above.
Based on U.S. Census results for the year 2000, there were 14,763 students in the city who were at least three years old. Around 6,360 students were in elementary school; 3,948 were in college or graduate school; 2,937 were in high school; 773 were in nursery or preschool; and also 744 were in kindergarten. About 81.9% of Covina City's population aged 25 and above were high school graduates but only 18.8% had bachelor's degree or higher.
As per the U.S. Census 2000 results, Covina City residents lived in 16,430 housing units. About 9,371 of the housing units were single-unit detached units; 1,302 were single-unit attached units; 5,167 were multiple housing units; and 581 were mobile homes.
There were 16,023 occupied housing units in Covina City and at least 250 vacant housing units, based on year 2000 census results. About 81 of the vacant housing units were for sale and 169 were for rent.
Few housing units were being sold at the $25,000-$29,999 range. Most of the housing units had price tags of either $175,000 to $199,999 or $250,000 to $299,999. None of the housing units were sold above $300,000. The median asking price was $192,200.
The vacant housing units were for rent for at least $550 to $599. A considerable number were for rent at the $600 to $899 price range, but most—at 36.7%—were for rent for at least $1,000 and at most $1,499. None of the housing units were for rent above $1,500. The median rental fee was $855, according to the year 2000 census.
Covina City had a total labor force of 22,768, comprised of members of the population of at least 16 years of age. Out of these 22,768 residents, 21,459 were employed and only 1,297 were unemployed. About 11,002 females who were at least 16 years old comprised the city's labor force. About 10,370 females were employed.
The 2000 census results also showed that 16,733 workers were hired by private companies; 3,460 worked for the government; and 1,228 were self-employed. About 6,827 of the total employed population who were at least 16 years old had sales and office occupations; 6,553 had management, professional, and related occupations; 3,075 had service jobs; 2,933 had production, transportation, and material moving jobs; 2,011 had construction and maintenance occupations; and none had farming, fishing, and forestry jobs.
By industry, 21.3% of the employed residents worked for the educational, health and social services industry; 13.4% were in manufacturing; 12.2% were in retail trade; 9.3% were in the professional, scientific, management, administrative, and waste management services; 7.7% were in the finance, insurance, real estate, and rental and leasing industry; 6.5% were in the arts, entertainment, recreation, accommodation and food services; 6.4% were in construction; 6.0% in transportation and warehousing, and utilities; 4.8% were in public administration; 4.7% were in wholesale trade; 3.4% in the information industry; 0.1% in agriculture; and 4.1% in other services.
Of the 21,459 employed workers in the city, 11,090 were males and 10,369 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 $40,687, while median earnings for full-time year-round female employees were $32,329 in year 1999.
According to the U.S. Census Bureau, there were 15,953 households in 1999. Out of the total households, only 1.3% had an income of at least $200,000; 2.0% had an income between $150,000 and $199,999; 10.3% had income of between $100,000 and $149,999; 12.8% had income of between $75,000 and $99,999; 22.1% had income of between $50,000 and $74,999; 15.9% had income of between $35,000 and $49,999; 12.1% had income of between $25,000 and $34,999; 10.6% had income of between $15,000 and $24,999; 5.2% had income of between $10,000 and $14,999; and 7.7% had income of less than $10,000. For the year 1999, the median household income of Covina City households was $48,474 and the mean earnings were $56,971.
The year 2000 census results also showed that there were 11,897 families in Covina City. The median family income was $55,111. Around 23.8% of the families had income of at least $50,000, and only 1.5% had income of at least $200,000. Only 4.9% of the total number of families earned less than $10,000. About 1,055 families, or 5,408 individuals, were below the poverty level in 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.