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.
Culver City Area Description
According to the U.S. Census Bureau's official census in year 2000, Culver City had a population of 38,816. Out of the total population, 31,572 residents were at least 16 years of age, of which 17,158 were females. There were 28,340 city residents aged 25 and above.
Records on education show that in the year 2000, there were 3,955 enrollees for elementary schools; 2,865 in colleges and universities; 1,765 in high schools; 609 in nursery schools or pre-schools; and 549 in kindergarten. About 87.2% of Culver City's population aged 25 and above were high school graduates, but only 41.2% had a bachelor's degree or higher.
Of the total number of residents in Culver City, 17,130 lived in housing units, 6,605 of which were single-detached housing units and 1,903 were single-attached housing units. Around 8,400 were multiple housing units. There were also 181 mobile homes.
There were 16,611 occupied housing units in Culver City and at least 300 vacant housing units, based on year 2000 census results. About 120 of the vacant housing units were for sale and 180 were for rent.
The asking price for the housing units was at least $90,000. Most of the housing units were for sale between $300,000 and $399,999. None of the housing units were sold above $749,999. The median asking price was $333,600.
The vacant housing units were for rent for at least $450, but most were for rent at the $1,000-$1,499 range. There were also a considerable number that had rental fees between $1,500 and $1,999. Very few had rent of at least $2,000. The median rental fee was $1,135, according to the year 2000 census.
Culver City's total labor force was at 21,448, according to the census results for the year 2000. Out of the 31,572 Culver City residents that were at least 16 years old, 20,285 were employed and only 1,153 were unemployed. The total labor force was comprised of 10,700 females, around 10,300 of them were employed.
The U.S. Census Bureau's year 2000 census results show that majority of the workers at 73.1% were hired by private companies; 15.2% worked for the government; and 11.4% were self-employed. About 0.3% were categorized as unpaid family workers.
About 49.8% of the total employed population who were at least 16 years old had management, professional, and related occupations; 27.3% had sales and office occupations; 11.5% had service occupations; 6.0% had production, transportation, and material moving occupations; 5.4% had construction, extraction, and maintenance occupations; and none had farming, fishing, and forestry occupations.
In terms of industry, 22.1% were in the educational, health and social services industry; 18.2% were in professional, scientific, management, administrative, and waste management services; 9.5% were in retail trade; 8.4% were in the information industry; 7.8% were in the arts, entertainment, recreation, accommodation and food services; 7.4% were in manufacturing; 7.2% were in finance, insurance, real estate, and rental and leasing; 4.9% were in transportation and warehousing, and utilities; 3.4% were in construction; 2.8% were in wholesale trade; 2.7% in public administration; 0.1% in agriculture; and 5.6% were in other services.
Of the 20,285 employed workers in the city that were at least 16 years old, 9,998 were males and 10,287 were females. Most of the males worked in the professional, scientific, management, administrative, and waste management services 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 $46,683, while median earnings for full-time year-round female employees were $41,478 in year 1999.
Records of the U.S. Census Bureau showed that there were 16,636 households in 1999. Out of the total households, only 3.1% had an income of at least $200,000; 3.4% had an income between $150,000 and $199,999; 12.2% had an income between $100,000 and $149,999; 12.3% had an income between $75,000 and $99,999; 21.6% had income between $50,000 and $74,999; 17.3% had an income between $35,000 and $49,999; 11.5% had an income between $25,000 and $34,999; 8.3% had an income between $15,000 and $24,999; 4.1% had an income between $10,000 and $14,999; and 6.2% had an income less than $10,000. For the year 1999, the median household income of Culver City households was $51,792 while mean earnings were $66,488.
The year 2000 census results further showed that there were 9,529 families in Culver City. The city's median family income was $61,451. Most of the families had an income of at least $25,000 and at most $149,999. Only 5.5% of the total number of families had an income of at least $150,000 and 3.7% earn $200,000 or more. About 528 families, or 3,308 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.