Stein Valuation, Inc.
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Following is a typical Appraisal Location description utilized by the Appraiser in analyzing the general area market trends.
La Palma Area Description
La Palma city's population was 15,131 based on the US Bureau of Census. Out of the total population, 12,217 was 16 years and over. And 6,226 were female. And there were 10,335 residents aged 25 years and over. The Census also showed that there were 1,584 residents aged 65 years and over.
According to the US Bureau of Census, there were 4,577 students in La Palma city.6% of which were nursery and pre-school;3.4% were in kindergarten;35.2% were in elementary school (grades 1-8);22.8% were High school (grades 9-12);32.6% were college or graduate school. About 19.9% of the population 25 years and over were high school graduates, and 27% had bachelor's degree.
La Palma city had a labor force of 7,829 which were 16 years and over. Out of that number, 7,405 were employed and 406 were unemployed. There were 3,656 female in the labor force that was 16 years and over and 3,432 were employed.
Based on the Bureau of Census, there were 4,220 families in La Palma. And 138 of these families were earning less than $10,000; 56 were earning $10,000 to $14,999; 199 were earning $15,000 to $24,999; 309 were earning $25,000 to $34,999; 586 were earning $35,000 to $49,999; 830 were earning $50,000 to $74,999; 334 were earning $150,000 to $199,999. And only 124 families earned $200,000 or more. And the median family income was $74,524.
While records at the bureau of Census also showed that there were 4,945 households in La Palma city in 1999.And out of the total households, only 3% had an income of $200,000;7.1% had an income of $150,000 to 199,999;18.9% had an income of $100,000 to $149,999;17.2% had an income of $75,000 to $99,999;20.3% had an income of $50,000 to $74,999;2% had an income of $10,000 to $14,999;and 3.9% had an income of less than $10,000.While the median household income was $68,438, while the mean earnings of the household were $72,961 for 1999.
There were about 4,220 families in La Palma city that fall below the poverty level. Out of these figure, 2,010 families had children less than 18 years of age. And 701 families had children under 5 years old.
As per the US Bureau of Census records, there were 5,071 total housing units in La Palma.3,636 of these units were single detached units;376 single attached units;1,032 multiple housing units; and 27 mobile homes. About 44.7% of the housing units were built around 1970 to 1979; 499 units was built around 1980 to 1989; 5 units were built between 1999 to march 2000.
Out of 5,071 housing units, 4,972 were occupied. And 99 housing units were vacant. And of the total occupied housing units, 3,540 were owner occupied, and 1,278 units were renter occupied. With regards to the vacant housing units, 8 were for sale and 52 were for rent. And out of the total occupied housing units, 2,889 were mortgaged, while 651 units were not mortgaged. Around 910 homeowners had a monthly mortgaged cost of $1,500 to $1,999 While the median monthly mortgaged cost was $1,701.
Out of the 1,278 renter occupied units,0.5% had a gross rent of less than $200;58.7% had a gross rent of $750 to $999;23.7% had a gross rent of $1,000 to $1,499;And only 6.7% had a gross rent of $1,500 or more. While the median gross rent was $955.
All of the 8 specified for sale housing units had an asking price of $200,000 to $249,999.And the median asking price for the specified for sale housing units was $225,000.
while the vacant for rent housing units in La Palma had an asking price of $800 to $899;25% had an asking price of $900 to $999;44.2% had an asking price of $1,000 to $1,499.None of the for rent units had an asking price of $1,500 to $1,999.And the median rental fee was $977.
According to the US Census 2000, 73.1% of the employed populace was privately hired, and 14.9% were working for the government. And 10.8% were self employed, or worked in their own business. While 1.1% were classified as unpaid family workers.
Of the total employed population,16 years and over 44.4% were in management, professional, and related occupations;31.3% were into sales and office occupations;10% were into service occupations;8.5% were into production, transportation, and material moving occupations;5.8% were into construction, extraction, and maintenance occupations; And none were into farming, fishing, and forestry occupations.
In terms of industry, US Census 2000 shows that most of the workers in La Palma were into educational, health, and social services.
Of the 7,405 employed populations, 3,973 were male and 3,432 were female. And most of the working populace male and female was into management, professional, and related occupations.
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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.