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.
Montebello Area Description
Montebello City has a total population of 61,960 according to the US Bureau of Census. Out of the total population, 45,994 belonged to residents 16 years and over. And there are 37,862 city residents aged 25 and above, and there are 24,353 female 16 years above in Montebello city. And there are 7,495 residents aged 65 and above.
Based on the US census, there are 19,687 students in Montebello city.4.7% are nursery school and pre- school; 5.1% are kindergarten; 42.5% are elementary school (grades 1-8); 22.8% are high school (grades 9-12); 24.9% are college or graduate school. There are 23.9% high school graduates in Montebello, and 10.1% have Bachelor's degree.
According to the same survey result, the city has a total of 25,052 residents that belonged to the labor force, that are at least 16 years old. And out of that number 22,867 are employed, and 2,175 are unemployed. There are about 11,593 female in the labor force and 10,549 are employed.
According to the same survey, there are 14,856 families in Montebello city. About 1,140 families have earnings of less than $10,000; 899 families have earnings of $10,000 to $14,999; 2,230 families have earnings of $15,000 to $24,999; 283 families have earnings of $150,000 to $199,999; and only 195 families have earnings of more than $200,000 and the median family income is $41,257.
And basing on the same survey result, there are 18,851 households in Montebello. And out of the total households, only 10.1% have earned at least $10,000; 6.7% have earned $10,000 to $14,999; 15.4% have earned $15,000 to $24,999; 12.8% have earned $25,000 to $34,999; 17.5% have earned $35,000 to $49,999; 1.7% earned $150,000 to $199,999 and only 1.1% earned more than $200,000.And the median household income is $38,805.
There are about 2,116 families in Montebello that fall below the poverty level.1, 728 families, have children under 18 years old. And there are 904 families that have children under 5 years old.
As per survey results, there are 19,410 housing units in Montebello, 9,354 are single detached units; 1,573 are single attached units; 8,250 are multiple housing units; and 229 are mobile homes. About 37.4% of the housing units are built around 1940 to 1959;23.5% are built around 1960 to 1969;0.4% are built around 1995 to 1998 and only 0.2% are built in 1999 to March 2000.
According to the same survey results, 18,830 are occupied housing units, and there are 580 vacant housing units. Around 7,926 housing units are owner occupied, and 9,842 are renter occupied units. As for the vacant housing units, 77 are for sale and 317 units are for rent.
And out of the total occupied housing units, 5,515 are mortgaged and 2,411 are not mortgaged. Around 2,026 homeowners have a monthly mortgage cost of $1,000 to $1,499; and the median monthly mortgage cost is $1,362.
Of the renter occupied units, 1.6% has a gross rent of less than $200; 1.9% has a gross rent of $200 to $299; 9.4% has a gross rent of $300 to $499; 49.6% has a gross rent of $500 to $749, and only 0.5% has a gross rent of $1,500 or more, while the median gross rent is $698.
While none of the vacant for sale housing units has an asking price of less than $80,000 to $89,999; some have an asking price of $125,000 to $149,999; while most have an asking price of $200,000 to $249,999; while none have an asking price of more than $250,000 to $299,999 and the median asking price is $215,000.
While the vacant for rent housing units have rental of $100 to $149; 1.9% have rental of $450 to $499; 20.5% have rental of $600 to $649; 9.1% have rental of $650 to $699; 8.8% have rental of $700 to $749; And none of the vacant for rent housing units have a rental fee of $1,000 to $1,499.And the median rental fee is $717.
Based on the same census results, 76.3% of the working populations of Montebello city are working in private companies; 17.1% are government workers; 6.1% are self employed; 0.5% is classified as unpaid family workers.
About 32.6% of the working population that are at least 16 years old are into sales and office occupations;25.8% are into management, professional, and related occupations;19.6% are into production, transportation, and material moving occupations;14.4% are into service occupations;7.6% are into construction, extraction, and maintenance occupations;0.1% are into farming, fishing, and forestry occupations.
In terms of industry, most of the working populace is into educational, health and social services.
Out of the 22,867 employed populations in the city, 12,318 are male, and 10,549 are female. And most of the males are into production, transportation, and material moving occupations; while the females are into sales and office occupations. While the median earnings for male, full-time, year-round workers are $30,423 and for female, the median earnings for full-time, year-round workers are $26,590.
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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.