Stein Valuation, Inc.

Real Estate Appraisals & Consultation

Phone 1-800-906-8141

 

 

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. 

Norwalk Area Description

Norwalk city's population according to the US census is 103,223 and there are 73,541 residents that are at least 16 years of age, of that 37,636 are females. And There are 59,257 residents that are aged 25 and above. And the city has 8,870 residents that are at least 65 years old.

According to the same census, there are 33,920 students in Norwalk City, 46.4% of which are in elementary school; 20.5% are in college or graduate school; 22.7% are in high school; 5.5% are in kindergarten; and 5% are in nursery or pre-school. There are about 26.5% of City's population that are aged 25 that are high school graduates but only 8.1% have a bachelor's degree or higher.

Norwalk city have a labor force of 42,846 which is made up of individuals that are at least 16 years old. And out of the total labor force, 39,231 are employed and about 3,551 people are unemployed. And there are about 18,827 females that are at least 16 years old that belonged to the labor force, and there are about 17,265 of them that are employed.

According to the same census, there are about 22,618 families in Norwalk city. Of that 963 have earnings of less than $10,000; 2,634 families have earned $15,000 to $24,999; 3,022 families have earned $25,000 to $34,999; 4,272 families have earned $35,000 to $49,999; 245 families have earned $150,000 to $199,999; and about 175 families have earned $200,000 or more. While the median family income is $47,524

Based on the same census results, Norwalk City has a total of 26,930 households in 1999.And Out of the total number, there are about 0.8% that have an income of at least $200,000; 1.1% have earned between $150,000 and $199,999; 6.9% have earned between $100,000 and $149,999; 11.7% have earned between $75,000 and $99,999; 25% have earned between $50,000 and $74,999; 19% have earned between $35,000 and $49,999; 12.6% have earned between $25,000 and $34,999; 12.4% have earned between $15,000 and $24,999; 4.9% have earned between $10,000 and $14,999; and 5.6% that earned less than $10,000. For the year 1999, and the median income of Norwalk City households is $45,667 and the mean earnings are $52,858

About 2,154 families, in Norwalk city fall below the poverty level in 1999.And out of these families, 1,836 have children that are under 18 years of age, while 1,005 have children that are under 5 years old.

According to the US Bureau of census, there are at least 27,554 total housing units in the city of Norwalk of which 20,197 are single detached units; 1,412 are single attached units; 5,490 are multiple housing units; and 431 are mobile homes. And about 59.1% of the total housing units are built between 1940 and 1959. Around 1,915 housing units are built from 1980 to 1989, but only 69 are built from 1990 to March 2000.

Out of the total housing units, 26,894 are occupied and at least 660 are vacant. And there are about 16,573 housing units that are owner occupied, and there are 9,179 housing units that are renter-occupied. With regards to the vacant housing units, there are 310 units that are for sale and there are around 193 housing units that are for rent.

And out of the owner-occupied housing units, 13,096 are mortgaged and around 3,477 are not mortgaged. And there are around 6,600 homeowners that have a monthly mortgage cost of $1,000 to $1,499.while the median monthly mortgage cost was $1,296.

And out of the total renter-occupied housing units, 1.6% has a gross rent of less than $200; 37.1% have a gross rent of $500 to $749; 29.7% have a gross rent between $750 and $999; and there is about 0.8% that has a gross rent of $1,500 or more. While the median gross rent is $767.

With regards to the vacant for sale housing units 1.3% have an asking price of less than $20,000. Some of the vacant housing units have an asking price between $100,000 and $124,999. While most have an asking price of $150.000 to $174,999; some have an asking price of $125,000 to $149,999; while none have an asking price of more than $175,000 to $199,999; and the median asking price for the vacant for sale housing units is $156,600

While the vacant for rent housing units have a rental of at least $200 to $249; about 4.7% of the vacant for rent housing units in Norwalk City are for rent between $400 and $449, 6.2% are for rent around $450 to $499, and 2.1% are for rent around $550 to $599. None of the vacant housing units are for rent above $1,500. And the median rental fee was $812

According to the survey results, it indicated that 81.7% of the working populace is working for private companies, 12.6% worked for the government, 5.5% are self-employed, and 0.2% is classified as unpaid family workers.

About 30% of the total employed population who are at least 16 years old are into sales and office occupations; 23.2% are into production, transportation, and material moving occupations,21.1% are into management, professional, and related occupations; 10.7% are into construction, extraction, and maintenance occupations;15% are into service occupations; and 0.1% are into farming, fishing, and forestry occupations.

In terms of industry, majority of the populace of Norwalk City are into the manufacturing and educational, health and social services.

Of the employed population in the city, 21,966 are males and 17,265 are females. Most of the males worked in production, transportation, and material moving occupations, while most of the females are into sales, and office occupations. While the median earnings for full-time year-round male employees were $31,579 and the median earnings for full-time year-round female employees were $26,047 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.