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.
Rancho Cucamonga Area Description
Rancho Cucamonga City, with a total population of 128,161, had 96,563 residents aged 15 and above. The U.S. Census Bureau's results for the year 2000 also show that the city had 77,297 residents that were at least 25 years and 7,739 residents that were at least 65 years old.
Out of the 42,875 students in the city that were at least three years old, 2,122 were in nursery schools or preschools; 2,135 in kindergarten; 18,691in elementary school; 9,234 in high school; and 10,693 in college or graduate school. The U.S. census results for the year 2000 also indicate that 86.0% of the city's population aged 25 and above were high school graduates, but only 23.3% had a bachelor's degree or higher.
Census results show that there were 41,067 households in the city. Only 2.4% of the total number of households had income of at least $200,000; 3.9% had income of between $150,000 and $199,999; 14.6% had income of between $100,000 and $149,999; 16.3% had income of between $75,000 and $99,999; 24.1% had income of between $50,000 and $74,999; 14.9% had income of between $35,000 and $49,999; 8.9% had income of between $25,000 and $34,999; 7.3% had income of between $15,000 and $24,999; 3.2% had income of between $10,000 and $14,999; and 4.4% had income of less than $10,000. For the year 1999, the median income of Rancho Cucamonga City households was $60,931 while mean earnings were $70,945.
There were 32,271 families in the city, according to census results for the year 2000. About 2.7% of the total number of families had income of less than $10,000; 2.2% had income of from $10,000 to $14,999; 6.1% had income from $15,000 to $24,999; 7.5% had income from $25,000 to $34,999; 13.9% had income from $35,000 to $49,999; 25.5% had income from $50,000 to $74,999; 18.7% had income from $75,000 to $99,999; 16.4% had income from $100,000 to $149,999; 4.2% had income from $150,000 to $199,999; and only 2.7% had income from $200,000 or more. The median family income was $66,446. From the total number of families, 1,574 were below the poverty level in 1999, of which 1,200 had children under 18 years of age.
The city's housing units totaled 42,229, of which 69.4% were single-detached units; 6.0% were single-attached units, 3.2% were mobile homes, and the rest were multiple housing units. Most of the housing units were built during 1970 to 1989. Around 8,100 housing units were built from 1990 to 1998. There were 985 housing structures built during 1999 to March 2000.
There were 40,976 occupied housing units in the city and nearly 870 vacant housing units, based on year 2000 census results. About 370 of the vacant housing units were for sale and 500 were for rent. Records also indicate that 1,753 households had no vehicles; 10,958 had one vehicle; 18,198 had two vehicles; and 10,067 had three or more available vehicles.
Out of the 26,092 owner-occupied units, 24,089 had mortgage while 2,003 had no mortgage. Around 15,800 owners had mortgage between $1,000 to $1,999. The median monthly owner cost was $1,520. One hundred twenty-one owner-occupied housing units were worth less than $50,000; 790 were worth $50,000 to $99,999; 6,015 were worth $100,000 to $149,999; 8,857 were worth $150,000 to $199,999; 7,043 were worth $200,000 to $299,999; but only 25 were worth at least $1,000,000. Median value of the owner-occupied units was $182,200.
Out of the 12,136 renter-occupied units, only 0.4% had gross rent of less than $200; 4.2% had gross rent of $300 to $499; 23.3% had gross rent of $500 to $749; 38.1% had gross rent of $750 to $999; 27.3% had gross rent of $1,000 to $1,499; and only 3.4% had gross rent of $1,500 or more. The median gross rent was $872.
The selling price for the vacant housing units was at least $35,000, but most of the vacant housing units were for sale at the $125,000-$299,999 price range. None of the housing units were sold above $749,999. The median asking price was $189,100.
Rental for the vacant housing units was at least $300. Most were for rent at the $800-$899 or $1,000-$1,499 ranges. None of the vacant housing units were for rent above $1,500. The median rental fee was $785, according to the year 2000 census.
Rancho Cucamonga City had a total labor force of 65,509, consisting of residents aged 16 years and above. Out of the total labor force, 61,950 were employed and 3,532 were unemployed. Of the total number of employed workers, 33,139 were males and 28,811 were females. Most of the males worked in the manufacturing and retail trade industries while most of the females were in the educational, health, and social services industry. Median earnings for full-time, year-round male employees were $47,363, while median earnings for full-time, year-round female employees were $32,113 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.