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.
San Marino Area Description
San Marino is a City in Los Angeles County, California. And according to the US Bureau of Census its total population is 12,973 and out of the total population, 10,002 residents are at least 16 years old, of which 5,334 are females. And there are about 8,737 residents aged 25 years and over. And there are 2,190 residents who are at least 65 years old.
According to the US Bureau of census, there are 3,997 students in San Marino City. 6.1% are in nursery school and pre-school; 4.2% are in kindergarten; 42% are in elementary school; 24.9% are in high school; 22.8% are in college or graduate school; while only 6.3% of the city’s population aged 25 and above are high school graduates. And 36.7% have Bachelor’s degree.
Basing on the same Census result, there are 5,500 in the labor force, and it comprised of the city's population 16 years and above. And of that figure 5,300 are employed while 200 are unemployed. There are about 2,446 females that belonged to the labor group, and 2,376 of them are employed.
And according to the survey results, there are 3,684 families in San Marino. 111 families are earning less than $10,000; 31 are earning around $15,000 to $24,999; 135 families are earning around $35,000 to $49,999; 525 are earning around $50,000 to $74,999; 715 are earning around $100,000 to $149,999; 462 families are earning around $150,000 to $199,999; and 1,093 families are earning more than $200,000 and the median family income is $125,708.
Based on the same survey results there are 4,274 households in San Marino. Out of the total households, only 4.2% have an income of less than $10,000; 2.1% have an income of $15,000 to $24,999; 4.8% have an income of $35,000 to $49,999; 10.7% have an income of $75,000 to $99,999; 18.6% have an income of $100,000 to $149,999; 12.4% have an income of $150,000 to $199,999; and 27.4% have an income of $200,000 or more. And the median household income is $117,267 and the mean earnings are $163,624.
There are about 136 families that fall below the poverty level in San Marino, 70 families have children below 18 years old, while there are about 20 families that have children under 5 years old.
Based on the same survey results, there are 4,450 total housing units in San Marino. There are 4,414 single detached units; 19 single attached units; 17 multiple housing units; no mobile homes, and around 45.1% of the housing units in San Marino are built around 1940 to 1959; 1,892 housing units are built around 1939 or earlier; 7.1% are built around 1960 to 1969; 2 % are built around 1980 to 1989; 0.7% are built around 1990 to 1994; and 0.1% are built in 1999 to March 2000
With regards to the total housing units built, 4,279 are occupied, and 171 are vacant. Around 3,832 housing units are specified owner occupied units, while 349 housing units are specified renter occupied units. With regards to the vacant housing units, 72 housing units are for sale, and 4 housing units are for rent.
And out of the total owner occupied units, 2,649 are mortgaged, while 1,183 housing units are not mortgaged. And there are 1,990 homeowners that have a monthly mortgage cost of $2,000 or more, and the median monthly mortgage cost is $3,169
With Regards the renter occupied units, 4.3% has a gross rent of $300 to $499; 2.3% has a gross rent of $500 to $749; 5.7% has a gross rent of $750 to $999; 10% has a gross rent of $1,000 to $1,499; and 58.7 has a gross rent of $1,500 or more, and the median monthly rent is $2,000+
And regarding the vacant for sale housing units, none have an asking price of less than $250,000 to $299,999; some have an asking price of $400,000 to $499,999; 65.3% have an asking price of $500,000 to $749,999; and 18.1% have an asking price of $1,000,000 or more, while the median asking price for the vacant for sale housing units is $627,700.
With regards the vacant for rent housing units, there are only 4 that are available for rent. And all the for rent housing units have a gross rent of $2,000 or more and the median monthly gross rent is $2,000+
As per the US Bureau of Census records, 74.9% of the working populace are hired privately, 14.1% are self employed; and 10.2% are government workers, and 0.8% are classified as unpaid family workers.
While 66.1% of the employed population 16 years and above are into management, professional, and related occupations; 26.3% are into sales and office occupations; 3.8% are into service occupations; 2.9% are into production, transportation, and material moving occupations; 0.8% are into construction, extraction, and maintenance occupations; and none are into farming, fishing, and forestry occupations.
In terms of industry, most of the employed population is into educational, health, and social services.
And out of the total employed population of the city of San Marino, 2,924 are male and 2,376 are female. Most of the males are into management, professional and related occupations; while the females are into the same thing, management, professional, and related occupations. And the median earnings for male full-time, year-round workers are $98,928 while the median earnings for female full-time, year-round workers are $49,853.
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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.