Stein Valuation, Inc.
Real Estate Appraisals & Consultation
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.
Santa Monica Area Description
Santa Monica City's population according to the US census is 84,084 and there are 73,115 residents that are at least 16 years of age, of that 38,068 are females. And there are 67,176 residents that are aged 25 and above. And the city has 11,211 residents that are at least 65 years old.
Base on the same census, there are 17,878 students in Santa Monica City, 6.4% are in nursery, and pre- school; 4.1% are in kindergarten; 31.4% are in elementary school (grades 1-8); 15.2% are in high school; and 43% are in college or graduate school,12% of the population aged 25 are high school graduates, and 31.6% have a bachelor’s degree.
Santa Monica City has a labor force of 50,823 which is made up of individuals that are at least 16 years old. And out of the total labor force, 47,059 are employed and about 3,756 people are unemployed. And there are about 24,135 females that are at least 16 years old that belonged to the labor force, and there are about 22,366 of them are employed.
Based on the same census result, there are about 16,934 families in Santa Monica City. And 628 families have earnings of less than $10,000; 534 families have earned $10,000 to $14,999; 1,454 families have earned $25,000 to $34,999; 1,981 have earned $35,000 to $49,999; 2,156 have earned $75,000 to $99,999; 2,612 have earned $100,000 to $149,999; 1,363 have earned $150,000 to $199,999; 2,454 have earned $200,000 or more; and the median family income is $75,989
According to the same census results, Santa Monica City has a total 44,503 households. And 7.8% of those households have an income of $200,000 or more; 4.6% have earned of $150,000 to $199,999; 10.3% have earned $75,000 to $99,999; 16.9% have earned $50,000 to $74,999; 13.9% have earned $35,000 to $49,999; 9.9% have earned $25,000 to $34,999; and the median household income is $50,714 and the mean earnings are $79,890.
There are about 911 families, in Santa Monica City that fall below the poverty level in 1999. And out of these families, at leas 643 have children that are under 18 years of age, while 229 have children that are under 5 years old.
And according to the same census result, there are at least 47,863 housing units in Santa Monica of which 9,265 are single detached units; 1,928 are single attached units; 36,381 are multiple housing units; and 266 are mobile homes. And 31% of the housing units are built around 1940 to 1959; 22.2% are built around 1960 to 1969; while around 732 units are built around 1995 to 1998; and 545 are built around 1999 to March 2000.
Of the total housing units, 44,497 are occupied, and at least 3,366 are vacant. And there are about 31,215 housing units that are owner occupied, and there are 2,807 housing units that are renter-occupied. With regards to the vacant housing units, there are 95 units that are for sale, and there are around 1,345 housing units that are for rent.
And out of the owner-occupied housing units, 5,593 are mortgaged and 2,136 are not mortgaged. And there are around 3,885 homeowners that have a monthly mortgage cost of $2,000 or more. While the median monthly mortgage cost is $2,726
And out of the total renter-occupied housing units, 0.4% has a gross rent of less than $100; 0.8% has a gross rent of $100 to $149; 5.6% has a gross rent of $350 to $399; 5.9% has a gross rent of $500 to $549; 7.2% has a gross rent of $600 to $649; 4.8% has a gross rent of $800 to $899; 17.8% has a gross rent of $1,000 to $1,499; 9.4% has a gross rent of $1,500 to $1,999;21.6% has a gross rent of $2,000 or more. And the median gross rent is $983
With regards to the vacant for sale housing units, no unit has an asking price of less than $200,000 to $249,999; some has an asking price of $400,000 to $499,999; some has an asking price of $500,000 to $749,999; and 20 units has an asking price of $1,000,000 or more, and the median asking price is $470,800
While the vacant for rent housing units have a rental of at least $100; 0.8% has a rental of $100 to $149; 1.4% has a rental of $250 to $299; 5.9% has a rental of $500 to $549; 7.2% has a rental of $600 to $649; 6.6% has a rental of $900 to $999; while 21.6% has a rental of $2,000 or more, and the median rental fee is $983.
And as per the survey results, it indicated that 72.4% of the working populace is working for private companies, 10.3% worked for the government, 15 % are self-employed, and 0.5% is classified as unpaid family workers.
About 60.3% of the total employed populations who are at least 16 years old are into management, professional, and related occupations; 23.3% are into sales and office occupations; 9.4% are into service occupations; 3.7% are into production, transportation, and material moving occupations; 3.3% are into construction, extraction, and maintenance occupations. None are into farming, fishing, and forestry occupations.
In terms of industry, majority of the populace of Santa Monica City are into educational, health and social services.
Of the employed population in the city, 24,693 are males and 22,366 are females. Most of the males worked as management, professional, and related occupations; and most of the females are into the same field as the male. And the median earnings for full-time, year-round male employees are $55,689; and the median earnings for full-time, year-round female employees are $42,948.
Copyright ©2005 – 2006, Stein Valuation, Inc.
All Rights Reserved.
No portion of this page, text, images or code, may be copied, reproduced, published or distributed in any medium without the expressed written permission of the copyright holder.
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.