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.
Vernon Area Description
Vernon City is arguably California's least populated city. According to the U.S. census results for the year 2000, Vernon City only had 94 residents. Sixty of those residents were at least 15 years old. Out of the total population, 44 residents were age 25 and above and only three were at least 65 years old. Around 47% of the 85 residents that were at least five years old spoke Spanish, and 53% spoke English only in their homes.
Census results also show that out of the 60 city residents that were at least 16 years old, 13 were never married and 47 were married but separated.
Out of the 58 city residents that were at least 16 years of age, 38 belonged to the city's labor force, and all of them were employed. There were no unemployed residents in the city, based on census results for the year 2000. About 37% of the workers were hired by private companies and 63% worked for the government. There were no self-employed residents in Vernon City.
Most of the working population had sales and office support jobs; service occupations; and construction, extraction, and maintenance occupations. In terms of industry, most of the working residents belonged in the educational, health and social services; public administration; or construction industries. None of the city's residents were in agriculture, forestry, fishing and hunting, and mining; manufacturing; or arts, entertainment, recreation, accommodation and food services industries.
Of the 38 employed workers in the city, 21 were males and 17 were females. Most of the males worked in public administration while most of the females were in the educational, health, and social services industry. Median earnings for full-time, year-round male employees were $46,250, while median earnings for full-time, year-round female employees were $33,750 in year 1999.
Based on U.S. Census results for the year 2000, the city had 41 students. The same census results show that 15 of the city's students were in elementary school; 12 were in high school; 8 were in college or graduate school; and 6 were in kindergarten. About 59% of the city's population aged 25 and above were high school graduates, but only 18% had a bachelor's degree or higher.
There were 21 housing units in all in the city. About 73% of the total housing units were single-detached. There were no single-attached housing units or mobile homes. The rest were multiple housing units. Nearly all the housing structures were built before 1980. Only three housing structures were built from 1980 to March 2000.
There were 25 occupied housing units in the city and no vacant housing units. There was only one owner-occupied housing unit, according to census results for the year 2000. The lone owner-occupied unit was valued between $200,000 and $299,999, and had monthly mortgage costs between $1,500 and $1,999.
The city's census results for the year 2000 also indicate that there were 21 renter-occupied housing units, majority of which had gross rental fees between $200 and $499. Only two of the housing units had gross rent of less than $200, and four had gross rent between $750 and $1,499. None of the housing units were for rent for at least $1,500. The median gross rent was $289.
Records of the U.S. Census Bureau indicate that there were 24 households in 1999. Out of the total households, none had income of at least $150,000; 16.7% had income between $100,000 and $149,999; 16.7% had income between $75,000 and $99,999; 33.3% had income between $50,000 and $74,999; 16.7% had income between $35,000 and $49,999; 8.3% had income between $25,000 and $34,999; 8.3% had income between $15,000 and $24,999; and none had income below $15,000. For the year 1999, the median income of Vernon City households was $60,000 while mean earnings were $63,642.
All Vernon City households had vehicles. Six households had one vehicle, 13 had two vehicles, and another 6 had three or more available vehicles.
The city's records also indicate that there were two households with mean Social Security income of $15,700, and another two households with mean retirement income of $12,500.
Year 2000 census results also show that there were 22 families in Vernon City. None of the families had income below $25,000; 9.1% had income between $25,000 and $34,999; 18.2% had income between $35,000 and $49,999; 36.4% had income between $50,000 and $74,999; 18.2% had income between $75,000 and $99,999; and another 18.2% had income between $100,000 and $149,999. None of the families had income of at least $150,000. Vernon City's median family income was $63,750 in 1999. There were no families or individuals that were below the poverty level.
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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.