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.
Costa Mesa Area Description
Costa Mesa City's population totaled 108,785, according to the U.S. Census Bureau's official census in year 2000. Out of the total population, 85,946 residents were at least 16 years of age, of which 42,021 were females. There were 71,622 city residents aged 25 and above. Records also indicate that the city had 8,885 residents that were at least 65 years old.
According to the same census results, there were 30,752 students in Costa Mesa City, 36.7% of which were in elementary school; 34.7% were in college or graduate school; 17.2% were in high school; 5.7% were in nursery or pre-school; and 5.6% were in kindergarten. Only 79.1% of the city's population aged 25 and above were high school graduates but only 29.1% had a bachelor's degree or higher.
Costa Mesa City's labor force totaled 59,493, based on census results for the year 2000. Out of the 85,946 residents that were at least 16 years old, 56,681 were employed and 2,775 were unemployed. About 25,901 females that were at least 16 years old belonged to the labor force, of which 24,670 were employed.
Employment results of the year 2000 census indicate that 45,613 employees worked for private companies; 5,129 worked for the government; and 5,790 were self-employed. Most of the employed residents had management, professional, and related occupations, and sales and office occupations. In terms of industry, records show that the most of the employed populace of Costa Mesa City were in the professional, scientific, management, administrative, and waste management services; educational, health and social services; and manufacturing industries.
Of the 56,681 employed workers in the city, 32,011 were males and 24,670 were females. Most of the males worked in the manufacturing and professional, scientific, management, administrative, and waste management services 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 $38,670, while median earnings for full-time, year-round female employees were $32,365 in year 1999.
Records of the U.S. Census Bureau also show that there were 39,207 households in Costa Mesa City in year 1999. Out of the total households, only 2.6% had income of at least $200,000; 3.1% earned between $150,000 and $199,999; 10.3% earned between $100,000 and $149,999; 12.5% earned between $75,000 and $99,999; 22.5% earned between $50,000 and $74,999; 17.2% earned between $35,000 and $49,999; 11.3% earned between $25,000 and $34,999; 10.1% earned between $15,000 and $24,999; 4.4% earned between $10,000 and $14,999; and 6.0% earned less than $10,000. For the year 1999, the median income of Costa Mesa City households was $50,732 while mean earnings were $62,904.
Year 2000 census results also identified 23,108 families in Costa Mesa City. About 900 families had earnings of less than $10,000; 9,458 families earned $10,000 to $49,999; 8,331 earned $50,000 to $99,999; 2,798 earned $100,000 to $149,999; 886 earned $150,000 to $199,999; and 735 earned $200,000 or more. The median family income was $55,456.
About 1,892 families, or 13,393 individuals, were below the poverty level in 1999. Out of these 1,892 families, 1,549 had children under 18 years of age, and 843 had children under 5 years old.
As per the U.S. Census 2000 results, there were 40,399 housing units in the city, 15,347 of which were single-unit detached; 4,116 were single-unit attached; 19,723 were multiple housing units; and 1,141 were mobile homes. Most of the housing structures were built between 1940 and 1979. Around 8,720 housing units were built between 1980 and 1994. Less than 1,000 housing structures were built between 1995 and March 2000.
Out of the total housing units, 39,188 were occupied and at least 870 were vacant. About 13,503 of the occupied housing units were owner-occupied and 23,372 were renter-occupied. As for the vacant housing units, 150 were for sale while 720 were for rent.
Out of the 13,503 owner-occupied units, 10,878 had mortgage while 2,620 had no mortgage. Around 2,900 owners had monthly mortgage between $1,000 and $1,499; 3,400 had monthly mortgage between $1,500 and $1,999; and 3,072 had monthly mortgage of at least $2,000. The median monthly mortgage cost was $1,652.
Out of the 23,372 renter-occupied units, 0.6% had gross rent of less than $200; 39.3% had gross rent of $750 to $999; 35.8% had gross rent of $1,000 to $1,499; and only 6.1% had gross rent of $1,500 or more. The median gross rent was $956.
None of the vacant housing units were sold below $150,000. Most of the vacant housing units had price range of $200,000 to $399,999. None of the housing units were sold above $999,999. The median asking price was $233,300.
The vacant housing units available had rental of at least $150. About 50.2% of the vacant housing units in Costa Mesa City were for rent for $1,000 to $1,499; 17.7% were for rent for $900 to $999; and 8.1% were for rent for $1,500 to $1,999. None of the vacant housing units were for rent above $2,000. The median rental fee was $1,052, according to the year 2000 census results.
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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.