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.
Monterey Park Area Description
Monterey Park city has a total population of 59,933 according to the US Bureau of Census. Of the city's total population, 48,754 belonged to residents 16 years and above. And out of that number, 25,912 are females. There are 42,271 residents that are 25 and above. And there are at least 10,645 residents who are 65 years old.
And according to the same census results, there are at least 16,713 students in Monterey PArk.4.7% of which are nursery school and pre-school; 4.4% are kindregarten; 36.7% are elementary school; (grades 1-8) 19.7% are high school (grades 9-12);34.6% are college or graduate school. There is about 20.3% of Monterey's population aged 25 and above that are high school graduates, and 17.7% has Bachelor's degree.
Based on the same census result, there are 25,794 people who belong to the labor force of Monterey, who are at least 16 years old. And out of that labor force 24,270 are employed, and 1,497 are unemployed. Around 12,144 who belonged to the labor force are female who are at least 16 years old. And the number of the employed females 16 years and over is 11,500.
According to the same census results, there are 15,378 families in Monterey Park, about 1,123 families are earning less than $10,000; 900 families are earning $10,000 to $14,999; 2,055 families are earning $15,000 to $24,999; 1,923 families are earning $25,000 to $34,999; 2,769 families are earning $50,000 to $74,999; 1,525 families are earning $100,000 to $149,999; and only 302 families are earning $200,000 or more, while the median family income is $43,507.
The same survey result shows that there are 19,563 households in Monterey Park. And out of the total households,10.3% have an income of less than $10,000;6.3% have an income of $10,000 to $14,999;13.9% have an income of $15,000 to $24,999;12.9% have an income of $25,000 to $34,999;16.2% have an income of $35,000 to $49,999;17.5% have an income of $50,000 to $74,999;8.5% have an income of $100,000 to $149,999;1.9% have an income of $150,000 to $199,999;and also 1.9% have an income of $200,000 or more, and the median household income is $40,724.
Based on the same survey result, there are 1,903 families that fall below the poverty level. Out of this number, 1,353 families have children less than 18 years of age. And around 478 families that have children under 5 years old.
And according to the same survey result, there are 20,177 total housing units in Monterey Park.11, 461 are single detached; 2,203 are single attached; 6,433 are multiple housing units; and 73 mobile homes.42.6% of the housing units are built around 1940 to 1959; 15.2% are built around 1970 to 1979; 1.9% are built around 1995 to 1998; and 0.9% are built in 1999 to March 2000.
Of the total housing units, 19,531 are occupied housing units. And there are 646 housing units that are vacant. And around 9,458 units are owner occupied units; and 8,959 units are specified renter occupied units. As for the vacant for sale housing units there are 174 units available, as for the vacant for rent housing units, there are 227 units.
Of the total owner occupied units, 5,927 housing units are mortgaged, while 3,531 are not mortgaged. There are 1,875 homeowners that have a monthly mortgage cost of $1,000 to $1,499; 157 homeowners have a monthly mortgage cost of $3,000 or more, and the median monthly mortgage cost is $1,413.
And out of the total renter occupied housing units, 9.7% have a rental of $500 to $549; 7% have a rental of $550 to $599; 2.6% have a rental of $650 to $699; 8.8% have a rental of $800 to $899; 1.5% has a rental of $1,000 to $1,499; while the median rental fee is $766.
With regards to the for sale vacant housing units, none have an asking price of less than $90,000 to $99,999; some have an asking price of $125,000 to $149,999; others have an asking price of $200,000 to $249,999; some have an asking price of $250,000 to $299,999; while the highest asking price is $400,000 to $499,999.while the median asking price for the vacant for sale housing units is $201,800.
While the vacant for rent housing units have a rental of at least $500 to $549; 14.1% have a rental of $600 to $649; 2.6% have a rental of $650 to $699; 8.8% have a rental of $750 to $799; 20.3% have a rental of $900 to $999; and 15% have a rental of $1,000 to $1,499; and the median rental fee is $766.
According to the survey results, 77.5% of the working populations are hired privately; 14.3% are government workers; 7.6% are self employed; and 0.7 are classified as unpaid family workers.
About 34.3% of the total working population aged 16 years and above are into management, professional, and related occupations;31.6% are into sales and office occupations;15.1% are into service occupations;14% are into production, transportation, and material moving occupations;4.9% are into construction, extraction, and maintenance occupations.
In terms of industry, majority of the working population are into educational, health, and social services.
Of the employed workers, of Monterey Park, 12,770 are males, and 11,500 are females. Most of the males are into management, professional, and related occupations. And the females are into, sales, and office occupations.
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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.