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.
Murrieta Area Description
Murrieta City's population according to the US census is 44,350 and there are 31,123 residents that are at least 16 years of age, of that 16,135 are females. And There are 59,257 residents that are aged 25 and above. And the city has 4,875 residents that are at least 65 years old.
According to the same census, there are 15,160 students in Murrieta City, 6.1% are in nursery, and pre-school; 6.6% are in kindergarten; 48.5% are in elementary school; 21.4% are in high school;17.4% are in college or graduate school. About 24.2% of the population aged 25 are high school graduates, and 15.5% have a bachelor’s degree.
Murrieta City has a labor force of 20,000 which is made up of individuals that are at least 16 years old. And out of the total labor force, 18,850 are employed and about 913 people are unemployed. And there are about 8,831 females that are at least 16 years old that belonged to the labor force, and there are about 8,345 of them that are employed.
According to the same census, there are about 11,811 families in Murrieta City. And 218 families have earnings of less than $ 10,000; 693 families have earned $15,000 to $24,999; 1,015 have earned $25,000 to $34,999; 1,726 have earned $35,000 to $49,999; 447 have earned $150,000 to $199,999; and 318 families have earned $200,000 or more; and the median family income is $65,904
Based on the same census results, Murrieta City has a total 14,325 households. And out of that number, there are 2.4% that have an income of $ 200,000 or more; 3.4% have earned $150,000 to $199,999; 14.2% have earned $100,000 to $149,999; 24.1% have earned $50,000 to $74,999; 9.6% have earned $25,000 to $34,999; 3.4$ have earned $10,000 to $14,999; and only 3.7$ have earned less than $10,000 and the median household income is $60,911 and the mean earnings are $70,935
About 351 families, in Murrieta City fall below the poverty level in 1999.And out of these families, 263 have children that are under 18 years of age, while 139 have children that are under 5 years old.
Based on the census result, there are at least 14,925 total housing units in the city of Murrieta of which 12,505 are single detached units; 211 are single attached units; 1,669 are multiple housing units; and 540 are mobile homes. And about 38.6% of the total housing units are built between 1980 and 1989. Around 4,814 housing units are built from 1990 to 1994, and only 678 are built from 1999 to March 2000.
Of the total housing units, 14,311 are occupied and at least 614 are vacant. And there are about 10,681 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 176 units that are for sale and there are around 209 housing units that are for rent.
And out of the owner-occupied housing units, 9,075 are mortgaged and 1,606 are not mortgaged. And there are around 3,496 homeowners that have a monthly mortgage cost of $1,000 to $1,499.While the median monthly mortgage cost is $1,507.
And out of the total renter-occupied housing units, 1.8% has a gross rent of less than $200; 5.6% have a gross rent of $300 to $499; 30.8% have a gross rent of $500 to $749; and the median gross rent is $842
With regards to the vacant for sale housing units, no unit has an asking price of less than $100,000 to $124,999; some has an asking price of $125,000 to $149,999; others has an asking $150,000 to $174,999; and most has an asking price of $200,000 to $249,999; while no unit has an asking price of higher than $750,000 to $999,999.And the median asking price is $207,600
While the vacant for rent housing units have a rental of at least $350 to $399; About 9.1% have a rental of $700 to $749; 44.5% have a rental of $800 to $899; 15.3% have a rental of $1,000 to $1,499; and 14.4% have a rental of $2,000 and the median rental fee is $854
And according to the survey results, it indicated that 72.7% of the working populace is working for private companies, 17.3% worked for the government, 9.9 % are self-employed, and 0.1% is classified as unpaid family workers.
About 34.6% of the total employed populations who are at least 16 years old are into management, professional, and related occupations; 30.2% are into sales and office occupations; 14.3% are into service occupations; 10.6% are into production, transportation, and material moving occupations; 10.1% are into construction, extraction, and maintenance occupations; 0.2% is into farming, fishing, and forestry occupations;
In terms of industry, majority of the populace of Murrieta City are into manufacturing, educational, health and social services.
Of the employed population in the city, 10,505 are males and 8,345 are females. Most of the males worked as management, professional, and related occupations; and most of the females are into sales and related occupations. And the median earnings for full-time, year-round male employees are $49,107; and the median earnings for full-time, year-round female employees are $32,468.
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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.