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.
Newport Beach Area Description
As of the 2000 report of the US Census Bureau, Newport Beach City had a total population of 70,032. Out of that, 15.7% are under the 18 years old, 6.5% are aged 18 to 24, 33% belong to the age range of 25 to 44, and 27.2% points to a group of people in Newport Beach whose ages range from 45 to 64. The aged populace of the city, 65 years old and above, make up 17.6% of the total population count.
According to the US Census Bureau, 15,130 in Newport Beach City are students, as of its latest report. Based on that number, 36.8% are either in college or in the graduate school; 34.5% are enrolled in the elementary school (Grades 1-8); 16.3% are in high school (Grades 9-12); 7.5% are enrolled pre-schoolers; and the last 4.9% are in kindergarten. Based on the same survey, only 9.6% of the population is made up of high school graduates. A remarkable 37.1% are identified to be holders of a Bachelor's Degree.
In terms of employment of the registered residents of Newport Beach, aged16 years old and over, 38,316 are identified to be employed, inclusive of members of both genders: male and female. Out of the said number, 22,115 are male and 16,201 are female.
Majority of the workers are into sales and office occupations which total to 11,143. Out of this number, 5,714 are males and 5,429 are females. Those who are into management, business, and financial operations industries are reported to have reached 12,062. Out of this figure, 7,936 are male and 4,126 are females. Interestingly, only 29 are identified to be in the farming, fishing, and forestry industries. Out of this small group of income-earners, 17 are males and 12 are females.
Majority of the workers are hired by privately-owned corporations. This amounts to a 77.2% while those who are connected with the government are pegged at 9%. The rest of the employed population are self-employed and or are engaged in their own businesses. This group of people make up 13.1% of the whole population of employed people in Newport Beach City.
The number of households in Newport Beach City was 33,148 as per US Bureau of Census, and the income of the majority of the household was $200,000 or more for a total of 5,828 household with a percentage of 17.6%, followed by 100,000 to 149,000 for a total of 5,538 household and a percentage of 16.7%. Some had income between 50,000 to 74,999 for a total of 5,368 household and a percentage of 16.2%. Other household had an income of 75,000 to 99,999 for a total 4,093 or a total of 12.3%. Some had 10,000 to 14,999 for a total of 977 household and a percentage of 2.9%. And other household were earning less that $10,000 for a total of 1,348 household or 4.1% while the median household income (dollars) was 83,455 per household, and the mean earnings were 122,372.
Newport Beach City had a total of 37,336 total housing units, of which 16,115 were 1-unit, detached, 6,694 were 1-unit attached, a couple of thousand were multiple housing units, 806 mobile homes. Of these, 33,094 housing units were occupied. 26.4% of the housing units were built around 1970 to 1979, while 24.4% of the housing units were built around 1980-2000, beyond that no housing units were built.
Of the total 37,336 housing units that were built, 33,094 were occupied. And 4,242 were unoccupied. Of that 74.5% or 11,804 were mortgaged and 25.5% of the housing is not mortgaged. And a total of 55.7% were paying $2,000 or more, and only 6.6% were paying between $1,000 to 1,499. While the median for the mortgage units was $3,071.
Of all the housing units built, 7,280 were renter occupied. The gross rent was 40.4% or 2,944 units were rented out for $750 to $999 per month. Another 28.9% or 2,101 unit was also rented out for $1,000 to $1,499.Then still other units were rented out for $500 to $749 for a total of 1,120 units or 15.4%. Only 0.8% or 58 units were rented out for less than $200 a month. And the median gross rent per unit was $916.
The value of the owner occupied units which totaled 10,766, or 46.6% of which had a value of $300,000 to $499,999. Others were valued at $150,000 to 199,999 or a total of 4.6% Still some occupied units were valued at $100,000 to 149,999 or 1.2%. The number of units that were valued for less than $50,000 was only 40 or with a percentage of 0.4% And the number of units that were valued for $1,000,000 or more was only 199 units or 1.8%.
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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.