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.
Palos Verdes Estates Area Description
According to the United States Census Bureau’s 2000 results show that Palos Verdes Estates City’s total population reaches 13,340. About 10,604 of the city’s total populace are at least 16 years old and 5,487 of which are females. There are also around 2,676 residents who are 65 years old and above while 12,614 are at least 5 years of age.
The city’s schools have a total of 3,354 enrollees. Out of this entirety, 9.8% are enrolled in nursery school, preschool; 3.4% in kindergarten; 46.5% in elementary school (grades 1-8); 23 % in high school (grades 9-12); and 17.3% in college or graduate school. About 14.1% have some college, or no degree; 31% have professional degree; 39.9% have bachelor’s degree; and 6 have associate’s degree.
Based on the U.S. Census 2000 results, Palos Verdes Estates City has a total of 5,835 labor force, consisting of residents who are at least 16 years old. Out of the total labor force, 5,740 are employed and 95 are unemployed. There are also 2,335 who joined the city’s labor force, and 2,305 of them are employed.
Palos Verdes Estates City has 4,112 families as of 1999 according to the United States Census Bureau. The median family income is $ 133,563. Out of the total number of family population, 44 families have an income of less than $10,000; 6 families earn between $10,000 to $14,999; 115 families earn between $15,000 to $24,999; 113 families earn between $25,000 to $34,999; 198 families earn between $35,000 to $49,999; 402 families earn between $50,000 to $74,999; 449 families earn between $75,000 to $99,999; 1,017 families earn between $100,000 to $149,999; 479 families earn between $150,000 to $199,999; and 1,289 families earn $200,000 or more.
The city also has 4,989 households as shown in the same census results. The median household income is $ 123,534 for the year 1999. About 2.2 % of the total households have an income of less than $10,000; 0.8 % have an income of $10,000 to $14,999; 3.5 % have an income of $15,000 to $24,999; 4.4 % have an income of $25,000 to $34,999; 5.3% have an income of $35,000 to $49,999; 10.3 % have an income of $50,000 to $74,999; 10.7% have an income of $75,000 to $99,999; 23.7% have an income of $100,000 to $149,999; 11.3 % have an income of $150,000 to $199,999; and 27.8% has an income of $200,000 or more.
About 44 families, 5 families with female householders and no husband present; and 287 individuals are categorized as below poverty level as of 1999. Out of the total number of families below poverty level, 41 have related children below 18 years of age and 14 have related children below 5 years old.
As of 2000, Palos Verdes Estates City has a total of 5,202 housing units, 4,780 of which are 1-unit detached; 40 are 1-unit attached; 382 are multiple housing units; and none are mobile homes. Nearly 41.6 % of the total housing units are built sometime in 1940 to 1959; while only 1% is constructed from 1999 to March 2000.
Nearly 4,993 of the total housing units are occupied and 61 are vacant. Out of the total occupied housing units, 4,336 are owner-occupied and 476 are renter-occupied units. As for the vacant housing units, 32 are for sale units and 29 are for rent only. Of the 4,336 owner-occupied housing units, 3,202 have mortgage and 1,134 are not mortgaged. The median mortgage cost is $ 3,450. Just about 60.8 % of Palos Verdes Estates City homeowners have a monthly mortgage cost of $2,000 or more.
As for the renter-occupied housing units, 3.4 % have a gross rent of $300 to $499; 2.5 % have a gross rent of $500 to $749; 52.9 % have a gross rent of $1,000 to $1,499; 35.3 % have a gross rent of $1,500 or more; and 5.9 % have no cash rent. The median gross rent as of 1999 is $ 1,351.
The lowest selling price of the vacant-for-sale housing units is $400,000 to $499,999 while the highest selling price is $750,000 to $999,999. About 78.1 % of these housing units have a price tag of $500,000 to $749,999. The median asking price is $ 640,000.
About 52.2 % of the total vacant-for-rent housing units have a rental fee of $900 to $999 which is the lowest; while 13.8 % have a rental fee of $2,000 or more which is the highest. The median rental fee is $ 991 as of 2000.
Palos Verdes Estates City’s employment records show that 4,083 employed individuals work for private companies; 604 serve in government offices; 1,003 are self-employed workers; and 50 are unpaid family workers.
Management, professional, and related occupations are the most populated in Palos Verdes Estates City with 68.9 % of the total employed populace while farming, fishing, and forestry occupations are least populated with only 0 %.
As for the industry, U.S. Census Bureau results for the year 2000 show that educational, health and social services industry is the most populated while agriculture, forestry, fishing and hunting, and mining industry has the least number of staffs.
The males who worked full-time all year round have median earning of $100,000+, while the females who do the same have median earnings of $58,580. As of 1999, Palos Verdes Estates City’s per capita income is $69,040.
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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.