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.
Whittier Area Description
According to the U.S. census results for the year 2000, Whittier City had a total population of 83,838. About 63,767 of those residents were at least 15 years old. Out of the total population, 51,648 residents were age 25 and above and 10,144 were at least 65 years old. Out of the 77,328 residents that were at least five years old, 61% only speaks English at home. Out of the 30,400 residents that speak other languages in their homes, 34% of them are fluent in Spanish.
Based on U.S. Census results for the year 2000, the city had 26,156 students, 42.9% of which were in elementary school; 26.4% were in college or graduate school; 20.4% were in high school; 5.2% were in nursery school; and 5.1% were in kindergarten. About 79% of the city's population aged 25 and above were high school graduates, and only 21% had a bachelor's degree or higher.
Out of the city's total number of residents that were at least 15 years old, almost 52% were married but separated, 30% were never married; 9% were divorced; 7% were widowed; and 2% were separated.
Records of the U.S. Census Bureau indicate that Whittier had 28,273 households in 1999. Out of the total households, 2.6% had income of at least $200,000; 3.4% had income between $150,000 to $199,999; 10.2% had income between $100,000 and $149,999; 12.6% had income between $75,000 and $99,999; 20.7% had income between $50,000 and $74,999; 16.1% had income between $35,000 and $49,999; 11.7% had income between $25,000 and $34,999; 10.3% had income between $15,000 and $24,999; 5.7% had income between $10,000 and $14,999; and 6.8% had income below $10,000. For the year 1999, the median income of Whittier City households was $49,256 while mean earnings were $62,340.
Thirty-nine percent of Whittier City households had two vehicles; 32% had one vehicle; 20% had at least three vehicles; and only 9% had none.
There were 29,040 housing units in all in the city. About 66% of the total housing units were single-detached; 5% were single-attached; and 0.6% were mobile homes. The rest were multiple housing units. Nearly 53% of the housing structures were built in 1940 to 1959. Less than 900 housing units were built from 1990 to March 2000.
There were 28,333 occupied housing units in the city and 468 vacant ones. There were 15,521 owner-occupied housing units, according to census results for the year 2000. Most of them were valued from $150,000 to $299,999, and had median value of $211,700. Around 11,731 owner-occupied housing units had mortgage while 3,790 had none. About 26% of these housing units had monthly mortgage costs between $1,000 and $1,499. Another 23% had monthly mortgage costs from $1,500 to $1,999. Around 15% had monthly mortgage of at least $2,000. Median mortgage costs per month were $1,506.
The city's census results for the year 2000 also indicate that there were 11,953 renter-occupied housing units, 46% of which had gross rental fees between $500 and $749. Another 31% had gross rent from $750 to $999. Only 1.8% had gross rent of at least $1,500. The median gross rent was $723.
None of the vacant housing units were for sale below $40,000. Most were for sale in the $175,000-$399,999 price range. None of the housing units were sold above $750,000. The median selling price was $216,300.
Most of the vacant housing units that were for rent had asking price of $500 to $549 or $1,000 to $1,499. None of the housing units were for rent above $2,000. The median rent asked was $683.
Year 2000 census results also show that there were 20,650 families in Whittier City. Only 4% of the families had income below $10,000. Most of the families had earnings between $35,000 and $99,999. Whittier City's median family income was $55,726 in 1999. Around 1,600 families, or almost 8,550 individuals, were below the poverty level. Almost 1,350 of these families had children below 18 years of age.
Out of the 62,628 city residents that were at least 16 years old, 38,824 belonged in the city's labor force; out of which 36,470 were employed and 2,315 were unemployed. About 77% of the workers were hired by private companies; 17% worked for the government; and 6% were self-employed.
Most of the working population had sales and office support jobs, and management, professional, and related occupations. In terms of industry, most of the working residents belonged in educational, health and social services; manufacturing and retail trade industries.
Of the 36,470 employed workers in the city, 19,409 were males and 17,061 were females. Most of the males worked in the manufacturing industry while most of the females were in the educational, health, and social services industry. Median earnings for full-time, year-round male workers were $40,394, while median earnings for full-time, year-round female workers were $34,223 in year 1999.
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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.