Real estate in popular CA cities
California, the nation's most populous state with 36.5 million residents, is in many ways a microcosm of the United States. With the most diverse population, comprising more than 65 ethnicities and speaking more than 200 different languages, California claims the highest percentage of foreign-born residents (26%), including its former governor, former actor and bodybuilder, Arnold Schwarzenegger, an Austrian.
The Golden State also boasts the largest economy of any single state, representing 13% of the entire United States gross domestic product. Only seven countries in the world have economies larger than California's. The state's enormous economic engine is driven by four major industries: manufacturing, including high tech, aerospace and defense products; agriculture, including an almost infinite variety of crops, vineyards, and food processing; tourism, fueled by the state's scenic attractions and ideal climate; and entertainment. In each of these areas, California is #1 in the nation.
Diverse describes the income of California's residents as well as their heritage. California's real estate is in great demand, and consequently it has the highest median home value, $426,200 in 2009. Nearly 90 of Forbes' Magazines 400 wealthiest Americans live in California, a whopping 23 percent, yet the San Joaquin Valley, home to many impoverished migrant workers, has been called one of the most economically depressed regions of the country, on a par with Appalachia. Due to these extremes of wealth and poverty, California's per capita income ranks just 13th in the U.S.
Extremes of climate and topography also characterize California's 155,959 square miles of land area. It is the only state with an extensive seacoast, high mountains and deserts. Just 80 miles apart within California are the highest point in the contiguous 48 states (Mount Whitney at 14,494 feet) and the lowest point in the U.S. (Death Valley at 282 feet below sea level). Despite its distinction as the state with the highest recorded temperature in U.S. history, 134F (also at Death Valley), California's central coast enjoys the most equable average temperatures in the country, varying just 10F between summer and winter. Southern California is indeed quite sunny and dry, true to its reputation, with Los Angeles and San Diego each averaging close to a foot of rainfall annually; yet Northern California's major city, San Francisco, is famously foggy, receiving 50% more precipitation.
California's dramatic topography and scenery have made it the top travel destination in the U.S. for a number of years, and its beaches, mountains, and preserves like Monterey Bay and Yosemite National Park bring in millions of outdoor adventurers, wildlife enthusiasts, surfers and skiers. Many more visitors come to see California's urban attractions, from Disneyland and Hollywood in Los Angeles area to the historic cable cars, Fishermans' Wharf and Golden Gate Bridge of San Francisco.
In many ways California offers its residents an outstanding quality of life, with a strong and diverse job market, mild climate, top-notch public university system, and numerous natural amenities. Problems do exist, though. California is frequently plagued by natural and weather-related disasters, including earthquakes, wildfires and landslides. The cost of living, at least in the major metropolitan areas, is very high, and the inner cities have been beset in recent years by growing rates of violent crime fueled largely by youth gangs. Since 2000, state politics have been in upheaval, after an energy crisis and budget shortfall prompted Californians to recall Governor Gray Davis in 2003, just 13 months after electing him.
|NUMBER OF HOMES AND APARTMENTS||12,577,498|
|CALIFORNIA HOME OWNERSHIP|
|% OWNER OCCUPIED||57.84%|
|% RENTER OCCUPIED||41.82%|
|TYPE OF CALIFORNIA HOMES|
|SINGLE FAMILY DETACHED||58.17%|
|ROWHOUSES AND ATTACHED HOMES||7.05%|
|SMALL APARTMENT BUILDINGS||8.10%|
|COMPLEXES OF HIGH RISE APARTMENTS||22.67%|
|SIZE OF CALIFORNIA HOMES|
|5 OR MORE BEDROOMS||4.20%|
|AGE OF CALIFORNIA HOMES|
|NEWER HOMES (2000 OR LATER)||11.26%|
|ESTABLISHED, BUT NOT OLD HOMES (1970-1999)||44.48%|
|WELL-ESTABLISHED, OLD HOMES (1940-1969)||34.64%|
|HISTORIC (1939 OR BEFORE)||9.61%|
|CALIFORNIA REAL ESTATE INFORMATION||DETAILS|
|MEDIAN HOME VALUE||$336,970|
|MEDIAN RENTAL PRICE||$1,220|
|HOME VALUE RANGE|
|$0 - $49,000||3.30%|
|$49,001 - $98,000||3.55%|
|$98,001 - $196,000||10.66%|
|$196,001 - $294,000||14.24%|
|$294,001 - $392,000||15.48%|
|$392,001 - $491,000||12.86%|
|$491,001 - $736,000||21.62%|
|$736,001 - $981,000||9.65%|
|PEOPLE OF CALIFORNIA||DETAILS|
|UNDER 5 YEARS||6.79%|
|5 TO 17||18.16%|
|18 TO 24||10.53%|
|25 TO 34||14.27%|
|35 TO 54||28.01%|
|55 TO 64||10.84%|
|65 YEARS AND OVER||11.31%|
|EDUCATION ATTAINMENT OF ADULTS|
|HIGH SCHOOL GRADUATES||80.82%|
|MEDIAN HOUSEHOLD INCOME||$61,632|
|PER CAPITA INCOME||$29,634|
|INDIVIDUALS BELOW POVERTY LEVEL||14.39%|
|INDUSTRIES PEOPLE WORK IN||Healthcare (11.92%)
Professional, scientific, and technical services (7.60%)
Public Service (4.70%)
Information Technology (2.94%)
Real estate (2.43%)
|BLACK OR AFRICAN AMERICAN||6.17%|
|AMERICAN INDIAN AND ALASKA NATIVE||0.97%|
|NATIVE HAWAIIAN AND OTHER PACIFIC ISLANDERS||0.39%|
|SOME OTHER RACE ALONE||16.96%|
|TWO OR MORE RACES||4.87%|
|HISPANIC OR LATINO (OF ANY RACE)||37.62%|
|ETHNICITIES PRESENT||Other groups (58.39%)
|LANGUAGES SPOKEN||English (56.76%)
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