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Long Beach Introduction
The City of Long Beach, California is one of the 35 largest cities in the United States and the fifth largest city in California. It is located in southern Los Angeles County, in Southern California. Long Beach is home to Long Beach Harbor on California's Pacific coast. It is approximately 30 minutes south of the City of Los Angeles, 30 minutes southwest of Anaheim, and two hours north west of San Diego. 2005 US Census Bureau estimates place the population of Long Beach at nearly 464,000 people, which is essentially unchanged from 2000 data.
Long Beach Neighborhoods
The City Long Beach is a mixture of both well-defined and loosely defined neighborhoods. Some of the most desirable areas to live in Long Beach are the Belmont Shore and Naples areas located in southeast Long Beach near Alamitos Bay and the Pacific Ocean. Other desirable locations include:
Downtown Long Beach has experienced significant gentrification in recent years. The East Village areas of Pine Avenue and Linden Avenue are known for their restaurants and nightlife, while the 4th Street Corridor is known for its shops, antique stores, and vintage clothing stores.
Long Beach Real Estate
There are approximately 173,000 housing units in Long Beach according to 2005 US Census estimates. Of these, approximately 94.5%, or 163,000 units, were occupied. Of the occupied housing in Long Beach, 40.5% were owner occupied, which is well below the national average of 66.9%. Of Long Beach's vacant housing, less than 10% is for seasonal or recreational use.
85.5% of Long Beach owner occupied homes were built prior to 1980, and 19% were built prior to 1939. Of the remainder, the vast majority (10.1%) were built in the 1980s. Only 4.5% of Long Beach owner occupied housing has been built since the 1980s. The "typical" Long Beach home is four or five rooms and 2 to 3 bedrooms. Many homes in Long Beach are smaller - 35% have three or fewer rooms, 32.5% have one or fewer bedrooms. Less than 10% of Long Beach housing is larger than 7 rooms and 3 bedrooms.
The majority of the homes in Long Beach are heated by utility gas (67.9%). Most of the remainder are heated by electricity (22.6%). Nearly a tenth (8.3%) are unheated.
In 2005, the median value of a home in Long Beach was $494,200 (according to 2005 US Census estimates). This is nearly three times the national average of $167,500. 2005 housing values were more than double what they were in 2000 when the median price of a Long Beach home was $210,000, which was almost twice the national average at that time. By the third quarter of 2006, the median price of a home in the Los Angeles-Long Beach-Santa Ana area was $582,000 (according th the National Association of Realtors). For that same time period, the median price of a condominium was $384,500. Both values are substantially above the national average.
77.9% of Long Beach's owner occupied homes have a mortgage. 32.5% of these homes also have a second mortgage, home equity line, or both. The median monthly housing costs for owner occupied Long Beach homes with a mortgage was $1,880 in 2005. 43.7% of owner occupied homes have monthly housing costs in excess of $2,000 per month.
Long Beach Property Taxes
The median property tax bill in Long Beach in 2005 was $2,414. Long Beach's property taxes are handled by the Los Angeles County Assessor's Office. Property Taxes are collected by the Los Angeles Treasurer/Tax Collector.
Long Beach Schools
The City of Long Beach is primarily served by the Long Beach Unified School District, which is the third largest school district in California. The Long Beach Unified School District serves more than 92,000 students in 95 public schools. The State of California recently named 15 of the schools in the Long Beach Unified School District for 2006-07 Title I Academic Achievement Awards. In addition, 24 of the Long Beach Unified School District schools have received "Distinguished School Awards" through the California School Recognition Program.
There are also several colleges and universities located in Long Beach, including Brooks College, California State University Long Beach (CSULB), and two campuses of Long Beach City College (LBCC).
Long Beach Economy
A major influence on the economy of Long Beach, California is the Port of Long Beach. The Port of Long Beach is the second busiest seaport in the United States. Some major employers in Long Beach include Boeing, the Bragg Companies, Gulfstream Aerospace Corporation, and Verizon. There is one Fortune 500 company headquarters located in Long Beach (Molina Healthcare). The Long Beach industries that employ the most people are: Trade, Transportation, and Utilities; Professional and Business Services; Government; Manufacturing; Educational and Health Services; Leisure and Hospitality; Financial Activities; Information; and Construction.
As of 2005, the median family income in Long Beach was $43,746, which is below the national average of $55,832.
Long Beach/California Mortgage and Real Estate Organizations
| Category | Value |
|---|---|
| Homes With No Mortgage | 22% |
| With A Mortgage | 78% |
| First Mortgage Only | 61% |
| Second Mortgage or Home Equity Loan | 17% |
| Second Mortgage Only | 11% |
| Home Equity Loan Only | 6% |
| Category | Value |
|---|---|
| Owner Costs as % of Income | 22.7% |
| Median Real Estate Taxes (2000) | $1,436 |
| Category | Value |
|---|---|
| Total Occupied | 163,107 |
| 1-Person Households | 30% |
| 2-Person Households | 27% |
| 3-Person Households | 14% |
| 4-Person Households | 12% |
| 5-Person Households | 8% |
| 6-Person Households | 4% |
| 7+-Person Households | 4% |
| Category | Value |
|---|---|
| Median Year Built | 1956 |
| Median Year Built (Owner Occupied) | 1953 |
| Median Year Built (Renter Occupied) | 1960 |
| Category | Value |
|---|---|
| Using Utility Co. Gas Heat | 83% |
| Using Bottled/Tank Gas Heat | 1% |
| Using Electric Heat | 14% |
| Using Oil Heat | 0% |
| Using Coal | 0% |
| Using Wood Heating | 0% |
| Using Solar Heat | 0% |
| Other Heating | 0% |
| No Heating | 1% |
| Category | Value |
|---|---|
| No Bedrooms | 3% |
| 1 Bedroom | 12% |
| 2 Bedrooms | 33% |
| 3 Bedrooms | 39% |
| 4 Bedrooms | 10% |
| 5+ Bedrooms | 3% |
Rate quotes from multiple lenders for the Long Beach area:
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