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Oakland Introduction
Oakland, the county seat of Alameda County, is located on the eastern end of San Francisco Bay. It is approximately twenty minutes from San Francisco across the Bay Bridge. Oakland is the eighth largest city in California. 2005 US Census estimates put the population of Oakland at slightly more than 370,000 people. Oakland's population has actually declined slightly from the 2000 census when the population of Oakland was 399,000 people.
Oakland Neighborhoods
Some of Oakland's more notable neighborhoods include:
Oakland Real Estate
In 2005, there were 157,508 homes in Oakland, California (according to US Census Bureau estimates). 95.7% of these homes were occupied, an occupancy rate that was higher than the national average. 41.4% of Oakland's homes were owner occupied, which was an owner occupancy rate significantly below the national average.
A high number of Oakland's homes (42.8%) were built prior to 1940. Another quarter (25.8%) were built from 1940 through 1959. 19.5% were built in the 1960s and '70s, 4.8% were built in the 1980s, 4.4% in the 1990s, and only 2.7% have been built since 2000. The "prototypical" Oakland home is relatively small, with 4 to 5 rooms (representing 41.2% of Oakland Homes). The vast majority (88.5%) of Oakland homes also have three or fewer bedrooms. Only around 10% have more rooms or more bedrooms.
Three quarters (74.5%) of Oakland homes are heated with utility gas. Most of the remainder (22.5%) are heated with electricity.
In 2005, the median value of an Oakland owner occupied home was $487,300, almost three times the national average for 2005 of $167,500. The 2005 median value of a home is also over twice the median value of an Oakland home as of the 2000 census, when the median value was $235,500. That, too, was more than the national average.
The median monthly owner costs for an Oakland home in 2005 were $1,504, which was above the average for the US of $1,295. At that time, 80.6% of Oakland's owner occupied homes had a mortgage. Slightly over a quarter (25.8%) of these owner occupied homes also had a second mortgage, a home equity line, or both.
Oakland Property Taxes
In 2005, the median property tax bill for an Oakland owner occupied home was $3,214. The Treasurer-Tax Collector - Alameda County is responsible for collecting property taxes in Oakland and Alameda County. The Office of the Assessor - Alameda County is responsible for assessing property values in Oakland and Alameda County.
Oakland Schools
The Oakland Unified School District (OUSD) operates most of the public schools in the City of Oakland. The Oakland Unified School District educates over 41,000 students. Since 2000, one of Oakland's schools has received a "Distinguished School Award" through the California School Recognition Program. There are several notable private high schools in Oakland, including: The College Preparatory School, Head-Royce School, The Bishop O'Dowd High School, Holy Names High School, and St. Elizabeth High School.
There are also several two- and four-year colleges and universities located in Oakland, including: Cal State East Bay's , California College of the Arts, Holy Names University, Laney College, Merritt College, Mills College, Pacific Oaks College, and The University of California at Berkeley (campus is located partially within the Oakland city limits).
Oakland Economy
The port of Oakland has a major influence on Oakland's economy. Other major sectors of the Oakland economy include: business services, entertainment, food processing, health care services, light manufacturing, and transportation. There are two Fortune 500 company headquarters in Oakland, and many more in the surrounding San Francisco Bay area.
The Oakland area's largest employers include: Alameda County, Kaiser Foundation Health Plan Inc., Lawrence Livermore National Lab, Safeway Inc., SBC Communications Inc., the State of California, the U.S. Postal Service, Oakland District, and the University of California at Berkeley.
As of 2005, the median family income in Oakland was $47,283, below the average for the United States ($55,832).
Oakland/California Mortgage and Real Estate Organizations
| Category | Value |
|---|---|
| Homes With No Mortgage | 23% |
| With A Mortgage | 77% |
| First Mortgage Only | 58% |
| Second Mortgage or Home Equity Loan | 19% |
| Second Mortgage Only | 11% |
| Home Equity Loan Only | 8% |
| Category | Value |
|---|---|
| Owner Costs as % of Income | 22.5% |
| Median Real Estate Taxes (2000) | $1,762 |
| Category | Value |
|---|---|
| Total Occupied | 150,787 |
| 1-Person Households | 32% |
| 2-Person Households | 28% |
| 3-Person Households | 15% |
| 4-Person Households | 11% |
| 5-Person Households | 6% |
| 6-Person Households | 3% |
| 7+-Person Households | 4% |
| Category | Value |
|---|---|
| Median Year Built | 1950 |
| Median Year Built (Owner Occupied) | 1943 |
| Median Year Built (Renter Occupied) | 1955 |
| Category | Value |
|---|---|
| Using Utility Co. Gas Heat | 83% |
| Using Bottled/Tank Gas Heat | 1% |
| Using Electric Heat | 15% |
| Using Oil Heat | 0% |
| Using Coal | 0% |
| Using Wood Heating | 1% |
| Using Solar Heat | 0% |
| Other Heating | 0% |
| No Heating | 1% |
| Category | Value |
|---|---|
| No Bedrooms | 2% |
| 1 Bedroom | 10% |
| 2 Bedrooms | 34% |
| 3 Bedrooms | 36% |
| 4 Bedrooms | 14% |
| 5+ Bedrooms | 4% |
Rate quotes from multiple lenders for the Oakland area:
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