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Santa Clarita Mortgage Facts

Santa Clarita Introduction

Santa Clarita is located in Southern California in Los Angeles County. It is 40 minutes northwest of Los Angeles, and an hour and 25 minutes east of Santa Barbara. Santa Clarita is west of the Angeles National Forest.

Santa Clarita is the fourth most populous city in Los Angeles County. As of 2005, its population was 167,047 people. This was up from the 2000 census when the population was 151,089.

Santa Clarita Neighborhoods

According to the FBI, Santa Clarita is one of the safest cities of over 100,000 people in the United States. CNN/Money magazine rated Santa Clarita as the best place to live in California. It was incorporated in 1987 from the communities of Canyon Country, Newhall, Saugus, Valencia, and parts of Castaic. Current new home construction is centered in Valencia and Stevenson Ranch as well as the outlying areas of Saugus and Canyon Country.

Santa Clarita Real Estate

In 2005 there were nearly 56,000 housing units in Santa Clarita, of which 74% were owner occupied. This owner occupancy rate exceeded the national average of 66.9% at that time. Only 3.7% of Santa Clarita's housing was unoccupied or vacant, which was substantially better than the national average (10.8%).

Most (70.6%) of Santa Clarita's housing was built in the 1960s through the 1980s. Only 7.7 % was built before that, with 21.5% having been built since. 7.5% has been built since 2000. Over three quarters of Santa Clarita homes have four to seven rooms. Most have two to three bedrooms. Approximately an eighth have 8 or more rooms, and slightly more than a quarter have four or more bedrooms. Most are heated by utility gas with the remainder being heated by electricity.

In 2005, a Santa Clarita home had a median value of $489,200, well above the national average and better than double the value in 2000. As of the end of 2006, average selling prices (ASP) for homes in Santa Clarita ranged from a low of $268,000 for a one-bedroom, to $633,000 for a four bedroom. For Santa Clarita as a whole, the average selling price was $527,000 at the end of December, 2006.

Median owner costs for a home in Santa Clarita were $2,018 a month as of 2005. This was substantially over the national average. 83.6% of the owner occupied houses in Santa Clarita were mortgaged in 2005. In addition, a substantial number (34.6%) also had a second mortgage or home equity line.

Santa Clarita Property Taxes

The L.A. County Treasurer/Tax Collector is responsible for collecting property taxes in Santa Clarita. The L.A. County Assessor's Office determines the assessed value of property for tax purposes. In 2005, the median real estate tax assessment for an owner occupied home in Santa Clarita was a substantial $3,266.

Santa Clarita Schools

For primary education, Santa Clarita is served by the following six school districts: the Acton/Agua Dulce Unified School District, the Castaic Union School District, the Newhall School District, the Saugus Union School District, the Sulphur Springs School District, and the William S. Hart Union High School District. According to the Santa Clarita web site, schools in the Santa Clarita Valley rank among the top 10% in California.

Private schools in Santa Clarita include: A New World Montessori Preschool, NorthPark Christian Academy, Pinecrest Schools Canyon Country, and Santa Clarita Christian School.

Colleges and universities located in Santa Clarita include: the California Institute of the Arts, Clarita Career College, the College of the Canyons, and the Master's College.

Santa Clarita Economy

Santa Clarita is one of the top 10 most business friendly cities in California according to the Kosmont-Rose Institute Cost of Doing Business Survey. Of major importance to Santa Clarita's economy is the television and motion picture industry. The largest employers in Santa Clarita include: ATC/Vancom of California L.P., College of the Canyons , Henry Mayo Newhall Memorial Hospital, HR Textron, the Newhall School District, Princess Cruises, Saugus Union School District, Six Flags California, the United States Postal Service, and the William S. Hart Union High School District.

Median family income in Santa Clarita is well above the national average. As of 2005, the median family income in Santa Clarita was $82,628.

Santa Clarita and California Mortgage and/or Real Estate Organizations

Santa Clarita Mortgage Statistics

CategoryValue
Homes With No Mortgage9%
With A Mortgage91%
First Mortgage Only66%
Second Mortgage or Home Equity Loan24%
Second Mortgage Only16%
Home Equity Loan Only8%

Santa Clarita Housing Expenses

CategoryValue
Owner Costs as % of Income23.8%
Median Real Estate Taxes (2000)$2,309

Santa Clarita Household Size

CategoryValue
Total Occupied50,685
1-Person Households19%
2-Person Households28%
3-Person Households18%
4-Person Households20%
5-Person Households9%
6-Person Households4%
7+-Person Households2%

Santa Clarita Housing Stock

CategoryValue
Median Year Built1981
Median Year Built (Owner Occupied)1981
Median Year Built (Renter Occupied)1983

Santa Clarita Home Heating

CategoryValue
Using Utility Co. Gas Heat89%
Using Bottled/Tank Gas Heat1%
Using Electric Heat9%
Using Oil Heat0%
Using Coal0%
Using Wood Heating0%
Using Solar Heat0%
Other Heating0%
No Heating0%

Santa Clarita Housing Size

CategoryValue
No Bedrooms1%
1 Bedroom4%
2 Bedrooms20%
3 Bedrooms39%
4 Bedrooms29%
5+ Bedrooms6%
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