Pacific Grove Real Estate
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This an overview of the Pacific Grove real estate market. It is intended as a resource for investors and other home buyers when researching Pacific Grove homes for sale.
The information is compiled from many sources, and will be updated every 3 months, however, some of the sources drawn from may be a few years older.
Last updated 3/13/10
OVERVIEW
Pacific Grove is located on the Monterey Peninsula on the California Central Coast in Monterey County. The area code is 831 and the zip code is 93950. The population is around 14,600. The area is 2.87 square miles, with around 5100 per square mile population density.
MEDIAN HOUSEHOLD INCOME
$84,000
MEDIAN HOME PRICE
The median sale price for Pacific Grove real estate is $679,000 according to Zillow and $655,000 according to Cyberhomes.
PROPERTY TAXES
In 2006 the median property taxes were around $4900.
RENTERS VS. HOMEOWNERS
Around 46% renters with 12% of homes vacant. Rents range between $2200 and $2500.
COST OF LIVING
The cost of living in Pacific Grove is very high compared to the national average.
THE HOUSES
Most Pacific Grove real estate was built in the 1940's and 50's, with the next largest group being built before 1940. The third largest group was built in the 60's.
Utility gas is used by 83%, and 14% use electricity.
JOBS
Most common industries for men include construction, accommodation & food service, education and scientific, professional and technical. For women, educational services and health care top the list. Occupations are primarily management and professional, then sales and office, then service oriented.
Unemployment was 16.6% as of February 2010.
COMMUTING
The average time for commuters to get to work is 21 minutes. 27% live and work in this city. 7% work from home.
THE PEOPLE
Ethnic makeup in this area is predominately white at 84% and Hispanic at 7%. Of the 12% foreign born residents, most are from Europe, Asia and Latin America.
EDUCATION
92% of people have a high school degree or higher, 44% have a bachelor's degree or higher, while 18% have a graduate or professional degree.
THE WEATHER
Temperatures range from 68 in summer to 43 degrees Fahrenheit in winter. There are usually 63 days of precipitation. You can expect about 260 sunny days per year.
CRIME
Violent crime is fairly low, with property crime a little higher.
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