Oakland California Real Estate
Below is a MRR and PLR article in category Finance -> subcategory Real Estate.
Oakland, California Real Estate Overview
Discovering Oakland, California
Nestled in Alameda County, just 10 miles east of San Francisco, Oakland boasts a vibrant community and a population of 399,484. Its strategic location in the San Francisco Bay Area, linked to San Francisco by the iconic Bay Bridge, offers residents and visitors unparalleled proximity to both cities.
Architectural Charm and Neighborhoods
Oakland is dedicated to preserving its architectural heritage, notably its stunning Victorian homes. These beautifully restored residences can be admired throughout downtown Oakland's Preservation Park and the picturesque Oakland Hills.
The city showcases a variety of architectural styles, with Victorian and Craftsman homes being particularly prominent. In Rockridge, a pedestrian-friendly neighborhood with excellent public transportation, you can find exquisite examples of both styles. The area features a BART station, a European-style market, diverse restaurants, and charming boutiques. Nearby Elmwood, close to the University of California, also remains highly sought after for its desirable homes.
Real Estate Snapshot
Oakland's property landscape includes approximately 150,787 residential properties, with the median construction year around 1950. Housing options range from one to five or more bedrooms, accommodating families of various sizes. Most homes are occupied with mortgages:
- Homes without a mortgage: 23%
- Homes with a mortgage: 77%
- First mortgage only: 58%
- First and second mortgage or HELOC: 19%
In 2000, the median real estate tax was $1,762, compared to the 1999 median family income of $44,384. This contrasts with the U.S. median real estate tax of $1,300 and family income of $42,000 during the same period.
Demographics and Community Life
Children make up 25% of Oakland's population, with 99,759 residents under 18. The city offers a range of educational options, including private institutions and a newly established Spanish bilingual school for younger children.
Oakland comprises a diverse community, with 32% one-person households and 28% two-person households. The median age of residents is 33.3 years, and seniors represent about 10.5% of the population. The workforce includes 170,503 individuals, with the majority (71.98%) commuting by car, while 17.44% use public transportation.
Safety and Crime Rates
In 2003, crime statistics per 10,000 residents included:
- Violent crimes: 140.51
- Robberies: 61.93
- Aggravated assaults: 69.14
- Property crimes: 566.48
- Burglaries: 114.35
- Larceny-thefts: 314.18
- Motor vehicle thefts: 137.95
Cultural Richness
Oakland thrives as an ethnically diverse city with a temperate climate year-round. It hosts numerous cultural and educational institutions, offering attractions like Lake Merritt, Chinatown, and the Oakland Hills, boasting breathtaking views of San Francisco and the Bay.
If you're considering Oakland's real estate, here are some quick statistics:
- Zip Codes: 94601, 94602, 94603, 94605, 94606, 94607, 94608, 94609, 94610, 94611, 94612, 94615, 94617, 94618, 94619, 94621
- Area Code: 510
- Ethnic Diversity: 31.29% White, 35.66% African-American, 15.23% Asian, 21.89% Hispanic
- Median Family Income (1999): $44,384
- Population Below Poverty Level: 19.15%
Oakland offers a compelling mix of cultural richness, architectural beauty, and community vibrancy, making it a desirable real estate market.
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