Before investing in a second home in the mountains, it’s important to know the economic health of the area.
Big Bear Lake is the third smallest city in the Inland Empire (pop. 6,256). Taxable retail sales for the fiscal year 2006-2007 were $181 million, down by 3.4% from the previous year.
The average assessed value of a home in Big Bear Lake was $485,807 (2007), the second highest in the Inland Empire, behind Indian Wells. Property taxes are a major source of revenue for cities and this shows Big Bear’s strength.
Below is a chart from AOL, breaking down the demographics of the area.
|
Demographics & Households |
|
|
Median Age |
42.5 |
|
Male |
52% |
|
Female |
48% |
|
Married |
53% |
|
White |
89% |
|
Black |
1% |
|
American Indian |
1% |
|
Asian/pacific Islander |
1% |
|
Hispanic |
19% |
|
Other Race |
8% |
|
Number of Households |
2,647 |
|
Median Household Size |
2.3 |
|
Housing |
|
|
Owners |
19% |
|
Renters |
11% |
|
Vacancies |
70% |
|
Median Housing Age |
27.0 |
|
Median Housing Value |
$422,100 |
|
House Appreciation (last 12 months) |
-1.9 |
|
Income & Employment |
|
|
Median Household Income |
$42,225 |
|
Income Per Capita |
$25,446 |
|
Recent Job Growth (past 12 months) |
-1% |
|
Future Job Growth (next 10 years) |
28% |
|
Unemployment Rate |
8% |
Market Report Big Bear Realestate
Market Report -Big Bear Real Estate
All Properties In 92315
# of Houses for Sale:651
Median Price: $355928
Average Price: $513795
