Housing Report for Hanford-Corcoran

Hanford-Corcoran had an owner-occupied dwelling median in 2005 of $188,800, according to the American Community Survey. This median is less than the State of California 2005 median owner-occupied dwelling value of $477,700 and greater than median home value of $167,500 across the United States during the same year.

Hanford-Corcoran can be understood as having a medium proportion of residential real estate that is high priced. During the year 2005, the American Community Survey reported that 2.3 percent of the homes were valued over $500,000.

It can be understood that there is a fair amount of housing that is affordable in Hanford-Corcoran, California. In 2005, 29 percent of residential real estate was valued under $125,000.

In Hanford-Corcoran, there were a total of 40,021 housing units in the year 2005. This represents a medium-high growth level in the number housing units, adding a sum of 2,980 residential structures since 2001, a change of 8 percent.

Throughout the State of California, Hanford-Corcoran stands 10 of the 26 metro areas by percentage growth in residential real estate. The metro area is positioned 102 of 361, when comparing the change in housing structures in other metropolitan areas throughout the nation.



Data Source: U.S. Census Bureau

Employment Report for Hanford, California -- Annual 2005 Industry Summary

A high-wage industry in Hanford is the utilities industry with wages that annually pay $69,567. In the Metropolitan Area since the year 2001, the annual average wages in the industry have grown by 13.3 percent or $8,186. The State of California shows a similar economic condition in the utilities industry, ranking near the top of sectors by 2004 industry pay.

Educational services is the industry that has grown the most in terms of employment from 2001-2005 in Hanford, growing in new jobs by 204.5 percent. This is greater than the rate of employment change across the nation of 13.8 percent. The State of California had an industry job change of 13.7 percent, during the time since 2001.

In Hanford, Agriculture, forestry, fishing and hunting, Other services, except public administration and Manufacturing industries have the highest United States location quotient (LQ). The Agriculture, forestry, fishing and hunting industry has an LQ of 25.94. This means the percent of total employment in the Agriculture, forestry, fishing and hunting sector is 25.94 times the percent of the national average, This signifies that Hanford may be an exporter of products or services of Agriculture, forestry, fishing and hunting.

Manufacturing has the largest businesses in Hanford MSA, with the industry averaging 54 jobs per place of business. This is greater than the US industry average of 39 and greater than the California establishments size average of 32 for the Manufacturing industry.

In Hanford, Agriculture, forestry, fishing and hunting, Retail Trade, and the Manufacturing sectors are the largest industries, in terms of total number of jobs in 2005. The Agriculture, forestry, fishing and hunting is the largest employment industry and makes up 27.3 percent of all jobs throughout the region, totaling 7,691 jobs. The Retail Trade and Manufacturing industries make up 13.8 and 13.7 percent of the total jobs, respectively.

Real estate and rental and leasing since the year 2001 lost the most jobs in the Hanford Metropolitan Area. The industry was hit with a loss of 154 jobs, or 23.6 percent of jobs in the industry. The losses in this industry made up 49.7 percent of all employment losses in the Metro Area.





Datasource: U.S. Department of Labor. Bureau of Labor Statistics. Quarterly Census of Employment and Wages (QCEW).