PROPERTY EVALUATION (RESTRICTED REPORT)
AREA ANALYSIS
Cathedral City is a city in Riverside County, California, United States. Sandwiched between Palm Springs and Rancho Mirage, it is one of the cities in the Coachella Valley (Palm Springs area) of southern California. Cathedral City is the second largest in population in the Coachella Valley, second only to Indio. The town’s name derives from “Cathedral Canyon” to the south of the town, so named in 1850 by Colonel Henry Washington because its rock formations were reminiscent of a cathedral. The city itself started as a housing subdivision in 1925, but was not incorporated until 1981. The city grew in population several times over during the next two decades. Cathedral City had a downtown revitalization program started in the late 1990s, with much completed by 2005. A new city hall was built as was the IMAX/Mary Pickford movie theater complex, and a total of 130 acres of new or remodeled stores. Cathedral City has an automotive mega-dealership known as the Palm Springs Auto Mall based on the city limits with Palm Springs. According to the United States Census Bureau, Cathedral City has a total area of 21.8 square miles, of which, 21.5 square miles of it is land and 0.3 square miles of it (1.18%) is water. The population in Cathedral City is 53,733. The population density is 2,389 people per square mile. The median age in Cathedral City is 34.8, while the US median age is 37.4. The number of people per household in Cathedral City is 3.1, whereas the US average of people per household is 2.6.
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Cathedral City has an unemployment rate of 3.5%; the US average is 3.6%. Cathedral City has seen the job market increase by 2.2% over the last year, and future job growth over the next ten years is predicted to be 37.8%, which is higher than the US average of 33.5%. The sales tax rate for Cathedral City is 8.8% and the income tax rate is 9.3%. The average income of a Cathedral City resident is $19,674 a year while the US average is $28,555 a year. The median household income of a Cathedral City resident is $43,128 a year, with the US average coming in at $53,482 a year.
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