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i <br />• / / ip <br />Housing <br />The 2000 census reported 28,921 housing units within the City. The median value of <br />owner - occupied non - condominium houses in April 1999 was $490,718 con cared with <br />$672,768 in the County. The median value of a condominium in the City was $407,000. <br />Income and Social Characteristics <br />Residents of the City generally realize above - average incomes and have above - average <br />educational backgrounds. Professionals are attracted to the City because it is within convenient <br />distance to major Bay Area work centers. <br />Effective buying income ( "EBI ") is designated by Sales and Marketing Management <br />Magazine as personal income less personal tax and non -tax payments. Personal income is the <br />aggregate of wages and salaries, other labor income (such as employer contributions to private <br />pension funds), proprietor's income, rental income (which includes imputed rental income of <br />owner - occupants of non -farm dwellings), dividends paid by corporations, personal interest <br />income from all sources, and transfer payments (such as pensions and welfare assistance). <br />Deducted from this total are personal taxes (federal, state and local, non -tax payments (such <br />as fines, fees, penalties), and personal contributions for social insurance. Effective buying <br />income is a bulk measure of market potential. It indicates the general ability to buy and is <br />essential in comparing, selecting and grouping markets on that basis. The following table <br />demonstrates the growth in annual estimated EBI for the City, County, the State of California <br />and the United States. Median household effective in the City in 2002 was $57,487, as reported <br />in Sales and Marketing Management 2002 Survey of Buying Power. <br />-23- <br />