S Broadway / W 3rd St median real estate price is $678,747, which is less expensive than 67.6% of California neighborhoods and 21.4% of all U.S. neighborhoods.
The average rental price in S Broadway / W 3rd St is currently $2,984, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 58.1% of California neighborhoods.
S Broadway / W 3rd St is a densely urban neighborhood (based on population density) located in Los Angeles, California.
S Broadway / W 3rd St real estate is primarily made up of small (studio to two bedroom) to large (four, five or more bedroom) apartment complexes/high-rise apartments and small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the S Broadway / W 3rd St neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 2000 and the present.
Vacant apartments or homes are a major fact of life in S Broadway / W 3rd St. The current real estate vacancy rate here is 28.5%. This is higher than the rate of vacancies in 94.8% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.
Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Los Angeles, the S Broadway / W 3rd St neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
In a nation where 1 out of every 4 children lives in poverty, the S Broadway / W 3rd St neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.
In addition, the types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. NeighborhoodScout's exclusive analysis reveals that this neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone: 75.7%. This is a higher percent living alone than we found in 99.9% of all U.S. neighborhoods. Often residents who live alone are new arrivals to an area who are single, and often senior citizens who have lost a spouse.
The S Broadway / W 3rd St neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 96.7% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
In addition, the real estate in the S Broadway / W 3rd St neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 94.0% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 98.8% of American neighborhoods.
Furthermore, even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. What many people don't realize is that most of America's premier vacation locations are also very walkable. The S Broadway / W 3rd St neighborhood is among the top 5% of American neighborhoods in terms of walkability.
Also of note, do you watch 'This Old House' on Public Television? Do you love the idea of fixing up a Colonial or Victorian era home, complete with the charm of yesteryear? Do you like to stroll or drive streets lined with gracious older residences? If you found yourself nodding yes to any of these questions, you are going to be interested in this unique neighborhood. The S Broadway / W 3rd St neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 69.1% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 98.5% of the neighborhoods in the United States.
More people in S Broadway / W 3rd St choose to walk to work each day (29.9%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.
Also, in the S Broadway / W 3rd St neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 38.7% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 97.8% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.
Finally, would you like to be able to ride your bike to work? If you are attracted to the idea of getting a little exercise of the two-wheeled type while reducing your carbon footprint, bicycling to work might be the answer. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. NeighborhoodScout's analysis revealed that the S Broadway / W 3rd St neighborhood is a fantastic option for bicycle commuters, as 3.5% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 96.6% of the neighborhoods in America.
Regardless of the means by which residents commute, this neighborhood has a length of commute that is notable. Long commutes can be brutal. They take time, money, and energy, leaving less of you for yourself and your family. The residents of the S Broadway / W 3rd St neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 14.3% of commuters here travel more than one hour just one-way to work. That is more than two hours per day. This percentage with two-hour + round-trip commutes is higher than NeighborhoodScout found in 98.5% of all neighborhoods in America.
Most American households own a car or other vehicle. Many own two cars or perhaps three. In the United States, it is useful to have an automobile not only for commuting, but also for shopping and getting to other services one needs. But NeighborhoodScout's analysis revealed that households in the S Broadway / W 3rd St neighborhood have a highly unusual car ownership. 34.2% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.6% of U.S. neighborhoods.
The S Broadway / W 3rd St neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 96.4% of the neighborhoods in America. In fact, 73.0% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.
Did you know that the S Broadway / W 3rd St neighborhood has more Iranian and Ukrainian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 6.4% of this neighborhood's residents have Iranian ancestry and 4.6% have Ukrainian ancestry.
S Broadway / W 3rd St is also pretty special linguistically. Significantly, 14.9% of its residents five years old and above primarily speak Korean at home. While this may seem like a small percentage, it is higher than 99.9% of the neighborhoods in America.
How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.
The neighbors in the S Broadway / W 3rd St neighborhood in Los Angeles are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 61.5% of U.S. neighborhoods. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America's neighborhoods.
What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.
In the S Broadway / W 3rd St neighborhood, 73.0% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 12.7% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (8.1%), and 6.2% in clerical, assistant, and tech support occupations.
Languages
The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the S Broadway / W 3rd St neighborhood is English, spoken by 63.6% of households. Other important languages spoken here include Korean, Chinese, Spanish and German/Yiddish.
Ethnicity / Ancestry
Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.
In the S Broadway / W 3rd St neighborhood in Los Angeles, CA, residents most commonly identify their ethnicity or ancestry as Asian (24.0%). There are also a number of people of German ancestry (13.7%), and residents who report Italian roots (12.3%), and some of the residents are also of Mexican ancestry (10.2%), along with some Irania ancestry residents (6.4%), among others. In addition, 28.8% of the residents of this neighborhood were born in another country.
Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in S Broadway / W 3rd St neighborhood spend between 15 and 30 minutes commuting one-way to work (28.4% of working residents), which is shorter than the time spent commuting to work for most Americans. However, there is also a significant group of residents (14.3%) who commute over an hour in each direction.
Here most residents (29.9%) hop out the door and walk to work to get to work. In addition, quite a number also drive alone in a private automobile to get to work (11.0%) and 8.9% of residents also take the train for their daily commute. This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.
