S Broadway / W 3rd St median real estate price is $864,247, which is more expensive than 50.7% of the neighborhoods in California and 87.2% of the neighborhoods in the U.S.
The average rental price in S Broadway / W 3rd St is currently $3,108, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 53.2% 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) apartment complexes/high-rise apartments and single-family homes. 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 27.1%. This is higher than the rate of vacancies in 93.2% 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.
The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
People
Of note is NeighborhoodScout's research finding that the S Broadway / W 3rd St neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the S Broadway / W 3rd St community truly stands out from the rest in this regard.
In addition, one of the most interesting things about the S Broadway / W 3rd St neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 74.7% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 99.9% of the neighborhoods in America.
Real Estate
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 100.0% 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, 99.0% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 99.8% 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, 89.3% of the real estate in the S Broadway / W 3rd St neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
Finally, 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: 86.9% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 99.9% of the neighborhoods in the United States.
Modes of Transportation
More people in S Broadway / W 3rd St choose to walk to work each day (18.6%) 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, if your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 4.7% of residents in the S Broadway / W 3rd St neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 97.9% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.
Finally, 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 31.5% 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 97.6% 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.
Car Ownership
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. 32.8% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.5% of U.S. neighborhoods.
Diversity
Did you know that the S Broadway / W 3rd St neighborhood has more Greek and Iranian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 8.3% of this neighborhood's residents have Greek ancestry and 6.4% have Iranian ancestry.
S Broadway / W 3rd St is also pretty special linguistically. Significantly, 1.0% of its residents five years old and above primarily speak Persian at home. While this may seem like a small percentage, it is higher than 97.7% of the neighborhoods in America.
Migration / Stability
Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. In the S Broadway / W 3rd St neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 98.5% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
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 middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 43.4% of the neighborhoods in America. 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.
The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.
In the S Broadway / W 3rd St neighborhood, 60.3% 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 24.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (13.3%), and 2.1% in manufacturing and laborer occupations.
Languages
The most common language spoken in the S Broadway / W 3rd St neighborhood is English, spoken by 79.8% of households. Some people also speak Spanish (6.0%).
Ethnicity / Ancestry
Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.
In the S Broadway / W 3rd St neighborhood in Los Angeles, CA, residents most commonly identify their ethnicity or ancestry as Italian (20.7%). There are also a number of people of Mexican ancestry (17.6%), and residents who report German roots (12.9%), and some of the residents are also of French ancestry (12.2%), along with some Greek ancestry residents (8.3%), among others. In addition, 19.8% of the residents of this neighborhood were born in another country.
How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in S Broadway / W 3rd St neighborhood spend between 45 minutes and one hour commuting one-way to work (38.3% of working residents), longer and tougher than most commutes in America.
Here most residents (34.9%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (18.6%) and 8.2% of residents also ride the bus for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
