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Real Estate Prices & Overview

Greater Wilshire Southeast median real estate price is $877,429, which is more expensive than 46.5% of the neighborhoods in California and 84.1% of the neighborhoods in the U.S.

The average rental price in Greater Wilshire Southeast is currently $2,825, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 63.9% of California neighborhoods.

Greater Wilshire Southeast is a densely urban neighborhood (based on population density) located in Los Angeles, California.

Greater Wilshire Southeast real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four 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 Greater Wilshire Southeast 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 1940 and 1969.

Real estate vacancies in Greater Wilshire Southeast are 5.1%, which is lower than one will find in 63.1% of American neighborhoods. Demand for real estate in Greater Wilshire Southeast is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

Notable & Unique Neighborhood Characteristics

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 Greater Wilshire Southeast neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

Greater Wilshire Southeast has the amazing distinction of housing more same sex couples living together than 98.5% of neighborhoods in the U.S. If you are seeking such a neighborhood, NeighborhoodScout's analysis shows that this is one place that you should consider.

Real Estate

If you like crowded places, then you will probably enjoy the the Greater Wilshire Southeast neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 96.8% of neighborhoods in the U.S., with 29,362 people per square mile living here. Being a walkable neighborhood can help increase property values for the simple reason that people enjoy it and value it. To put it plainly, despite our love affair with the automobile, American's enjoy taking to the streets, sidewalks, paths, and courtyards of a place to get a coffee, relax, and take in the sights and sounds. And, according to NeighborhoodScout's exclusive and first quantitative walkable score index, the Greater Wilshire Southeast neighborhood is one of the most walkable neighborhoods in America.

In addition, one of the really unique and interesting things about the look and setting of the Greater Wilshire Southeast neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 75.2% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 95.9% of all neighborhoods in America.

Furthermore, the Greater Wilshire Southeast 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 82.0% 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.

Diversity

Did you know that the Greater Wilshire Southeast neighborhood has more Asian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 45.7% of this neighborhood's residents have Asian ancestry.

Greater Wilshire Southeast is also pretty special linguistically. Significantly, 34.9% 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 100.0% of the neighborhoods in America.

Migration / Stability

The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. What is interesting to note, is that the Greater Wilshire Southeast neighborhood has a greater percentage of residents born in another country (52.8%) than are found in 98.0% of all U.S. neighborhoods.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the Greater Wilshire Southeast 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 63.0% of U.S. neighborhoods. In addition, 9.2% 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 51.3% 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 Greater Wilshire Southeast neighborhood, 47.5% 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 20.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (16.0%), and 14.7% in manufacturing and laborer 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 Greater Wilshire Southeast neighborhood is Korean, spoken by 34.9% of households. Other important languages spoken here include Spanish, English, Tagalog (the first language of the Philippine region) and French.

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 Greater Wilshire Southeast neighborhood in Los Angeles, CA, residents most commonly identify their ethnicity or ancestry as Asian (45.7%). There are also a number of people of Mexican ancestry (12.9%), and residents who report Sub-Saharan African roots (5.9%), and some of the residents are also of African ancestry (4.4%), along with some English ancestry residents (2.8%), among others. In addition, 52.8% of the residents of this neighborhood were born in another country.

Getting to Work

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 Greater Wilshire Southeast neighborhood spend between 30 and 45 minutes commuting one-way to work (39.0% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (63.8%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (7.8%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.

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