Koreatown East median real estate price is $1,220,499, which is more expensive than 73.3% of the neighborhoods in California and 94.2% of the neighborhoods in the U.S.
The average rental price in Koreatown East is currently $4,106, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 75.3% of the neighborhoods in California.
Koreatown East is a densely urban neighborhood (based on population density) located in Los Angeles, California.
Koreatown East 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 Koreatown East neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.
Koreatown East has a 11.6% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 68.2% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.
When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.
People
Of note is NeighborhoodScout's research finding that the Koreatown East 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 Koreatown East community truly stands out from the rest in this regard.
In addition, neighborhoodScout's analysis shows that the Koreatown East neighborhood has a greater concentration of residents currently enrolled in college than 97.3% of the neighborhoods in the U.S. With 16.8% of the population here attending college, this is very much a college-focused neighborhood.
Also, the Koreatown East neighborhood stands out within California for its college student friendly environment. NeighborhoodScout's analysis reveals that this neighborhood is home to a number of college students, is relatively walkable, and above average in safety. In combination, this makes it stand out for a good place for college students to consider. Because a number of college students live here, this neighborhood may be close to a college campus and offer certain amenities nearby geared towards the student body. While it's not an environment for everyone, ambitious scholars can enjoy seasonal excitement between semesters and school breaks, and parents can rest easy knowing that the area has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 5.4% of college-friendly places to live in CA.
Real Estate
The real estate in the Koreatown East 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, 98.4% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 99.7% of American neighborhoods.
In addition, the Koreatown East 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 98.5% 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.
Furthermore, renter-occupied real estate is dominant in the Koreatown East neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 97.0%, which is higher than 98.5% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.
Also of note, the Koreatown East neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 31,571 persons per square mile in the neighborhood, it is more packed with people than 97.1% of the nation's neighborhoods.
Diversity
Did you know that the Koreatown East neighborhood has more Asian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 74.9% of this neighborhood's residents have Asian ancestry.
Koreatown East is also pretty special linguistically. Significantly, 43.4% of its residents five years old and above primarily speak Korean at home. This is a higher percentage than 100.0% of all U.S. neighborhoods.
Migration / Stability
Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Koreatown East neighborhood. In the Koreatown East neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 97.8% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas. What is also interesting to note, is that the Koreatown East neighborhood has a greater percentage of residents born in another country (65.3%) than are found in 99.6% of all U.S. neighborhoods.
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 Koreatown East 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 59.3% 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.
A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.
In the Koreatown East neighborhood, 45.5% 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 28.8% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (17.3%), and 8.5% 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 Koreatown East neighborhood is Korean, spoken by 43.4% of households. Other important languages spoken here include English, Chinese, Spanish and Japanese.
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 Koreatown East neighborhood in Los Angeles, CA, residents most commonly identify their ethnicity or ancestry as Asian (74.9%). There are also a number of people of Mexican ancestry (5.2%), and residents who report Irish roots (4.6%), and some of the residents are also of South American ancestry (3.1%), along with some Italian ancestry residents (1.8%), among others. In addition, 65.3% 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 Koreatown East neighborhood spend between 30 and 45 minutes commuting one-way to work (30.5% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (46.9%) 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 (9.5%) and 7.8% 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.
