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Real Estate Prices & Overview

Koreatown North median real estate price is $2,676,598, which is more expensive than 94.2% of the neighborhoods in California and 98.9% of the neighborhoods in the U.S.

The average rental price in Koreatown North is currently $2,502, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 74.4% of California neighborhoods.

Koreatown North is a densely urban neighborhood (based on population density) located in Los Angeles, California.

Koreatown North 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 single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Koreatown North 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 1970 and 1999.

Real estate vacancies in Koreatown North are 4.5%, which is lower than one will find in 69.8% of American neighborhoods. Demand for real estate in Koreatown North 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 Koreatown North neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Occupations

From major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the Koreatown North neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 98.5% of all American neighborhoods.

Modes of Transportation

Our research revealed that more commuters here take the bus to work (19.3% ride the bus) than 98.5% of all American neighborhoods. If you like the idea of leaving your car and home and hopping the bus to work, this might be a good neighborhood for you to consider.

Real Estate

The Koreatown North 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 86.5% 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.

In addition, if you like crowded places, then you will probably enjoy the the Koreatown North neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 95.8% of neighborhoods in the U.S., with 23,645 people per square mile living here. 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 Koreatown North neighborhood is among the top 5% of American neighborhoods in terms of walkability.

Furthermore, 86.9% of the real estate in the Koreatown North neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.

Also of note, one of the really unique and interesting things about the look and setting of the Koreatown North neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 71.5% 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 95.3% of all 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. What is interesting to note, is that the Koreatown North neighborhood has a greater percentage of residents born in another country (51.6%) than are found in 98.0% of all U.S. neighborhoods.

Diversity

Did you know that the Koreatown North neighborhood has more Eastern European ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.8% of this neighborhood's residents have Eastern European ancestry.

Koreatown North is also pretty special linguistically. Significantly, 9.9% 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 99.6% of the neighborhoods in America.

The Neighbors

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 Koreatown North 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 72.6% of U.S. neighborhoods. With 42.7% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 90.6% of U.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 Koreatown North neighborhood, 44.9% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 33.8% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (11.0%), and 10.3% 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 Koreatown North neighborhood is Spanish, spoken by 44.5% of households. Other important languages spoken here include English, Korean and Tagalog (the first language of the Philippine region).

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Koreatown North neighborhood in Los Angeles, CA, residents most commonly identify their ethnicity or ancestry as Mexican (31.5%). There are also a number of people of Asian ancestry (23.4%), and residents who report German roots (3.5%), and some of the residents are also of Irish ancestry (2.5%), along with some Eastern European ancestry residents (1.8%), among others. In addition, 51.6% of the residents of this neighborhood were born in another country.

Getting to Work

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 North neighborhood spend between 45 minutes and one hour commuting one-way to work (29.7% of working residents), longer and tougher than most commutes in America.

Here most residents (53.7%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (19.3%) and 10.3% of residents also carpool with coworkers, friends, or neighbors 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.


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