Lake View Terrace median real estate price is $1,056,496, which is more expensive than 65.5% of the neighborhoods in California and 91.9% of the neighborhoods in the U.S.
The average rental price in Lake View Terrace is currently $3,537, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 61.5% of the neighborhoods in California.
Lake View Terrace is a suburban neighborhood (based on population density) located in Los Angeles, California.
Lake View Terrace real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and small apartment buildings. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Lake View Terrace neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 2000 and the present.
In Lake View Terrace, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Lake View Terrace is very tight compared to the demand for property here.
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.
This neighborhood has the distinction of having one of the lowest real estate vacancy rates of any neighborhood in America. With just 0.0% of the real estate vacant, this indicates an exceptionally strong demand for real estate in the Lake View Terrace neighborhood, and/or an issue with creating enough supply for the demand. This could have the effect of increasing real estate prices, increasing supply to meet demand, or both.
In addition, most neighborhoods have a mixture of ages of homes in them, from new to old, but this neighborhood stands out due to its concentration of residential real estate built in one time frame: from 1940 through 1969, generally considered older, well-established homes. This was a busy time in America for home construction. After the end of World War II, as GIs came home, bought newly built homes on the edges of cities with the help of the GI Bill, and began their families. This housing era generally coincides with the 'Baby Boom' generation (1945 - 1964), and many baby boomers grew up in homes built in this era. But what is so interesting about the Lake View Terrace neighborhood, is that an incredible 87.6% of the homes here were built in this era. So when you walk its streets or drive through, this neighborhood has a look and feel that harkens to that era in American life, a very important slice of Americana.
The Lake View Terrace neighborhood is a great option for families, as revealed by NeighborhoodScout's research on this neighborhood. The combination of top public schools, low crime rates, and owner-occupied single family homes, make this neighborhood among the top 6.9% of family-friendly neighborhoods in the state of California. Many other families also live here, making it easy to socialize and develop a sense of community. In addition, families here highly value education, as is reflected by the strength of the local schools. In addition to being an excellent choice for families with school-aged children, this neighborhood is also a very good choice for active retirees.
Did you know that the Lake View Terrace neighborhood has more Armenian and Croatian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 9.9% of this neighborhood's residents have Armenian ancestry and 0.9% have Croatian ancestry.
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. More residents of the Lake View Terrace neighborhood live here today that also were living in this same neighborhood five years ago than is found in 98.5% of U.S. neighborhoods. This neighborhood is really made up of people who know each other, don't move often, and have lived here in this very neighborhood for quite a while.
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 Lake View Terrace neighborhood in Los Angeles are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 84.2% of the neighborhoods in America. In addition, 6.5% 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 58.9% 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 Lake View Terrace neighborhood, 65.3% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 13.0% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (12.2%), and 9.5% in manufacturing and laborer occupations.
The most common language spoken in the Lake View Terrace neighborhood is English, spoken by 74.5% of households. Some people also speak Spanish (21.5%).
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 Lake View Terrace neighborhood in Los Angeles, CA, residents most commonly identify their ethnicity or ancestry as Mexican (22.2%). There are also a number of people of Armenian ancestry (9.9%), and residents who report German roots (9.8%), and some of the residents are also of Irish ancestry (5.0%), along with some Norwegian ancestry residents (4.0%), among others. In addition, 10.1% 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 Lake View Terrace neighborhood spend between 45 minutes and one hour commuting one-way to work (34.3% of working residents), longer and tougher than most commutes in America.
Here most residents (80.7%) 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 (6.5%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.