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Real Estate Prices & Overview

Panorama City South median real estate price is $897,970, which is more expensive than 53.5% of the neighborhoods in California and 88.1% of the neighborhoods in the U.S.

The average rental price in Panorama City South is currently $2,402, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 77.3% of California neighborhoods.

Panorama City South is an urban neighborhood (based on population density) located in Los Angeles, California.

Panorama City South real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Panorama City South neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

In Panorama City South, the current vacancy rate is 2.3%, which is a lower rate of vacancies than 84.6% of all neighborhoods in the U.S. This means that the housing supply in Panorama City South is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

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.

Real Estate

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 Panorama City South neighborhood, is that an incredible 83.7% 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.

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 Panorama City South neighborhood have a highly unusual car ownership. Residents of this neighborhood must really love automobiles. NeighborhoodScout's Analysis reveals that 36.0% of the households here have four, five, or more cars. That is more cars per household than in 96.6% of the neighborhoods in the nation.

Diversity

Did you know that the Panorama City South neighborhood has more Armenian and Asian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 11.9% of this neighborhood's residents have Armenian ancestry and 25.2% have Asian ancestry.

Panorama City South is also pretty special linguistically. Significantly, 13.5% of its residents five years old and above primarily speak Tagalog, which is the first language of the Philippine region, at home. While this may seem like a small percentage, it is higher than 99.7% of the neighborhoods in America.

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 Panorama City South neighborhood. What is interesting to note, is that the Panorama City South neighborhood has a greater percentage of residents born in another country (51.6%) 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 Panorama City South 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 42.7% of the neighborhoods in America. With 17.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 64.1% of U.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 Panorama City South neighborhood, 31.9% 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 manufacturing and laborer occupations, with 27.3% of the residents employed. Other residents here are employed in executive, management, and professional occupations (25.3%), and 14.6% 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 Panorama City South neighborhood is Spanish, spoken by 41.4% of households. Other important languages spoken here include English and Tagalog (the first language of the Philippine region).

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 Panorama City South neighborhood in Los Angeles, CA, residents most commonly identify their ethnicity or ancestry as Mexican (31.1%). There are also a number of people of Asian ancestry (25.2%), and residents who report Armenian roots (11.9%), and some of the residents are also of South American ancestry (3.1%), along with some Russian ancestry residents (1.7%), 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 Panorama City South neighborhood spend between 15 and 30 minutes commuting one-way to work (35.6% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (77.2%) 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 (10.0%) and 6.8% 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.


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