Pico Union Northwest median real estate price is $1,467,134, which is more expensive than 81.4% of the neighborhoods in California and 96.0% of the neighborhoods in the U.S.
The average rental price in Pico Union Northwest is currently $2,501, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 77.4% of California neighborhoods.
Pico Union Northwest is a densely urban neighborhood (based on population density) located in Los Angeles, California.
Pico Union Northwest 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 Pico Union Northwest 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.
Vacant apartments or homes are a major fact of life in Pico Union Northwest. The current real estate vacancy rate here is 18.9%. This is higher than the rate of vacancies in 86.9% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.
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 Pico Union Northwest neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
There are more people living in the Pico Union Northwest neighborhood employed as sales and service workers (48.9%) than almost any neighborhood in the country. From fast-food service workers to major sales accounts, sales and service workers make up the largest proportion of our national employment picture. But despite that size and importance nationally, this neighborhood still stands out as unique due to the dominance of people living here who work in such occupations.
More people ride the bus in this neighborhood each day to get to work than 97.9% of U.S. neighborhoods.
90.9% of the real estate in the Pico Union Northwest neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
In addition, if you like crowded places, then you will probably enjoy the the Pico Union Northwest neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 96.5% of neighborhoods in the U.S., with 27,577 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 Pico Union Northwest neighborhood is one of the most walkable neighborhoods in America.
Furthermore, the Pico Union Northwest 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 85.1% 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.
The Pico Union Northwest 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 8.5% of college-friendly places to live in CA.
Did you know that the Pico Union Northwest neighborhood has more Iranian and Asian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 7.0% of this neighborhood's residents have Iranian ancestry and 32.1% have Asian ancestry.
Pico Union Northwest is also pretty special linguistically. Significantly, 32.4% 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.
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 Pico Union Northwest neighborhood has a greater percentage of residents born in another country (65.9%) than are found in 99.5% of all U.S. neighborhoods.
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 Pico Union Northwest 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 84.1% of U.S. neighborhoods. With 23.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 74.7% of U.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 Pico Union Northwest neighborhood, 51.1% 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 20.9% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (14.3%), and 12.6% in clerical, assistant, and tech support occupations.
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 Pico Union Northwest neighborhood is Spanish, spoken by 60.1% of households. Other important languages spoken here include Korean and English.
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 Pico Union Northwest neighborhood in Los Angeles, CA, residents most commonly identify their ethnicity or ancestry as Mexican (40.8%). There are also a number of people of Asian ancestry (32.1%), and residents who report Irania roots (7.0%), and some of the residents are also of German ancestry (2.0%). In addition, 65.9% 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 Pico Union Northwest neighborhood spend between 30 and 45 minutes commuting one-way to work (81.2% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (63.9%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (15.8%) and 8.6% 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.