Pico Union Southwest median real estate price is $1,143,569, which is more expensive than 70.0% of the neighborhoods in California and 93.2% of the neighborhoods in the U.S.
The average rental price in Pico Union Southwest is currently $1,872, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 92.3% of California neighborhoods.
Pico Union Southwest is a densely urban neighborhood (based on population density) located in Los Angeles, California.
Pico Union Southwest 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 Southwest 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.
Real estate vacancies in Pico Union Southwest are 2.8%, which is lower than one will find in 79.7% of American neighborhoods. Demand for real estate in Pico Union Southwest 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.
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.
There are more people living in the Pico Union Southwest neighborhood employed as sales and service workers (58.5%) 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.
Furthermore, it used to be that most Americans lived on the farm, or otherwise made their living from the land, the forests, or the sea. With global trade and an economy increasingly based on providing services to one another, fewer people farm, fish or harvest timber now than at any time in American history. But according to NeighborhoodScout's leading analysis, the Pico Union Southwest neighborhood stands apart from most American neighborhood due to the proportion of its residents still working in these fields. With 3.7% of the workforce so employed, this neighborhood has a greater concentration of such workers than 95.6% of U.S. neighborhoods.
More people ride the bus in this neighborhood each day to get to work than 97.2% of U.S. neighborhoods.
89.8% of the real estate in the Pico Union Southwest neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
Significantly, 85.0% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 99.2% of all U.S. neighborhoods.
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 Pico Union Southwest neighborhood. What is interesting to note, is that the Pico Union Southwest neighborhood has a greater percentage of residents born in another country (60.0%) than are found in 99.1% 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 Pico Union Southwest 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 74.3% of U.S. neighborhoods. With 38.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 88.6% 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 Southwest neighborhood, 41.5% 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 32.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (12.6%), and 9.5% in executive, management, and professional 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 Southwest neighborhood is Spanish, spoken by 85.0% of households. Other important languages spoken here include English and Korean.
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 Pico Union Southwest neighborhood in Los Angeles, CA, residents most commonly identify their ethnicity or ancestry as Mexican (42.3%). There are also a number of people of Asian ancestry (5.7%), and residents who report South American roots (4.2%), and some of the residents are also of Sub-Saharan African ancestry (2.1%), along with some African ancestry residents (1.4%), among others. In addition, 60.0% of the residents of this neighborhood were born in another country.
How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Pico Union Southwest neighborhood spend between 30 and 45 minutes commuting one-way to work (65.6% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (78.2%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (13.7%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.