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Real Estate Prices & Overview

Pico Union Southwest median real estate price is $774,444, which is more expensive than 42.4% of the neighborhoods in California and 82.1% of the neighborhoods in the U.S.

The average rental price in Pico Union Southwest is currently $2,102, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 85.5% 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.

In Pico Union Southwest, the current vacancy rate is 2.5%, which is a lower rate of vacancies than 83.5% of all neighborhoods in the U.S. This means that the housing supply in Pico Union Southwest is very tight compared to the demand for property here.

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 Pico Union Southwest 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 Pico Union Southwest 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

More people ride the bus in this neighborhood each day to get to work than 97.8% of U.S. neighborhoods.

Real Estate

91.7% 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.

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 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 (54.7%) than are found in 98.5% of all U.S. neighborhoods.

Diversity

Significantly, 75.7% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 98.1% of all U.S. neighborhoods.

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 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 76.5% of U.S. neighborhoods. With 22.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 71.8% 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 Pico Union Southwest 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 manufacturing and laborer occupations, with 32.4% of the residents employed. Other residents here are employed in executive, management, and professional occupations (13.5%), and 9.2% 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 Pico Union Southwest neighborhood is Spanish, spoken by 75.7% of households. Other important languages spoken here include English and Korean.

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 Pico Union Southwest neighborhood in Los Angeles, CA, residents most commonly identify their ethnicity or ancestry as Mexican (39.5%). There are also a number of people of Asian ancestry (6.5%), and residents who report South American roots (3.0%), and some of the residents are also of Sub-Saharan African ancestry (2.1%), along with some African ancestry residents (1.6%), among others. In addition, 54.7% of the residents of this neighborhood were born in another country.

Getting to Work

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 (47.8% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (65.9%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (16.8%) and 9.3% 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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