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