Point Dume / Paradise Cove median real estate price is $4,105,587, which is more expensive than 98.7% of the neighborhoods in California and 99.8% of the neighborhoods in the U.S.
The average rental price in Point Dume / Paradise Cove is currently $5,615, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 95.1% of the neighborhoods in California.
Point Dume / Paradise Cove is a suburban neighborhood (based on population density) located in Malibu, California. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).
Point Dume / Paradise Cove real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and mobile homes. Most of the residential real estate is owner occupied. Many of the residences in the Point Dume / Paradise Cove neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.
Vacant apartments or homes are a major fact of life in Point Dume / Paradise Cove. The current real estate vacancy rate here is 33.3%. This is higher than the rate of vacancies in 96.3% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (17.6%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.
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.
Point Dume / Paradise Cove is a neighborhood that is on the ocean, a bay, or inlet. Many times, such places have amenities that bring locals and visitors to the waterfront for recreational activities or to check out the scenery. In some densely populated areas that are less financially well-off, the neighborhood waterfront can be relatively industrial and less open to recreation. In addition to being coastal, Point Dume / Paradise Cove is a very nautical neighborhood, meaning that it is somewhat historic, walkable, densely populated and on the water. This gives the neighborhood a very nautical feel, with some seaside and shipping feel, which some may really enjoy the sights and sounds of.
In addition, the real estate in this neighborhood consists of more mobile homes than 96.8% of all neighborhoods in America, with 35.6% of the occupied housing here being classified as mobile homes. So if you are looking for a mobile home, or you like the look and feel of mobile home parks, this neighborhood might have the setting you desire.
Furthermore, vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 33.3% of the residential real estate vacant, the Point Dume / Paradise Cove neighborhood claims the distinction of having a higher vacancy rate than 96.3% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.
In the Point Dume / Paradise Cove neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 34.6% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 97.4% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.
If you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 4.3% of America's neighborhoods are wealthier than the Point Dume / Paradise Cove neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe.
In addition, the Point Dume / Paradise Cove neighborhood is considered a solid choice for executive lifestyles. NeighborhoodScout's analysis ranks it as better than 92.4% of California neighborhoods for executive living, based on the wealthy, educated professionals, executives, and managers who choose to reside here, the spacious homes that are prominent features of the real estate in the neighborhood, and the high real estate appreciation rates found here relative to other neighborhoods in the state.
Did you know that the Point Dume / Paradise Cove neighborhood has more Lithuanian and Swedish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.3% of this neighborhood's residents have Lithuanian ancestry and 10.0% have Swedish ancestry.
Point Dume / Paradise Cove is also pretty special linguistically. Significantly, 0.8% of its residents five years old and above primarily speak Japanese at home. While this may seem like a small percentage, it is higher than 96.6% of the neighborhoods in America.
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 Point Dume / Paradise Cove neighborhood in Malibu are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 95.7% of the neighborhoods in America. With 25.8% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 77.3% 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 Point Dume / Paradise Cove neighborhood, 64.2% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 15.8% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (14.4%), and 5.6% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the Point Dume / Paradise Cove neighborhood is English, spoken by 87.0% of households. Some people also speak Spanish (3.0%).
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 Point Dume / Paradise Cove neighborhood in Malibu, CA, residents most commonly identify their ethnicity or ancestry as English (17.9%). There are also a number of people of Swedish ancestry (10.0%), and residents who report German roots (9.9%), and some of the residents are also of Irish ancestry (6.8%), along with some Italian ancestry residents (5.6%), among others. In addition, 12.8% 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 Point Dume / Paradise Cove neighborhood spend between 45 minutes and one hour commuting one-way to work (35.6% of working residents), longer and tougher than most commutes in America.
Here most residents (61.2%) drive alone in a private automobile to get to work. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
