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Real Estate Prices & Overview

Park Estates median real estate price is $1,269,572, which is more expensive than 68.0% of the neighborhoods in California and 92.1% of the neighborhoods in the U.S.

The average rental price in Park Estates is currently $2,686, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 68.6% of California neighborhoods.

Park Estates is an urban neighborhood (based on population density) located in Long Beach, California.

Park Estates 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 single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Park Estates neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

Real estate vacancies in Park Estates are 5.9%, which is lower than one will find in 60.6% of American neighborhoods. Demand for real estate in Park Estates 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.

Notable & Unique Neighborhood Characteristics

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.

Diversity

Did you know that the Park Estates neighborhood has more Armenian and Iranian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.8% of this neighborhood's residents have Armenian ancestry and 4.3% have Iranian ancestry.

Park Estates is also pretty special linguistically. Significantly, 1.1% of its residents five years old and above primarily speak Persian at home. While this may seem like a small percentage, it is higher than 98.0% of the neighborhoods in America.

The Neighbors

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 Park Estates neighborhood in Long Beach are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 53.1% of the neighborhoods in America. With 22.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 72.3% of U.S. neighborhoods.

A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

In the Park Estates neighborhood, 53.2% 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 22.4% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (17.9%), and 6.5% in manufacturing and laborer 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 Park Estates neighborhood is English, spoken by 82.2% of households. Other important languages spoken here include Spanish and African languages.

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 Park Estates neighborhood in Long Beach, CA, residents most commonly identify their ethnicity or ancestry as English (12.6%). There are also a number of people of Irish ancestry (12.4%), and residents who report German roots (11.3%), and some of the residents are also of Mexican ancestry (10.0%), along with some Asian ancestry residents (6.5%), among others.

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 Park Estates neighborhood spend between 30 and 45 minutes commuting one-way to work (34.9% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (68.7%) 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.


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