What do we mean by a neighborhood?
NeighborhoodScout® uses the official government designation for neighborhoods - the census tract.
Census tracts are small, relatively permanent subdivisions of a county that are defined by the U.S. Census Bureau in conjunction with local authorities all across the country to define real neighborhoods that are bounded to contain areas with homogeneous population characteristics (including economic status, lifestyle, and living conditions). Census tracts usually have 4,000 persons, but can range between 1,500 and 8,000 persons. This is the most fine-grained area for which detailed information is made available from the government, to protect the individual privacy of each of us. Because census tracts are based on population, they vary in size depending on the density of settlement. In urban areas, they are small, and in rural areas they can cover an entire small town or even a few small towns in very rural areas.
Since census tracts are subdivisions of a county, we did a spatial overlay of the census tracts onto city and town boundaries using a geographic information system to properly assign each census tract to its appropriate city or town. Then we named each census tract to the local colloquially recognized neighborhood name for that spot (e.g., Boston, MA (Dorchester). If there was not a name available, we named the census tract by the largest street intersection in the census tract (e.g., Worcester, MA (Lincoln St/Plantation St)
Why we don't use Zip Codes as neighborhoods
Zip codes were developed by the Postal Service for the purpose of delivering mail, but were never intended to define coherent neighborhoods. In addition, Zip Codes can have as many as 10 distinctly different census tracts contained within them. When distinct census tracts are blended together in a single Zip Code, the data reflects their average conditions and often gives a false sense of the area. The result is that potentially great matching neighborhoods can be missed, and erroneous matches can also be produced and delivered to you.
Using census tracts makes great matches possible, and helps people find the areas that are best for them and their families. Because we are committed to providing the highest possible quality and finding the neighborhoods that best meet your criteria, we use census tracts. And, as always, we show you the actual street map of the neighborhood so you know exactly where your best matching neighborhood is located.
What is a Condition Alert?
A condition alert is a condition in the neighborhood that triggers an alert. NeighborhoodScout contains condition alerts to highlight conditions that are extreme, whether good or bad. This helps answer crucial questions about the state of the neighborhood being evaluated, such as:
What are the risks of violent crime here?
Is the risk of home break-ins or other property crimes increasing?
Does real estate here hold its value?
Are the trends in local vacancies or unemployment concerning?
...and dozens more.
Information at a glance that you need to know to invest, appraise or finance a property.
E 51st St / Wall St median real estate price is $720,288, which is more expensive than 36.1% of the neighborhoods in California and 81.8% of the neighborhoods in the U.S.
The average rental price in E 51st St / Wall St is currently $2,132, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 83.5% of California neighborhoods.
E 51st St / Wall St is a densely urban neighborhood (based on population density) located in Los Angeles, California.
E 51st St / Wall St real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and townhomes. Most of the residential real estate is renter occupied. Many of the residences in the E 51st St / Wall St 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 E 51st St / Wall St, the current vacancy rate is 2.3%, which is a lower rate of vacancies than 84.4% of all neighborhoods in the U.S. This means that the housing supply in E 51st St / Wall St 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 E 51st St / Wall St neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Modes of Transportation
Our research revealed that more commuters here take the bus to work (16.8% ride the bus) than 97.9% of all American neighborhoods. If you like the idea of leaving your car and home and hopping the bus to work, this might be a good neighborhood for you to consider.
Real Estate
If you like crowded places, then you will probably enjoy the the E 51st St / Wall St neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 96.8% of neighborhoods in the U.S., with 29,085 people per square mile living here. Being a walkable neighborhood can help increase property values for the simple reason that people enjoy it and value it. To put it plainly, despite our love affair with the automobile, American's enjoy taking to the streets, sidewalks, paths, and courtyards of a place to get a coffee, relax, and take in the sights and sounds. And, according to NeighborhoodScout's exclusive and first quantitative walkable score index, the E 51st St / Wall St neighborhood is one of the most walkable neighborhoods in America.
Diversity
Did you know that the E 51st St / Wall St neighborhood has more Mexican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 67.6% of this neighborhood's residents have Mexican ancestry.
E 51st St / Wall St is also pretty special linguistically. Significantly, 88.4% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 99.4% of all U.S. neighborhoods.
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 E 51st St / Wall St 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 73.1% of U.S. neighborhoods. With 25.9% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 76.7% 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 E 51st St / Wall St neighborhood, 37.2% of the working population is employed in manufacturing and laborer 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 32.7% of the residents employed. Other residents here are employed in executive, management, and professional occupations (16.7%), and 12.6% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the E 51st St / Wall St neighborhood is Spanish, spoken by 88.4% of households. Some people also speak English (10.8%).
Ethnicity / Ancestry
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 E 51st St / Wall St neighborhood in Los Angeles, CA, residents most commonly identify their ethnicity or ancestry as Mexican (67.6%). In addition, 41.8% 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 E 51st St / Wall St neighborhood spend between 45 minutes and one hour commuting one-way to work (36.0% of working residents), longer and tougher than most commutes in America.
Here most residents (54.7%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (20.4%) and 16.8% of residents also ride the bus 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.
SCOUT’s patented match algorithm identifies the most similar neighborhoods to a subject location, and quantifies the similarity to the subject location. This allows analysts to identify the most similar neighborhoods in a local market area for appraisals, investments, and research.
The algorithm uses 273 neighborhood conditions, identifies the dominant dimensions underlying the conditions and calculates the similarity. This captures the true culture and character of locations, economic conditions, and trends.
The closer to 100% means the locations are nearly identical. 80% is a very good, but not excellent match, and so forth.
