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Real Estate Prices & Overview

Fair Ave / Sherman Way median real estate price is $754,962, which is more expensive than 39.6% of the neighborhoods in California and 83.2% of the neighborhoods in the U.S.

The average rental price in Fair Ave / Sherman Way is currently $2,579, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 70.5% of California neighborhoods.

Fair Ave / Sherman Way is a densely urban neighborhood (based on population density) located in Los Angeles, California.

Fair Ave / Sherman Way 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 Fair Ave / Sherman Way 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 Fair Ave / Sherman Way are 3.9%, which is lower than one will find in 74.5% of American neighborhoods. Demand for real estate in Fair Ave / Sherman Way 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 Fair Ave / Sherman Way neighborhood has more Armenian and Mexican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.5% of this neighborhood's residents have Armenian ancestry and 61.4% have Mexican ancestry.

Fair Ave / Sherman Way is also pretty special linguistically. Significantly, 76.3% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 98.2% of all U.S. neighborhoods.

Migration / Stability

The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. What is interesting to note, is that the Fair Ave / Sherman Way neighborhood has a greater percentage of residents born in another country (51.0%) than are found in 97.9% 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 Fair Ave / Sherman Way 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 81.5% of U.S. neighborhoods. With 27.2% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 78.1% 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 Fair Ave / Sherman Way neighborhood, 33.3% 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 32.8% of the residents employed. Other residents here are employed in executive, management, and professional occupations (19.2%), and 14.8% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Fair Ave / Sherman Way neighborhood is Spanish, spoken by 76.3% of households. Some people also speak English (13.8%).

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 Fair Ave / Sherman Way neighborhood in Los Angeles, CA, residents most commonly identify their ethnicity or ancestry as Mexican (61.4%). There are also a number of people of Armenian ancestry (3.5%), and residents who report German roots (3.3%), and some of the residents are also of English ancestry (3.1%), along with some Asian ancestry residents (1.4%), among others. In addition, 51.0% 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 Fair Ave / Sherman Way neighborhood spend between 15 and 30 minutes commuting one-way to work (31.3% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (68.3%) 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 (17.4%) and 5.1% 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.


Real Estate includes:
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Economics & Demographics include:
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Household Types
Commute To Work
Migration & Mobility
Race & Ethnic Diversity
Employment Industries & Occupations
Income & Unemployment Rate
Higher Education Attainment
Crime includes:
Neighborhood Crime Index
Crimes Per Square Mile
Property Crime Comparison
Violent Crime Comparison
Schools include:
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