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Real Estate Prices & Overview

Gramercy Park North median real estate price is $858,600, which is more expensive than 50.1% of the neighborhoods in California and 87.2% of the neighborhoods in the U.S.

The average rental price in Gramercy Park North is currently $2,215, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 81.2% of California neighborhoods.

Gramercy Park North is an urban neighborhood (based on population density) located in Los Angeles, California.

Gramercy Park North real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Gramercy Park North 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.

Real estate vacancies in Gramercy Park North are 4.8%, which is lower than one will find in 67.9% of American neighborhoods. Demand for real estate in Gramercy Park North 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

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 Gramercy Park North neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Diversity

Did you know that the Gramercy Park North neighborhood has more Sub-Saharan African and African ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 15.6% of this neighborhood's residents have Sub-Saharan African ancestry and 8.4% have African ancestry.

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 Gramercy Park North neighborhood in Los Angeles are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 65.2% of the neighborhoods in America. With 36.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 86.8% 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 Gramercy Park North neighborhood, 32.7% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 24.1% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (21.8%), and 21.4% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Gramercy Park North neighborhood is English, spoken by 67.1% of households. Some people also speak Spanish (29.8%).

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 Gramercy Park North neighborhood in Los Angeles, CA, residents most commonly identify their ethnicity or ancestry as Mexican (22.0%). There are also a number of people of Sub-Saharan African ancestry (15.6%), and residents who report African roots (8.4%), and some of the residents are also of German ancestry (3.5%), along with some Dominican ancestry residents (2.7%), among others. In addition, 12.7% of the residents of this neighborhood were born in another country.

Getting to Work

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 Gramercy Park North neighborhood spend between 30 and 45 minutes commuting one-way to work (41.9% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (74.5%) 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 (7.6%) . 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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