S Olive St / W 6th St median real estate price is $1,141,376, which is more expensive than 63.6% of the neighborhoods in California and 90.9% of the neighborhoods in the U.S.
The average rental price in S Olive St / W 6th St is currently $4,521, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 83.2% of the neighborhoods in California.
S Olive St / W 6th St is a densely urban neighborhood (based on population density) located in Los Angeles, California.
S Olive St / W 6th St 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 renter occupied. Many of the residences in the S Olive St / W 6th St neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.
S Olive St / W 6th St has a 13.0% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 72.8% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are 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.
People
Of note is NeighborhoodScout's research finding that the S Olive St / W 6th St neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the S Olive St / W 6th St community truly stands out from the rest in this regard.
In addition, one of the most interesting things about the S Olive St / W 6th St neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 64.6% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 99.4% of the neighborhoods in America.
Real Estate
The S Olive St / W 6th St neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 99.9% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
In addition, one of the really unique and interesting things about the look and setting of the S Olive St / W 6th St neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 95.1% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 99.0% of all neighborhoods in America.
Furthermore, if you like crowded places, then you will probably enjoy the the S Olive St / W 6th St neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 96.9% of neighborhoods in the U.S., with 30,124 people per square mile living here. Even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. What many people don't realize is that most of America's premier vacation locations are also very walkable. The S Olive St / W 6th St neighborhood is among the top 5% of American neighborhoods in terms of walkability.
Also of note, renter-occupied real estate is dominant in the S Olive St / W 6th St neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 87.9%, which is higher than 96.2% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.
Modes of Transportation
More people in S Olive St / W 6th St choose to walk to work each day (20.2%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.
Occupations
Executives, managers and professionals make up 70.8% of the workforce in the S Olive St / W 6th St neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 95.9% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
Diversity
Did you know that the S Olive St / W 6th St neighborhood has more Asian and Iranian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 42.0% of this neighborhood's residents have Asian ancestry and 1.5% have Iranian ancestry.
S Olive St / W 6th St is also pretty special linguistically. Significantly, 21.7% of its residents five years old and above primarily speak Korean at home. While this may seem like a small percentage, it is higher than 99.9% of the neighborhoods in America.
Migration / Stability
Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. In the S Olive St / W 6th St neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 97.2% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas. What is also interesting to note, is that the S Olive St / W 6th St neighborhood has a greater percentage of residents born in another country (42.3%) than are found in 95.0% of all U.S. neighborhoods.
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 S Olive St / W 6th St 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 65.1% of the neighborhoods in America. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America's neighborhoods.
What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.
In the S Olive St / W 6th St neighborhood, 70.8% 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 17.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (11.0%).
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 S Olive St / W 6th St neighborhood is English, spoken by 41.4% of households. Other important languages spoken here include Korean, Spanish, Chinese and Langs. of India.
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 S Olive St / W 6th St neighborhood in Los Angeles, CA, residents most commonly identify their ethnicity or ancestry as Asian (42.0%). There are also a number of people of Mexican ancestry (6.4%), and residents who report South American roots (6.4%), and some of the residents are also of Puerto Rican ancestry (6.2%), along with some German ancestry residents (4.4%), among others. In addition, 42.3% 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 S Olive St / W 6th St neighborhood spend under 15 minutes commuting one-way to work (35.9% of working residents), one of the shortest commutes across America.
Here most residents (39.2%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (20.2%) and 6.9% of residents also carpool with coworkers, friends, or neighbors 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.
