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Los Angeles, CA (Pico Union South)







Real Estate Prices & Overview

Pico Union South median real estate price is $1,404,837, which is more expensive than 80.4% of the neighborhoods in California and 96.0% of the neighborhoods in the U.S.

The average rental price in Pico Union South is currently $2,245, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 81.6% of California neighborhoods.

Pico Union South is a densely urban neighborhood (based on population density) located in Los Angeles, California.

Pico Union South 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 small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Pico Union South 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.

Home and apartment vacancy rates are 8.0% in Pico Union South. NeighborhoodScout analysis shows that this rate is lower than 48.3% of the neighborhoods in the nation, approximately near the middle range for vacancies.

Notable & Unique Neighborhood Characteristics

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.

Occupations

From major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the Pico Union South neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 99.3% of all American neighborhoods.

Modes of Transportation

Our research revealed that more commuters here take the bus to work (20.6% ride the bus) than 98.7% 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 Pico Union South neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 96.0% of neighborhoods in the U.S., with 24,717 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 Pico Union South neighborhood is one of the most walkable neighborhoods in America.

In addition, the Pico Union South 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 86.6% 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.

Furthermore, renter-occupied real estate is dominant in the Pico Union South neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 88.4%, which is higher than 96.3% 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.

Also of note, corner bodegas, stores on the first floor and apartments above, former grand Victorian residences converted into apartments, three-deckers built shoulder-to-shoulder, duplexes. Such building types define the real estate of neighborhoods dominated by small 2, 3, and 4 unit apartment buildings. Many are in older core neighborhoods of Eastern and Midwestern cities, or historic town centers in their hinterlands. If you wax romantic about the look and feel of such neighborhoods, with fresh pizza, falafel and an independent florist at the corner, then you might find the Pico Union South neighborhood worth a close look. This neighborhood is an absolutely outstanding example of the dominance of small 2, 3, and 4 unit apartment buildings compared to neighborhoods across the nation, as they make up a substantial portion of this neighborhood's real estate stock. In fact, no less than 36.2% of the real estate here is made up of such dwellings, which is higher than 96.3% of all U.S. neighborhoods.

Finally, if you find historic homes and neighborhoods attractive, you love the details, the history, and the charm, then you are sure to be interested in this neighborhood. With 60.6% of the residential real estate in the Pico Union South neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 96.6% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.

People

The Pico Union South neighborhood is unique for having just 7.0% of adults here having earned a bachelor's degree. This is a lower rate of college graduates than NeighborhoodScout found in 95.1% of America's neighborhoods.

Migration / Stability

Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Pico Union South neighborhood. More residents of the Pico Union South neighborhood live here today that also were living in this same neighborhood five years ago than is found in 97.3% of U.S. neighborhoods. This neighborhood is really made up of people who know each other, don't move often, and have lived here in this very neighborhood for quite a while. What is interesting to note, is that the Pico Union South neighborhood has a greater percentage of residents born in another country (51.5%) than are found in 98.0% of all U.S. neighborhoods.

Diversity

Did you know that the Pico Union South neighborhood has more Mexican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 54.0% of this neighborhood's residents have Mexican ancestry.

Pico Union South is also pretty special linguistically. Significantly, 84.9% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 99.1% 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 Pico Union South 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 83.2% of U.S. neighborhoods. With 46.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 92.4% 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 Pico Union South neighborhood, 49.9% 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 26.0% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (14.8%), and 9.3% in executive, management, and professional 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 Pico Union South neighborhood is Spanish, spoken by 84.9% of households. Other important languages spoken here include English, Tagalog (the first language of the Philippine region) and Korean.

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 Pico Union South neighborhood in Los Angeles, CA, residents most commonly identify their ethnicity or ancestry as Mexican (54.0%). There are also a number of people of Asian ancestry (6.0%). In addition, 51.5% 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 Pico Union South neighborhood spend between 30 and 45 minutes commuting one-way to work (40.2% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (59.5%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (20.6%) and 11.1% 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.


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