S Broadway / W 3rd St median real estate price is $864,247, which is more expensive than 50.7% of the neighborhoods in California and 87.2% of the neighborhoods in the U.S.
The average rental price in S Broadway / W 3rd St is currently $3,108, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 53.2% of California neighborhoods.
S Broadway / W 3rd St is a densely urban neighborhood (based on population density) located in Los Angeles, California.
S Broadway / W 3rd St real estate is primarily made up of small (studio to two 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 Broadway / W 3rd 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 2000 and the present.
Vacant apartments or homes are a major fact of life in S Broadway / W 3rd St. The current real estate vacancy rate here is 27.1%. This is higher than the rate of vacancies in 93.2% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.
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.
People
In a nation where 1 out of every 4 children lives in poverty, the S Broadway / W 3rd St neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.
In addition, one of the most interesting things about the S Broadway / W 3rd St neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 74.7% 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 99.9% of the neighborhoods in America.
Real Estate
The S Broadway / W 3rd 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 100.0% 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 Broadway / W 3rd St neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 99.0% 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 99.8% of all neighborhoods in America.
Furthermore, 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 Broadway / W 3rd 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 Broadway / W 3rd St neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 89.3%, which is higher than 96.6% 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.
Finally, do you watch 'This Old House' on Public Television? Do you love the idea of fixing up a Colonial or Victorian era home, complete with the charm of yesteryear? Do you like to stroll or drive streets lined with gracious older residences? If you found yourself nodding yes to any of these questions, you are going to be interested in this unique neighborhood. The S Broadway / W 3rd St neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 86.9% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 99.9% of the neighborhoods in the United States.
Modes of Transportation
More people in S Broadway / W 3rd St choose to walk to work each day (18.6%) 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.
Also, would you like to be able to ride your bike to work? If you are attracted to the idea of getting a little exercise of the two-wheeled type while reducing your carbon footprint, bicycling to work might be the answer. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. NeighborhoodScout's analysis revealed that the S Broadway / W 3rd St neighborhood is a fantastic option for bicycle commuters, as 4.7% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 97.9% of the neighborhoods in America.
Finally, a unique way of commuting is simply not to. And in the S Broadway / W 3rd St neighborhood, analysis shows that 31.5% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 97.6% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.
Car Ownership
American households most often have a car, and regularly they have two or three. But households in the S Broadway / W 3rd St neighborhood buck this trend. 32.8% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.5% of U.S. neighborhoods.
Diversity
Did you know that the S Broadway / W 3rd St neighborhood has more Greek and Iranian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 8.3% of this neighborhood's residents have Greek ancestry and 6.4% have Iranian ancestry.
S Broadway / W 3rd St is also pretty special linguistically. Significantly, 1.0% of its residents five years old and above primarily speak Persian at home. While this may seem like a small percentage, it is higher than 97.7% 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 Broadway / W 3rd St neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 98.5% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
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 S Broadway / W 3rd St neighborhood in Los Angeles are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 43.4% 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.
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 S Broadway / W 3rd St neighborhood, 60.3% 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 24.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (13.3%), and 2.1% in manufacturing and laborer occupations.
Languages
The most common language spoken in the S Broadway / W 3rd St neighborhood is English, spoken by 79.8% of households. Some people also speak Spanish (6.0%).
Ethnicity / Ancestry
Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.
In the S Broadway / W 3rd St neighborhood in Los Angeles, CA, residents most commonly identify their ethnicity or ancestry as Italian (20.7%). There are also a number of people of Mexican ancestry (17.6%), and residents who report German roots (12.9%), and some of the residents are also of French ancestry (12.2%), along with some Greek ancestry residents (8.3%), among others. In addition, 19.8% of the residents of this neighborhood were born in another country.
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 S Broadway / W 3rd St neighborhood spend between 45 minutes and one hour commuting one-way to work (38.3% of working residents), longer and tougher than most commutes in America.
Here most residents (34.9%) 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 (18.6%) and 8.2% 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.
