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Real Estate Prices & Overview

Echo Park Southeast median real estate price is $1,028,156, which is more expensive than 62.8% of the neighborhoods in California and 91.2% of the neighborhoods in the U.S.

The average rental price in Echo Park Southeast is currently $3,599, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 62.9% of the neighborhoods in California.

Echo Park Southeast is a densely urban neighborhood (based on population density) located in Los Angeles, California.

Echo Park Southeast 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 Echo Park Southeast 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 Echo Park Southeast are 4.5%, which is lower than one will find in 69.7% of American neighborhoods. Demand for real estate in Echo Park Southeast 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 Echo Park Southeast neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

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 Echo Park Southeast neighborhood is one of the most walkable neighborhoods in America.

In addition, renter-occupied real estate is dominant in the Echo Park Southeast neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 84.5%, which is higher than 95.2% 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.

Diversity

Did you know that the Echo Park Southeast neighborhood has more Hungarian and Armenian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.3% of this neighborhood's residents have Hungarian ancestry and 0.7% have Armenian ancestry.

Echo Park Southeast is also pretty special linguistically. Significantly, 1.7% of its residents five years old and above primarily speak Native American languages at home. While this may seem like a small percentage, it is higher than 98.8% of the neighborhoods in America.

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 Echo Park Southeast 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 72.0% of the neighborhoods in America. With 48.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 93.3% 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 Echo Park Southeast neighborhood, 45.8% 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 22.0% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (17.5%), and 14.7% in manufacturing and laborer 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 Echo Park Southeast neighborhood is Spanish, spoken by 49.8% of households. Other important languages spoken here include English and Chinese.

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 Echo Park Southeast neighborhood in Los Angeles, CA, residents most commonly identify their ethnicity or ancestry as Mexican (26.7%). There are also a number of people of German ancestry (11.7%), and residents who report English roots (9.6%), and some of the residents are also of Asian ancestry (7.9%), along with some Irish ancestry residents (4.0%), among others. In addition, 38.1% 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 Echo Park Southeast neighborhood spend between 15 and 30 minutes commuting one-way to work (55.6% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (61.9%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (7.9%) and 5.8% 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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