Miracle Mile median real estate price is $1,797,666, which is more expensive than 89.2% of the neighborhoods in California and 97.9% of the neighborhoods in the U.S.
The average rental price in Miracle Mile is currently $3,561, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 61.8% of the neighborhoods in California.
Miracle Mile is a densely urban neighborhood (based on population density) located in Los Angeles, California.
Miracle Mile 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 Miracle Mile 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.
Miracle Mile has a 12.4% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 70.6% 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.
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 Miracle Mile neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
In a nation where 1 out of every 4 children lives in poverty, the Miracle Mile neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.
In addition, miracle Mile has the amazing distinction of housing more same sex couples living together than 97.3% of neighborhoods in the U.S. If you are seeking such a neighborhood, NeighborhoodScout's analysis shows that this is one place that you should consider.
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 Miracle Mile neighborhood is among the top 5% of American neighborhoods in terms of walkability.
Executives, managers and professionals make up 71.0% of the workforce in the Miracle Mile neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 96.0% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
Did you know that the Miracle Mile neighborhood has more Romanian and Greek ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.8% of this neighborhood's residents have Romanian ancestry and 3.1% have Greek ancestry.
Miracle Mile is also pretty special linguistically. Significantly, 2.2% 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 99.2% of the neighborhoods in America.
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 Miracle Mile 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 58.3% 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 Miracle Mile neighborhood, 71.0% 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 19.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (8.0%).
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 Miracle Mile neighborhood is English, spoken by 67.4% of households. Other important languages spoken here include Spanish, French, Korean and Persian.
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 Miracle Mile neighborhood in Los Angeles, CA, residents most commonly identify their ethnicity or ancestry as Asian (13.9%). There are also a number of people of Mexican ancestry (9.4%), and residents who report Italian roots (6.6%), and some of the residents are also of German ancestry (6.4%), along with some French ancestry residents (5.7%), among others. In addition, 20.0% 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 Miracle Mile neighborhood spend between 30 and 45 minutes commuting one-way to work (39.4% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (79.1%) drive alone in a private automobile to get to work. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.