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Real Estate Prices & Overview

Panorama City West median real estate price is $617,402, which is less expensive than 72.3% of California neighborhoods and 24.2% of all U.S. neighborhoods.

The average rental price in Panorama City West is currently $2,546, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 73.1% of California neighborhoods.

Panorama City West is a densely urban neighborhood (based on population density) located in Los Angeles, California.

Panorama City West 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 Panorama City West neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

In Panorama City West, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Panorama City West is very tight compared to the demand for property here.

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 Panorama City West neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

Renter-occupied real estate is dominant in the Panorama City West neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 96.4%, which is higher than 98.3% 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. With a real estate vacancy rate of only 0.0%, the Panorama City West neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.

In addition, the Panorama City West neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 48,104 persons per square mile in the neighborhood, it is more packed with people than 98.4% of the nation's neighborhoods.

Furthermore, one of the really unique and interesting things about the look and setting of the Panorama City West neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 90.8% 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 98.3% of all neighborhoods in America.

Also of note, the Panorama City West 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 89.3% 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.

Occupations

Each year, fewer and fewer Americans make their living as farmers, foresters, or fishers. But the Panorama City West neighborhood truly stands out among U.S. neighborhoods. According to exclusive NeighborhoodScout analysis, this neighborhood has a greater proportion of farmers, foresters, or fishers than 96.0% of all American neighborhoods. This is truly a unique cultural characteristic of this neighborhood.

Diversity

Did you know that the Panorama City West neighborhood has more Armenian and Mexican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.1% of this neighborhood's residents have Armenian ancestry and 61.0% have Mexican ancestry.

Panorama City West is also pretty special linguistically. Significantly, 75.4% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 98.1% of all U.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 Panorama City West neighborhood. What is interesting to note, is that the Panorama City West neighborhood has a greater percentage of residents born in another country (48.8%) than are found in 97.3% of all U.S. neighborhoods.

The Neighbors

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 Panorama City West neighborhood in Los Angeles are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 90.3% of U.S. neighborhoods. With 41.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 89.8% of U.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 Panorama City West neighborhood, 41.1% of the working population is employed in manufacturing and laborer 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 37.4% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (9.7%), and 7.5% 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 Panorama City West neighborhood is Spanish, spoken by 75.4% of households. Other important languages spoken here include English and Tagalog (the first language of the Philippine region).

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 Panorama City West neighborhood in Los Angeles, CA, residents most commonly identify their ethnicity or ancestry as Mexican (61.0%). There are also a number of people of Asian ancestry (7.9%), and residents who report Puerto Rican roots (2.7%), and some of the residents are also of Italian ancestry (1.2%), along with some Armenian ancestry residents (1.1%), among others. In addition, 48.8% of the residents of this neighborhood were born in another country.

Getting to Work

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 Panorama City West neighborhood spend between 15 and 30 minutes commuting one-way to work (32.6% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (63.5%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (19.8%) . 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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