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Real Estate Prices & Overview

Pico Union Northeast median real estate price is $1,246,454, which is more expensive than 75.5% of the neighborhoods in California and 94.8% of the neighborhoods in the U.S.

The average rental price in Pico Union Northeast is currently $1,778, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 91.6% of California neighborhoods.

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

Pico Union Northeast 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 single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Pico Union Northeast 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 6.7% in Pico Union Northeast. NeighborhoodScout analysis shows that this rate is lower than 55.4% of the neighborhoods in the nation, approximately near the middle range for vacancies.

Notable & Unique Neighborhood Characteristics

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.

Modes of Transportation

Our research revealed that more commuters here take the bus to work (24.1% ride the bus) than 99.2% 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

The Pico Union Northeast neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 39,506 persons per square mile in the neighborhood, it is more packed with people than 97.9% of the nation's neighborhoods. 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 Northeast neighborhood is one of the most walkable neighborhoods in America.

In addition, the Pico Union Northeast 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 84.9% 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, 86.8% of the real estate in the Pico Union Northeast neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.

Also of note, 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 57.4% of the residential real estate in the Pico Union Northeast neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 95.8% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.

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 Northeast neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 97.0% of all American neighborhoods.

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. What is interesting to note, is that the Pico Union Northeast neighborhood has a greater percentage of residents born in another country (51.2%) than are found in 97.9% of all U.S. neighborhoods.

Diversity

Did you know that the Pico Union Northeast neighborhood has more Armenian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 0.6% of this neighborhood's residents have Armenian ancestry.

Pico Union Northeast is also pretty special linguistically. Significantly, 81.5% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 98.8% 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 Northeast 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 81.8% of U.S. neighborhoods. With 25.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 76.1% 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 Northeast neighborhood, 41.3% 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 40.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (9.8%), and 8.1% in executive, management, and professional occupations.

Languages

The most common language spoken in the Pico Union Northeast neighborhood is Spanish, spoken by 81.5% of households. Some people also speak English (14.5%).

Ethnicity / Ancestry

Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.

In the Pico Union Northeast neighborhood in Los Angeles, CA, residents most commonly identify their ethnicity or ancestry as Mexican (47.2%). There are also a number of people of Spanish ancestry (2.7%), and residents who report Asian roots (2.1%), and some of the residents are also of Puerto Rican ancestry (1.3%). In addition, 51.2% 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 Pico Union Northeast neighborhood spend between 30 and 45 minutes commuting one-way to work (37.9% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (55.4%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (24.1%) and 7.5% 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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