Corona Del Mar median real estate price is $4,422,261, which is more expensive than 98.8% of the neighborhoods in California and 99.8% of the neighborhoods in the U.S.
The average rental price in Corona Del Mar is currently $5,616, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 96.2% of the neighborhoods in California.
Corona Del Mar is an urban neighborhood (based on population density) located in Newport Beach, California. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).
Corona Del Mar real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and small apartment buildings. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Corona Del Mar neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
Vacant apartments or homes are a major fact of life in Corona Del Mar. The current real estate vacancy rate here is 31.8%. This is higher than the rate of vacancies in 95.8% 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.
Corona Del Mar is a neighborhood that is on the ocean, a bay, or inlet. Many times, such places have amenities that bring locals and visitors to the waterfront for recreational activities or to check out the scenery. In some densely populated areas that are less financially well-off, the neighborhood waterfront can be relatively industrial and less open to recreation. In addition to being coastal, Corona Del Mar is a very nautical neighborhood, meaning that it is somewhat historic, walkable, densely populated and on the water. This gives the neighborhood a very nautical feel, with some seaside and shipping feel, which some may really enjoy the sights and sounds of.
In addition, vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 31.8% of the residential real estate vacant, the Corona Del Mar neighborhood claims the distinction of having a higher vacancy rate than 95.8% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.
Wealth makes most things in life easier, and a few things harder. If you are wealthy and enjoy keeping up with the Jones', this neighborhood will interest you. In fact, according to NeighborhoodScout's research, the Corona Del Mar neighborhood is wealthier than 98.4% of the neighborhoods in the United States. Residents here are truly in a unique situation even when compared to other Americans, based on the sheer amount of wealth concentrated here. Even in times of economic downturn, residents of this neighborhood, as a group, suffered less and recovered more quickly. This is indeed a stand-out characteristic of this neighborhood. As one would expect in a considerably wealthy neighborhood such as this, Corona Del Mar also has one of the lowest ratings of child poverty in the nation.
In addition, do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. NeighborhoodScout's research revealed that a full 76.0% of the adults living in the Corona Del Mar neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 96.3% of U.S. neighborhoods. In this way, this neighborhood truly stands out.
Also, if you're a regular supporter of the arts and enjoy outings to the theatre, weekend boutique-ing, or even a finely aged wine with dinner, than you're in good company with the people of the Corona Del Mar neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 95.2% of neighborhoods across the country. The people here truly stand out as a class among their own. They are an exclusive community characterized by refined tastes, cultural inclinations, and the means to live well. Urban sophisticates live a big city lifestyle, whether or not they live in or near a big city. They are educated executives or managers by week, and serial patrons of the arts by weekend. If this lifestyle pertains to you, than you'll certainly feel right at home in the Corona Del Mar neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for highly educated executives.
Did you know that the Corona Del Mar neighborhood has more Russian and Scottish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 12.6% of this neighborhood's residents have Russian ancestry and 8.9% have Scottish ancestry.
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 Corona Del Mar neighborhood. In the Corona Del Mar neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 99.1% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
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 Corona Del Mar neighborhood in Newport Beach are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 98.4% 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 Corona Del Mar neighborhood, 67.8% 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 22.8% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (5.7%), and 3.7% in manufacturing and laborer occupations.
The most common language spoken in the Corona Del Mar neighborhood is English, spoken by 79.9% of households. Some people also speak Spanish (8.6%).
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 Corona Del Mar neighborhood in Newport Beach, CA, residents most commonly identify their ethnicity or ancestry as English (13.3%). There are also a number of people of Russian ancestry (12.6%), and residents who report Mexican roots (12.3%), and some of the residents are also of German ancestry (10.9%), along with some Irish ancestry residents (9.3%), among others. In addition, 11.5% 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 Corona Del Mar neighborhood spend under 15 minutes commuting one-way to work (42.1% of working residents), one of the shortest commutes across America.
Here most residents (74.5%) 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.