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Real Estate Prices & Overview

Lake Balboa South median real estate price is $1,318,354, which is more expensive than 82.4% of the neighborhoods in California and 96.4% of the neighborhoods in the U.S.

The average rental price in Lake Balboa South is currently $4,433, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 84.6% of the neighborhoods in California.

Lake Balboa South is a remote neighborhood (based on population density) located in Los Angeles, California.

Lake Balboa South real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and mobile homes. Most of the residential real estate is owner occupied. Many of the residences in the Lake Balboa South neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

In Lake Balboa South, 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 Lake Balboa South is very tight compared to the demand for property here.

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.

Real Estate

This neighborhood has the distinction of having one of the lowest real estate vacancy rates of any neighborhood in America. With just 0.0% of the real estate vacant, this indicates an exceptionally strong demand for real estate in the Lake Balboa South neighborhood, and/or an issue with creating enough supply for the demand. This could have the effect of increasing real estate prices, increasing supply to meet demand, or both.

In addition, the real estate in this neighborhood consists of more mobile homes than 97.0% of all neighborhoods in America, with 36.7% of the occupied housing here being classified as mobile homes. So if you are looking for a mobile home, or you like the look and feel of mobile home parks, this neighborhood might have the setting you desire.

People

In a nation where 1 out of every 4 children lives in poverty, the Lake Balboa South neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

In addition, if you're planning where to retire, the Lake Balboa South neighborhood in Los Angeles is a great option to consider. According to NeighborhoodScout's exclusive retirement dream area analysis, it's peaceful and quiet, has above average safety ratings compared to other neighborhoods in CA, offers a wide range of housing options, and has already attracted an enviable mix of college educated seniors. This neighborhood ranks as better for retirement living than 86.8% of the neighborhoods in California. If you are considering retiring to California, this is a good neighborhood to look at.

Modes of Transportation

While most Americans do drive to work alone each day, the Lake Balboa South neighborhood stands out by having 95.5% of commuters doing so, which is a higher proportion of people driving alone to work than NeighborhoodScout found in 99.6% of all American neighborhoods.

Occupations

There are more people living in the Lake Balboa South neighborhood employed as sales and service workers (53.0%) than almost any neighborhood in the country. From fast-food service workers to major sales accounts, sales and service workers make up the largest proportion of our national employment picture. But despite that size and importance nationally, this neighborhood still stands out as unique due to the dominance of people living here who work in such occupations.

Diversity

Did you know that the Lake Balboa South neighborhood has more Romanian and Iranian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 10.9% of this neighborhood's residents have Romanian ancestry and 5.0% have Iranian ancestry.

Lake Balboa South is also pretty special linguistically. Significantly, 3.0% 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 99.5% 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 Lake Balboa South 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 100.0% of U.S. neighborhoods. 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.

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 Lake Balboa South neighborhood, 47.0% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 42.4% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (10.6%).

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 Lake Balboa South neighborhood is English, spoken by 76.5% of households. Other important languages spoken here include Tagalog (the first language of the Philippine region), Spanish and Persian.

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 Lake Balboa South neighborhood in Los Angeles, CA, residents most commonly identify their ethnicity or ancestry as Asian (19.0%). There are also a number of people of Romanian ancestry (10.9%), and residents who report English roots (10.2%), and some of the residents are also of German ancestry (8.8%), along with some Irish ancestry residents (8.8%), among others. In addition, 19.7% 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 Lake Balboa South neighborhood spend between 15 and 30 minutes commuting one-way to work (58.7% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (95.5%) 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.


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