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Real Estate Prices & Overview

Golden Rectangle / Southeast Carmel median real estate price is $3,024,929, which is more expensive than 94.5% of the neighborhoods in California and 98.9% of the neighborhoods in the U.S.

The average rental price in Golden Rectangle / Southeast Carmel is currently $4,486, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 82.9% of the neighborhoods in California.

Golden Rectangle / Southeast Carmel is a suburban neighborhood (based on population density) located in Carmel-by-the-Sea, California. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).

Golden Rectangle / Southeast Carmel real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two 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 Golden Rectangle / Southeast Carmel 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.

Vacant apartments or homes are a major fact of life in Golden Rectangle / Southeast Carmel. The current real estate vacancy rate here is 54.5%. This is higher than the rate of vacancies in 99.1% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (46.6%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.

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 Carmel-by-the-Sea, the Golden Rectangle / Southeast Carmel neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

Golden Rectangle / Southeast Carmel 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, Golden Rectangle / Southeast Carmel 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, despite all of the residential real estate here in the Golden Rectangle / Southeast Carmel neighborhood, NeighborhoodScout has discovered that much of it is vacant. In resort or second-home vacation areas, this naturally occurs because homes and apartments are seasonally occupied, and empty for a portion of the year. In non-vacation or resort areas, however, this can be an indicator of property abandonment or a weak real estate market. The vacancy rate here is 54.5%, which is higher than 99.1% of all U.S. neighborhoods.

People

In a nation where 1 out of every 4 children lives in poverty, the Golden Rectangle / Southeast Carmel neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

In addition, if you are planning to retire in California, this neighborhood should be on your must-see list. For many reasons, Golden Rectangle / Southeast Carmel may be considered a retiree's dream neighborhood. According to NeighborhoodScout's exclusive analysis and metrics, it's peaceful and quiet, has above average safety from crime compared to other neighborhoods in California, while also offering a diverse range of housing options. This, along with the vibrant mix of very educated seniors and other age groups who choose to live here, makes the neighborhood more retiree-friendly than 99.3% of neighborhoods in CA. If a California retirement is in your future, this neighborhood should be one of the places you visit. In addition to being an excellent choice for active retirees, this neighborhood is also a very good choice for urban sophisticates and highly educated executives.

Modes of Transportation

Our research shows that more people carpool to work here in the Golden Rectangle / Southeast Carmel (56.5%) than in 100.0% of the neighborhoods in America.

Length of Commute

Regardless of the means by which residents commute, this neighborhood has a length of commute that is notable. Residents of the Golden Rectangle / Southeast Carmel neighborhood have the pleasure of having one of the shortest commutes to work of any neighborhood in America. 83.1% of the residents have a commute time from home to work (one way) of less than fifteen minutes. This is a higher proportion of residents enjoying a short trip to work than NeighborhoodScout found in 99.7% of U.S. neighborhoods. Less time commuting means more time for other things in life.

Diversity

Did you know that the Golden Rectangle / Southeast Carmel neighborhood has more Scottish and Norwegian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 7.2% of this neighborhood's residents have Scottish ancestry and 8.3% have Norwegian ancestry.

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 Golden Rectangle / Southeast Carmel neighborhood in Carmel-by-the-Sea 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 89.3% 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.

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 Golden Rectangle / Southeast Carmel neighborhood, 66.5% 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 29.0% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (2.9%).

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 Golden Rectangle / Southeast Carmel neighborhood is English, spoken by 84.1% of households. Other important languages spoken here include Spanish and Polish.

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 Golden Rectangle / Southeast Carmel neighborhood in Carmel-by-the-Sea, CA, residents most commonly identify their ethnicity or ancestry as English (22.1%). There are also a number of people of Irish ancestry (21.4%), and residents who report German roots (20.4%), and some of the residents are also of Norwegian ancestry (8.3%), along with some Scottish ancestry residents (7.2%), among others.

Getting to Work

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 Golden Rectangle / Southeast Carmel neighborhood spend under 15 minutes commuting one-way to work (83.1% of working residents), one of the shortest commutes across America.

Here most residents (56.5%) carpool with coworkers, friends, or neighbors to get to work. In addition, quite a number also drive alone in a private automobile to get to work (29.9%) and 6.9% of residents also hop out the door and walk to work for their daily commute. Despite relying on the automobile to get to work, residents of this neighborhood share the ride more than most neighborhoods, reducing traffic, pollution, and saving money.

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