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Real Estate Prices & Overview

Pico Union Northeast median real estate price is $1,182,081, which is more expensive than 77.2% of the neighborhoods in California and 95.1% of the neighborhoods in the U.S.

The average rental price in Pico Union Northeast is currently $1,748, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 92.0% 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

More people ride the bus in this neighborhood each day to get to work than 99.2% of U.S. neighborhoods.

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, renter-occupied real estate is dominant in the Pico Union Northeast neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 86.8%, which is higher than 95.9% 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.

Also of note, do you watch 'This Old House' on Public Television? Do you love the idea of fixing up a Colonial or Victorian era home, complete with the charm of yesteryear? Do you like to stroll or drive streets lined with gracious older residences? If you found yourself nodding yes to any of these questions, you are going to be interested in this unique neighborhood. The Pico Union Northeast neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 57.4% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 95.8% of the neighborhoods in the United States.

Occupations

There are more people living in the Pico Union Northeast neighborhood employed as sales and service workers (59.1%) 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.

Migration / Stability

The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. 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.

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 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 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 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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