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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

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

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. Even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. What many people don't realize is that most of America's premier vacation locations are also very walkable. The Pico Union Northeast neighborhood is among the top 5% of American neighborhoods in terms of walkability.

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, 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

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 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.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

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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