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Real Estate Prices & Overview

Koreatown Southwest median real estate price is $1,356,922, which is more expensive than 78.0% of the neighborhoods in California and 94.9% of the neighborhoods in the U.S.

The average rental price in Koreatown Southwest is currently $2,463, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 73.1% of California neighborhoods.

Koreatown Southwest is a densely urban neighborhood (based on population density) located in Los Angeles, California.

Koreatown Southwest 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 small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Koreatown Southwest neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

Real estate vacancies in Koreatown Southwest are 5.6%, which is lower than one will find in 62.3% of American neighborhoods. Demand for real estate in Koreatown Southwest is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

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.

Real Estate

The Koreatown Southwest 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 94.3% 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.

In addition, renter-occupied real estate is dominant in the Koreatown Southwest neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 94.2%, which is higher than 97.9% 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.

Furthermore, the real estate in the Koreatown Southwest neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 87.7% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 97.8% of American neighborhoods.

Also of note, the Koreatown Southwest neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 36,891 persons per square mile in the neighborhood, it is more packed with people than 97.7% 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 Koreatown Southwest neighborhood is one of the most walkable neighborhoods in America.

Modes of Transportation

Our research revealed that more commuters here take the bus to work (14.7% ride the bus) than 97.2% 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.

People

One of the really interesting characteristics about the Koreatown Southwest neighborhood is that, according to NeighborhoodScout's exclusive research, it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you'll notice that the excitement here fluctuates with the college seasons. Despite the excitement however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 5.0% of college-friendly places to live in the state of California.

Diversity

Did you know that the Koreatown Southwest neighborhood has more Asian and Iranian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 48.4% of this neighborhood's residents have Asian ancestry and 1.7% have Iranian ancestry.

Koreatown Southwest is also pretty special linguistically. Significantly, 30.7% of its residents five years old and above primarily speak Korean at home. While this may seem like a small percentage, it is higher than 100.0% of the neighborhoods in America.

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 Koreatown Southwest neighborhood has a greater percentage of residents born in another country (56.4%) than are found in 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 Koreatown Southwest 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 85.2% of U.S. neighborhoods. With 25.2% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 75.9% 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 Koreatown Southwest neighborhood, 42.8% 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 30.0% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (15.8%), and 11.4% in manufacturing and laborer occupations.

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 Koreatown Southwest neighborhood is Spanish, spoken by 32.8% of households. Other important languages spoken here include Korean, English and Chinese.

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Koreatown Southwest neighborhood in Los Angeles, CA, residents most commonly identify their ethnicity or ancestry as Asian (48.4%). There are also a number of people of Mexican ancestry (19.9%), and residents who report English roots (2.3%), and some of the residents are also of Irania ancestry (1.7%), along with some Irish ancestry residents (1.6%), among others. In addition, 56.4% of the residents of this neighborhood were born in another country.

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 Koreatown Southwest neighborhood spend between 30 and 45 minutes commuting one-way to work (35.3% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (70.8%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (14.7%) . 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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Crime includes:
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Schools include:
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