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Real Estate Prices & Overview

Hyde Park median real estate price is $1,025,656, which is more expensive than 67.7% of the neighborhoods in California and 92.7% of the neighborhoods in the U.S.

The average rental price in Hyde Park is currently $1,730, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 92.3% of California neighborhoods.

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

Hyde Park 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 Hyde Park neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

Hyde Park has a 9.8% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 60.8% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are 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 Los Angeles, the Hyde Park neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

96.8% of the real estate in the Hyde Park neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.

In addition, the Hyde Park 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 89.5% 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, if you like crowded places, then you will probably enjoy the the Hyde Park neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 96.0% of neighborhoods in the U.S., with 24,697 people per square mile living here.

Modes of Transportation

More people ride the bus in this neighborhood each day to get to work than 97.9% of U.S. neighborhoods.

Length of Commute

Whether walking, biking, riding, or driving, the length of one's commute is an important factor for one's quality of life. The Hyde Park neighborhood stands out for its commute length, according to NeighborhoodScout's analysis. Long commutes can be brutal. They take time, money, and energy, leaving less of you for yourself and your family. The residents of the Hyde Park neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 11.1% of commuters here travel more than one hour just one-way to work. That is more than two hours per day. This percentage with two-hour + round-trip commutes is higher than NeighborhoodScout found in 96.5% of all neighborhoods in America.

People

NeighborhoodScout's analysis shows that the Hyde Park neighborhood has a greater concentration of residents currently enrolled in college than 95.5% of the neighborhoods in the U.S. With 11.4% of the population here attending college, this is very much a college-focused neighborhood.

Diversity

Did you know that the Hyde Park neighborhood has more Sub-Saharan African and African ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 17.1% of this neighborhood's residents have Sub-Saharan African ancestry and 6.5% have African ancestry.

Hyde Park is also pretty special linguistically. Significantly, 0.8% of its residents five years old and above primarily speak Native American languages at home. While this may seem like a small percentage, it is higher than 96.9% of the neighborhoods in America.

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 Hyde Park 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 84.2% of U.S. neighborhoods. With 43.7% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 91.2% 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 Hyde Park neighborhood, 41.5% 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 26.1% of the residents employed. Other residents here are employed in executive, management, and professional occupations (17.1%), and 15.4% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Hyde Park neighborhood is English, spoken by 52.5% of households. Some people also speak Spanish (33.3%).

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 Hyde Park neighborhood in Los Angeles, CA, residents most commonly identify their ethnicity or ancestry as Mexican (19.5%). There are also a number of people of Sub-Saharan African ancestry (17.1%), and residents who report African roots (6.5%), and some of the residents are also of Asian ancestry (2.5%). In addition, 27.8% 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 Hyde Park neighborhood spend between 15 and 30 minutes commuting one-way to work (34.9% of working residents), which is shorter than the time spent commuting to work for most Americans. However, there is also a significant group of residents (11.1%) who commute over an hour in each direction.

Here most residents (73.5%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (16.9%) . 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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