Pacific Palisades median real estate price is $6,341,855, which is more expensive than 99.7% of the neighborhoods in California and 99.9% of the neighborhoods in the U.S.
The average rental price in Pacific Palisades is currently $3,839, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 67.6% of the neighborhoods in California.
Pacific Palisades is a suburban neighborhood (based on population density) located in Los Angeles, California. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).
Pacific Palisades real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Pacific Palisades neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.
Home and apartment vacancy rates are 9.2% in Pacific Palisades. NeighborhoodScout analysis shows that this rate is lower than 40.6% of the neighborhoods in the nation, approximately near the middle range for vacancies.
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.
Do you like a coastal setting? If so, this neighborhood may be to your liking. The Pacific Palisades neighborhood is on the ocean, a bay, or inlet. Often such coastal places have amenities and recreational activities on the waterfront that are attractive to residents and visitors alike. In addition to being coastal, Pacific Palisades 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.
Think about the people you know personally. How many of them would purchase box seats to opening night at the symphony? How many of them regularly attend gallery openings, or are the first to reserve tickets to opening night at the ballet? If they're like most of us, they don't do any of these things. But if you're among an exclusive crowd of wealthy and refined patrons of the arts, then you'll feel right at home in the Pacific Palisades neighborhood: a neighborhood in which more "urban sophisticates" live than 99.4% of neighborhoods across the U.S. Here, your neighbors are defined as having urbane tastes in literature, music, live theatre and the arts. They are wealthy, educated, travel in style, and live a big city lifestyle whether or not they live in or near a big city. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for highly educated executives, active retirees and families with school-aged children.
In addition, if knowledge is power, then imagine the cumulative power of one neighborhood where many of the adults have earned an advanced degree, such as a Masters, law degree, medical degree, or even a Ph.D. This is certainly the case in the Pacific Palisades neighborhood, where 45.6% have earned an advanced degree. Compare that to the average neighborhood in America, where just 13.7% of adults have completed a post-graduate degree, and you can see why this neighborhood is a stand out. In fact, this neighborhood has a higher rate of adults with an advanced degree than 98.4% of the neighborhoods in America.
Also, with more than 1.7% of residents living with a same sex partner, Pacific Palisades is truly a neighborhood that stands out from the rest in this regard. In fact, exclusive analysis by NeighborhoodScout reveals that this neighborhood has a greater concentration of same sex couples than 95.9% of U.S. neighborhoods.
In the Pacific Palisades neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 41.7% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 99.3% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.
The Pacific Palisades neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 96.5% of the neighborhoods in America. In fact, 72.9% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.
Did you know that the Pacific Palisades neighborhood has more Eastern European and Russian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.6% of this neighborhood's residents have Eastern European ancestry and 6.9% have Russian ancestry.
Pacific Palisades is also pretty special linguistically. Significantly, 1.0% of its residents five years old and above primarily speak Persian at home. While this may seem like a small percentage, it is higher than 97.8% of the neighborhoods in America.
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 Pacific Palisades neighborhood in Los Angeles 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 94.3% of the neighborhoods in America. In addition, 6.1% 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 60.5% 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 Pacific Palisades neighborhood, 72.9% 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 15.5% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (6.1%), and 5.5% 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 Pacific Palisades neighborhood is English, spoken by 90.0% of households. Other important languages spoken here include Spanish and Chinese.
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 Pacific Palisades neighborhood in Los Angeles, CA, residents most commonly identify their ethnicity or ancestry as English (12.5%). There are also a number of people of German ancestry (10.9%), and residents who report Irish roots (10.0%), and some of the residents are also of Russian ancestry (6.9%), along with some Asian ancestry residents (6.8%), among others. In addition, 11.0% of the residents of this neighborhood were born in another country.
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 Pacific Palisades neighborhood spend between 15 and 30 minutes commuting one-way to work (43.1% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (43.4%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (8.9%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
