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Real Estate Prices & Overview

Panorama City median real estate price is $750,289, which is more expensive than 44.2% of the neighborhoods in California and 84.8% of the neighborhoods in the U.S.

The average rental price in Panorama City is currently $3,385, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 60.5% of the neighborhoods in California.

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

Panorama City real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two 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 Panorama City neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

Real estate vacancies in Panorama City are 4.6%, which is lower than one will find in 69.5% of American neighborhoods. Demand for real estate in Panorama City 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

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 Panorama City neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

Most neighborhoods have a mixture of ages of homes in them, from new to old, but this neighborhood stands out due to its concentration of residential real estate built in one time frame: from 1940 through 1969, generally considered older, well-established homes. This was a busy time in America for home construction. After the end of World War II, as GIs came home, bought newly built homes on the edges of cities with the help of the GI Bill, and began their families. This housing era generally coincides with the 'Baby Boom' generation (1945 - 1964), and many baby boomers grew up in homes built in this era. But what is so interesting about the Panorama City neighborhood, is that an incredible 82.1% of the homes here were built in this era. So when you walk its streets or drive through, this neighborhood has a look and feel that harkens to that era in American life, a very important slice of Americana.

Car Ownership

American households most often have a car, and regularly they have two or three. But households in the Panorama City neighborhood buck this trend. Residents of this neighborhood must really love automobiles. NeighborhoodScout's Analysis reveals that 40.4% of the households here have four, five, or more cars. That is more cars per household than in 98.3% of the neighborhoods in the nation.

Diversity

Did you know that the Panorama City neighborhood has more Armenian and Mexican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.6% of this neighborhood's residents have Armenian ancestry and 56.2% have Mexican ancestry.

Panorama City is also pretty special linguistically. Significantly, 7.6% of its residents five years old and above primarily speak Tagalog, which is the first language of the Philippine region, at home. While this may seem like a small percentage, it is higher than 99.1% 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 Panorama City neighborhood has a greater percentage of residents born in another country (47.5%) than are found in 97.0% 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 Panorama City neighborhood in Los Angeles are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 66.9% of the neighborhoods in America. In addition, 2.9% 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 71.7% of America'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 Panorama City neighborhood, 30.2% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 25.5% of the residents employed. Other residents here are employed in executive, management, and professional occupations (24.0%), and 20.3% in clerical, assistant, and tech support 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 Panorama City neighborhood is Spanish, spoken by 64.5% of households. Other important languages spoken here include English and Tagalog (the first language of the Philippine region).

Ethnicity / Ancestry

Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.

In the Panorama City neighborhood in Los Angeles, CA, residents most commonly identify their ethnicity or ancestry as Mexican (56.2%). There are also a number of people of Asian ancestry (15.7%), and residents who report Armenian roots (4.6%), and some of the residents are also of German ancestry (2.1%), along with some South American ancestry residents (1.8%), among others. In addition, 47.5% 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 Panorama City neighborhood spend between 30 and 45 minutes commuting one-way to work (36.3% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (76.3%) 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 (6.4%) . 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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