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Real Estate Prices & Overview

Sherman Oaks Northwest median real estate price is $1,213,321, which is more expensive than 77.8% of the neighborhoods in California and 95.2% of the neighborhoods in the U.S.

The average rental price in Sherman Oaks Northwest is currently $3,229, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 44.8% of California neighborhoods.

Sherman Oaks Northwest is a densely urban neighborhood (based on population density) located in Los Angeles, California.

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

Real estate vacancies in Sherman Oaks Northwest are 4.5%, which is lower than one will find in 69.8% of American neighborhoods. Demand for real estate in Sherman Oaks Northwest 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 Sherman Oaks Northwest neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Modes of Transportation

In the Sherman Oaks Northwest neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 29.2% 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 96.4% 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.

Diversity

Did you know that the Sherman Oaks Northwest neighborhood has more Iranian and Danish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 18.7% of this neighborhood's residents have Iranian ancestry and 2.1% have Danish ancestry.

Sherman Oaks Northwest is also pretty special linguistically. Significantly, 7.3% 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 99.9% 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 Sherman Oaks Northwest 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 73.3% of the neighborhoods in America. In addition, 3.2% 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 70.8% 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 Sherman Oaks Northwest neighborhood, 58.8% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 20.9% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (18.5%).

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 Sherman Oaks Northwest neighborhood is English, spoken by 60.4% of households. Other important languages spoken here include Spanish, Persian and Russian.

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 Sherman Oaks Northwest neighborhood in Los Angeles, CA, residents most commonly identify their ethnicity or ancestry as Mexican (23.0%). There are also a number of people of Irania ancestry (18.7%), and residents who report Italian roots (10.5%), and some of the residents are also of German ancestry (7.2%), along with some Sub-Saharan African ancestry residents (6.1%), among others. In addition, 21.1% 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 Sherman Oaks Northwest neighborhood spend between 15 and 30 minutes commuting one-way to work (32.4% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (64.7%) drive alone in a private automobile to get to work. 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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