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Real Estate Prices & Overview

Silver Lake South median real estate price is $1,361,009, which is more expensive than 83.6% of the neighborhoods in California and 96.6% of the neighborhoods in the U.S.

The average rental price in Silver Lake South is currently $2,727, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 63.9% of California neighborhoods.

Silver Lake South is a densely urban neighborhood (based on population density) located in Los Angeles, California.

Silver Lake South real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings and apartment complexes/high-rise apartments. Most of the residential real estate is renter occupied. Many of the residences in the Silver Lake South neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1940 and 1969.

Home and apartment vacancy rates are 7.4% in Silver Lake South. NeighborhoodScout analysis shows that this rate is lower than 51.5% of the neighborhoods in the nation, approximately near the middle range for vacancies.

Notable & Unique Neighborhood Characteristics

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.

Real Estate

Even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. What many people don't realize is that most of America's premier vacation locations are also very walkable. The Silver Lake South neighborhood is among the top 5% of American neighborhoods in terms of walkability.

In addition, corner bodegas, stores on the first floor and apartments above, former grand Victorian residences converted into apartments, three-deckers built shoulder-to-shoulder, duplexes. Such building types define the real estate of neighborhoods dominated by small 2, 3, and 4 unit apartment buildings. Many are in older core neighborhoods of Eastern and Midwestern cities, or historic town centers in their hinterlands. If you wax romantic about the look and feel of such neighborhoods, with fresh pizza, falafel and an independent florist at the corner, then you might find the Silver Lake South neighborhood worth a close look. This neighborhood is an absolutely outstanding example of the dominance of small 2, 3, and 4 unit apartment buildings compared to neighborhoods across the nation, as they make up a substantial portion of this neighborhood's real estate stock. In fact, no less than 36.6% of the real estate here is made up of such dwellings, which is higher than 96.4% of all U.S. neighborhoods.

Furthermore, renter-occupied real estate is dominant in the Silver Lake South neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 83.9%, which is higher than 95.0% 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.

Also of note, do you watch 'This Old House' on Public Television? Do you love the idea of fixing up a Colonial or Victorian era home, complete with the charm of yesteryear? Do you like to stroll or drive streets lined with gracious older residences? If you found yourself nodding yes to any of these questions, you are going to be interested in this unique neighborhood. The Silver Lake South neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 61.5% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 96.9% of the neighborhoods in the United States.

Diversity

Significantly, 5.2% 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 98.1% of the neighborhoods in America.

Migration / Stability

Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Silver Lake South neighborhood. What is interesting to note, is that the Silver Lake South neighborhood has a greater percentage of residents born in another country (42.7%) than are found in 95.2% 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 Silver Lake South neighborhood in Los Angeles are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 42.8% of the neighborhoods in America. In addition, 5.9% 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 61.8% 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 Silver Lake South neighborhood, 57.8% 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 17.1% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (13.8%), and 11.3% 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 Silver Lake South neighborhood is Spanish, spoken by 45.8% 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 Silver Lake South neighborhood in Los Angeles, CA, residents most commonly identify their ethnicity or ancestry as Mexican (26.5%). There are also a number of people of Asian ancestry (13.1%), and residents who report English roots (5.7%), and some of the residents are also of Irish ancestry (4.4%), along with some French ancestry residents (3.9%), among others. In addition, 42.7% 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 Silver Lake South neighborhood spend between 15 and 30 minutes commuting one-way to work (39.9% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (66.6%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (7.5%) . 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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