S Olive St / W 6th St median real estate price is $1,061,750, which is more expensive than 64.4% of the neighborhoods in California and 91.0% of the neighborhoods in the U.S.
The average rental price in S Olive St / W 6th St is currently $4,338, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 83.0% of the neighborhoods in California.
S Olive St / W 6th St is a densely urban neighborhood (based on population density) located in Los Angeles, California.
S Olive St / W 6th St 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 S Olive St / W 6th St neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.
S Olive St / W 6th St has a 13.0% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 72.8% 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.
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.
People
In a nation where 1 out of every 4 children lives in poverty, the S Olive St / W 6th St neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.
In addition, one of the most interesting things about the S Olive St / W 6th St neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 64.6% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 99.4% of the neighborhoods in America.
Real Estate
The S Olive St / W 6th St 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 99.9% 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.
In addition, one of the really unique and interesting things about the look and setting of the S Olive St / W 6th St neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 95.1% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 99.0% of all neighborhoods in America.
Furthermore, if you like crowded places, then you will probably enjoy the the S Olive St / W 6th St neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 96.9% of neighborhoods in the U.S., with 30,124 people per square mile living here. 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 S Olive St / W 6th St neighborhood is among the top 5% of American neighborhoods in terms of walkability.
Also of note, 87.9% of the real estate in the S Olive St / W 6th St neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
Modes of Transportation
More people in S Olive St / W 6th St choose to walk to work each day (20.2%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.
Occupations
The S Olive St / W 6th St neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 95.9% of the neighborhoods in America. In fact, 70.8% 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.
Diversity
Did you know that the S Olive St / W 6th St neighborhood has more Asian and Iranian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 42.0% of this neighborhood's residents have Asian ancestry and 1.5% have Iranian ancestry.
S Olive St / W 6th St is also pretty special linguistically. Significantly, 21.7% of its residents five years old and above primarily speak Korean at home. While this may seem like a small percentage, it is higher than 99.9% 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. In the S Olive St / W 6th St neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 97.2% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas. What is also interesting to note, is that the S Olive St / W 6th St neighborhood has a greater percentage of residents born in another country (42.3%) than are found in 95.0% of all U.S. neighborhoods.
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 S Olive St / W 6th St 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 65.1% of the neighborhoods in America. In addition, 0.0% 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 100.0% of America'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 S Olive St / W 6th St neighborhood, 70.8% 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 clerical, assistant, and tech support occupations (11.0%).
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 S Olive St / W 6th St neighborhood is English, spoken by 41.4% of households. Other important languages spoken here include Korean, Spanish, Chinese and Langs. of India.
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 S Olive St / W 6th St neighborhood in Los Angeles, CA, residents most commonly identify their ethnicity or ancestry as Asian (42.0%). There are also a number of people of Mexican ancestry (6.4%), and residents who report South American roots (6.4%), and some of the residents are also of Puerto Rican ancestry (6.2%), along with some German ancestry residents (4.4%), among others. In addition, 42.3% of the residents of this neighborhood were born in another country.
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 S Olive St / W 6th St neighborhood spend under 15 minutes commuting one-way to work (35.9% of working residents), one of the shortest commutes across America.
Here most residents (39.2%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (20.2%) and 6.9% of residents also carpool with coworkers, friends, or neighbors for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
