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Real Estate Prices & Overview

Pico Union Southeast median real estate price is $1,121,080, which is more expensive than 73.8% of the neighborhoods in California and 94.2% of the neighborhoods in the U.S.

The average rental price in Pico Union Southeast is currently $1,995, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 86.8% of California neighborhoods.

Pico Union Southeast is a densely urban neighborhood (based on population density) located in Los Angeles, California.

Pico Union Southeast 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 small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Pico Union Southeast 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 1970 and 1999.

Home and apartment vacancy rates are 8.6% in Pico Union Southeast. NeighborhoodScout analysis shows that this rate is lower than 44.7% of the neighborhoods in the nation, approximately near the middle range for vacancies.

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

Modes of Transportation

Our research revealed that more commuters here take the bus to work (24.8% ride the bus) than 99.3% of all American neighborhoods. If you like the idea of leaving your car and home and hopping the bus to work, this might be a good neighborhood for you to consider.

Real Estate

92.0% of the real estate in the Pico Union Southeast neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.

In addition, 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 Pico Union Southeast neighborhood is among the top 5% of American neighborhoods in terms of walkability.

Furthermore, if you find historic homes and neighborhoods attractive, you love the details, the history, and the charm, then you are sure to be interested in this neighborhood. With 60.4% of the residential real estate in the Pico Union Southeast neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 96.6% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.

Occupations

NeighborhoodScout's exclusive research identifies the Pico Union Southeast neighborhood as having one of the highest concentrations of people employed in manufacturing or as laborers of any neighborhood in America. In fact, despite the loss of manufacturing jobs nationally, this neighborhood has 43.0% of its working residents employed in such fields, which is a higher proportion than 96.0% of American neighborhoods.

Diversity

Did you know that the Pico Union Southeast neighborhood has more Mexican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 66.5% of this neighborhood's residents have Mexican ancestry.

Pico Union Southeast is also pretty special linguistically. Significantly, 81.8% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 98.8% of all U.S. neighborhoods.

Migration / Stability

Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. More residents of the Pico Union Southeast neighborhood live here today that also were living in this same neighborhood five years ago than is found in 96.2% of U.S. neighborhoods. This neighborhood is really made up of people who know each other, don't move often, and have lived here in this very neighborhood for quite a while. What is interesting to note, is that the Pico Union Southeast neighborhood has a greater percentage of residents born in another country (43.3%) than are found in 95.5% of all U.S. neighborhoods.

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 Pico Union Southeast neighborhood in Los Angeles are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 78.3% of U.S. neighborhoods. With 33.2% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 84.1% of U.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 Pico Union Southeast neighborhood, 43.0% of the working population is employed in manufacturing and laborer 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 30.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (14.3%), and 11.9% in executive, management, and professional occupations.

Languages

The most common language spoken in the Pico Union Southeast neighborhood is Spanish, spoken by 81.8% of households. Some people also speak English (16.0%).

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 Pico Union Southeast neighborhood in Los Angeles, CA, residents most commonly identify their ethnicity or ancestry as Mexican (66.5%). There are also a number of people of Asian ancestry (2.1%), and residents who report Puerto Rican roots (1.1%). In addition, 43.3% 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 Pico Union Southeast neighborhood spend between 30 and 45 minutes commuting one-way to work (47.3% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (45.6%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (24.8%) and 14.8% 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.


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