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Real Estate Prices & Overview

W Elmgate St / W Almora St median real estate price is $927,104, which is more expensive than 60.7% of the neighborhoods in California and 90.4% of the neighborhoods in the U.S.

The average rental price in W Elmgate St / W Almora St is currently $2,991, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 53.4% of California neighborhoods.

W Elmgate St / W Almora St is an urban neighborhood (based on population density) located in Monterey Park, California.

W Elmgate St / W Almora St real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the W Elmgate St / W Almora St neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

In W Elmgate St / W Almora St, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in W Elmgate St / W Almora St is very tight compared to the demand for property here.

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

This neighborhood has the distinction of having one of the lowest real estate vacancy rates of any neighborhood in America. With just 0.0% of the real estate vacant, this indicates an exceptionally strong demand for real estate in the W Elmgate St / W Almora St neighborhood, and/or an issue with creating enough supply for the demand. This could have the effect of increasing real estate prices, increasing supply to meet demand, or both.

In addition, 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 W Elmgate St / W Almora St neighborhood, is that an incredible 89.7% 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.

People

Of note is NeighborhoodScout's research finding that the W Elmgate St / W Almora St neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the W Elmgate St / W Almora St community truly stands out from the rest in this regard.

In addition, the W Elmgate St / W Almora St neighborhood stands out within California for its college student friendly environment. NeighborhoodScout's analysis reveals that this neighborhood is home to a number of college students, is relatively walkable, and above average in safety. In combination, this makes it stand out for a good place for college students to consider. Because a number of college students live here, this neighborhood may be close to a college campus and offer certain amenities nearby geared towards the student body. While it's not an environment for everyone, ambitious scholars can enjoy seasonal excitement between semesters and school breaks, and parents can rest easy knowing that the area has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 9.0% of college-friendly places to live in CA.

Occupations

The W Elmgate St / W Almora St neighborhood has a greater proportion of government workers living in it than 96.0% of the neighborhoods in America, according to NeighborhoodScout's exclusive analysis. This is a unique feature of this neighborhood, and one that shapes its character.

Diversity

Did you know that the W Elmgate St / W Almora St neighborhood has more Asian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 55.7% of this neighborhood's residents have Asian ancestry.

W Elmgate St / W Almora St is also pretty special linguistically. Significantly, 37.3% of its residents five years old and above primarily speak Chinese at home. While this may seem like a small percentage, it is higher than 99.8% 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 W Elmgate St / W Almora St neighborhood in Monterey Park are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 63.0% 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.

A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

In the W Elmgate St / W Almora St neighborhood, 47.8% 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 20.2% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (16.8%), and 14.6% in manufacturing and laborer 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 W Elmgate St / W Almora St neighborhood is Chinese, spoken by 37.3% of households. Other important languages spoken here include English, Spanish, Japanese and Vietnamese.

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 W Elmgate St / W Almora St neighborhood in Monterey Park, CA, residents most commonly identify their ethnicity or ancestry as Asian (55.7%). There are also a number of people of Mexican ancestry (31.7%), and residents who report French roots (1.7%), and some of the residents are also of German ancestry (1.4%), along with some South American ancestry residents (1.3%), among others. In addition, 36.6% 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 W Elmgate St / W Almora St neighborhood spend between 15 and 30 minutes commuting one-way to work (33.7% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (72.5%) 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 (7.8%) . 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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