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Real Estate Prices & Overview

Monterey Park West median real estate price is $934,560, which is more expensive than 67.3% of the neighborhoods in California and 92.2% of the neighborhoods in the U.S.

The average rental price in Monterey Park West is currently $3,208, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 52.5% of California neighborhoods.

Monterey Park West is a suburban neighborhood (based on population density) located in Monterey Park, California.

Monterey Park West real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Monterey Park West 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 Monterey Park West are 6.0%, which is lower than one will find in 61.6% of American neighborhoods. Demand for real estate in Monterey Park West 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 Monterey Park, the Monterey Park West neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Car Ownership

We Americans love our cars. Not only are they a necessity for most Americans due to the shape of our neighborhoods and the distances between where we live, work, shop, and go to school, but we also fancy them. As a result, most households in America have one, two, or three cars. But NeighborhoodScout's exclusive analysis shows that the Monterey Park West neighborhood has a highly unusual pattern of car ownership. Residents of this neighborhood must really love automobiles. NeighborhoodScout's Analysis reveals that 34.9% of the households here have four, five, or more cars. That is more cars per household than in 96.2% of the neighborhoods in the nation.

People

If you're nearing retirement age, or in retirement, the Monterey Park West is an excellent choice for you to consider for top-quality retirement living. This neighborhood is rated by NeighborhoodScout as among the top 9.5% of retiree-friendly neighborhoods in California, combining peace and quiet, safety from crime, and offering diverse housing options from which retirees can choose. Maybe it's because of these amenities that a large proportion of the residents here are college educated seniors, mixed with other age groups. For these and other reasons, NeighborhoodScout identifies this neighborhood as a top-notch place to consider if you are thinking of or planning to retire in California. In addition to being an excellent choice for active retirees, this neighborhood is also a very good choice for families with school-aged children.

Diversity

Did you know that the Monterey Park West neighborhood has more Asian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 78.1% of this neighborhood's residents have Asian ancestry.

Monterey Park West is also pretty special linguistically. Significantly, 7.2% of its residents five years old and above primarily speak Japanese at home. While this may seem like a small percentage, it is higher than 99.8% of the neighborhoods in America.

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 Monterey Park West 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 77.3% of the neighborhoods in America. In addition, 4.0% 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 68.5% 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 Monterey Park West neighborhood, 50.9% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 20.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (16.0%), and 12.7% in sales and service jobs, from major sales accounts, to working in fast food restaurants.

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 Monterey Park West neighborhood is English, spoken by 42.9% of households. Other important languages spoken here include Chinese, Spanish, Japanese and Korean.

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 Monterey Park West neighborhood in Monterey Park, CA, residents most commonly identify their ethnicity or ancestry as Asian (78.1%). There are also a number of people of Mexican ancestry (13.1%), and residents who report Irish roots (4.2%). In addition, 40.5% 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 Monterey Park West neighborhood spend between 30 and 45 minutes commuting one-way to work (33.1% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (76.9%) 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 (13.9%) . 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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