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Real Estate Prices & Overview

Median real estate price in the City Center of Palos Verdes Estates is $1,754,714, which is more expensive than 91.4% of the neighborhoods in California and 98.1% of the neighborhoods in the U.S.

The average rental price in Palos Verdes Estates City Center is currently $5,926, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 95.3% of the neighborhoods in California.

Palos Verdes Estates City Center is a suburban neighborhood (based on population density) located in Palos Verdes Estates, California. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).

Real estate in the City Center of Palos Verdes Estates, CA 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 City Center neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

Home and apartment vacancy rates are 7.8% in Palos Verdes Estates City Center. NeighborhoodScout analysis shows that this rate is lower than 51.1% of the neighborhoods in the nation, approximately near the middle range for vacancies.

Notable & Unique Neighborhood Characteristics

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.

Real Estate

Palos Verdes Estates City Center is a neighborhood that is on the ocean, a bay, or inlet. Many times, such places have amenities that bring locals and visitors to the waterfront for recreational activities or to check out the scenery. In some densely populated areas that are less financially well-off, the neighborhood waterfront can be relatively industrial and less open to recreation. In addition to being coastal, Palos Verdes Estates City Center is a very nautical neighborhood, meaning that it is somewhat historic, walkable, densely populated and on the water. This gives the neighborhood a very nautical feel, with some seaside and shipping feel, which some may really enjoy the sights and sounds of.

People

If you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 1.1% of America's neighborhoods are wealthier than the Palos Verdes Estates City Center neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe. As one would expect in a considerably wealthy neighborhood such as this, Palos Verdes Estates City Center also has one of the lowest ratings of child poverty in the nation.

In addition, if you're a regular supporter of the arts and enjoy outings to the theatre, weekend boutique-ing, or even a finely aged wine with dinner, than you're in good company with the people of the Palos Verdes Estates City Center neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 98.8% of neighborhoods across the country. The people here truly stand out as a class among their own. They are an exclusive community characterized by refined tastes, cultural inclinations, and the means to live well. Urban sophisticates live a big city lifestyle, whether or not they live in or near a big city. They are educated executives or managers by week, and serial patrons of the arts by weekend. If this lifestyle pertains to you, than you'll certainly feel right at home in the Palos Verdes Estates City Center neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for active retirees, families with school-aged children and highly educated executives.

Also, the rate of college educated adults in the Palos Verdes Estates City Center neighborhood is a unique characteristic of the neighborhood. 82.9% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 33.7% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 98.6% of all U.S. neighborhoods.

Diversity

Did you know that the Palos Verdes Estates City Center neighborhood has more Brazilian and Armenian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.4% of this neighborhood's residents have Brazilian ancestry and 0.7% have Armenian ancestry.

Palos Verdes Estates City Center is also pretty special linguistically. Significantly, 9.2% 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 99.9% 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 City Center neighborhood in Palos Verdes Estates are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 98.9% 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.

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 Palos Verdes Estates City Center neighborhood, 58.5% 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 30.7% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (7.8%), and 2.9% 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 Palos Verdes Estates City Center neighborhood is English, spoken by 79.3% of households. Other important languages spoken here include Japanese, Polish and Spanish.

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 City Center neighborhood in Palos Verdes Estates, CA, residents most commonly identify their ethnicity or ancestry as Irish (20.6%). There are also a number of people of Asian ancestry (19.6%), and residents who report German roots (14.7%), and some of the residents are also of English ancestry (12.5%), along with some Italian ancestry residents (8.2%), among others. In addition, 11.6% 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 Palos Verdes Estates City Center neighborhood spend between 45 minutes and one hour commuting one-way to work (27.5% of working residents), longer and tougher than most commutes in America.

Here most residents (79.8%) drive alone in a private automobile to get to work. 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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