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Real Estate Prices & Overview

Palos Verdes Peninsula Northwest median real estate price is $2,269,594, which is more expensive than 96.8% of the neighborhoods in California and 99.3% of the neighborhoods in the U.S.

The average rental price in Palos Verdes Peninsula Northwest is currently $4,406, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 79.2% of the neighborhoods in California.

Palos Verdes Peninsula Northwest 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).

Palos Verdes Peninsula Northwest real estate is primarily made up of large (four, five or more bedroom) to medium sized (three or four bedroom) single-family homes. Most of the residential real estate is owner occupied. Many of the residences in the Palos Verdes Peninsula Northwest neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

Palos Verdes Peninsula Northwest has a 10.7% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 63.1% of American neighborhoods). A relatively large percentage of housing here is seasonally occupied (6.2%), which can occur in some markets dominated by colleges or vacation homes. If you live here year round, you will find many of the homes or apartments are empty for all or a portion of the year.

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

Do you like a coastal setting? If so, this neighborhood may be to your liking. The Palos Verdes Peninsula Northwest neighborhood is on the ocean, a bay, or inlet. Often such coastal places have amenities and recreational activities on the waterfront that are attractive to residents and visitors alike. In addition to being coastal, Palos Verdes Peninsula Northwest 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.

In addition, the Palos Verdes Peninsula Northwest neighborhood has earned the amazing distinction of having one of the highest rates of detached, single-family homes of any neighborhood in the U.S. With 100.0% of the residential real estate here made up of free-standing single-family homes, there is a greater proportion of single-family homes here than in 98.5% of all neighborhoods in America.

Furthermore, one way that the Palos Verdes Peninsula Northwest neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 98.3% of the neighborhoods in America. When you walk or drive around this neighborhood, you'll instantly notice the size of the homes here which definitely makes a strong visual statement.

Also of note, owner-occupied real estate dominates the Palos Verdes Peninsula Northwest neighborhood. In fact, according to NeighborhoodScout research, the percentage of residential real estate occupied by its owner is higher here than in 95.6% of neighborhoods in America.

People

According to NeighborhoodScout's exclusive analysis, Palos Verdes Peninsula Northwest is among the best neighborhoods for families in California. In fact, this neighborhood is more family-friendly than 99.5% of neighborhoods in the entire state of California. Its combination of top public schools, low crime rates, and owner-occupied single family homes gives this area the look and feel of a "Leave It to Beaver" episode. Many other families also live here, making it easy to socialize and develop a strong sense of community. In addition, the high number of college-educated parents influences the academic success of the local schools. Overall, you will find all of the amenities a family needs to thrive in the Palos Verdes Peninsula Northwest neighborhood. In addition to being an excellent choice for families with school-aged children, this neighborhood is also a very good choice for urban sophisticates, active retirees and highly educated executives.

In addition, 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 2.3% of America's neighborhoods are wealthier than the Palos Verdes Peninsula Northwest 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.

Also, if knowledge is power, then imagine the cumulative power of one neighborhood where many of the adults have earned an advanced degree, such as a Masters, law degree, medical degree, or even a Ph.D. This is certainly the case in the Palos Verdes Peninsula Northwest neighborhood, where 39.3% have earned an advanced degree. Compare that to the average neighborhood in America, where just 13.1% of adults have completed a post-graduate degree, and you can see why this neighborhood is a stand out. In fact, this neighborhood has a higher rate of adults with an advanced degree than 97.0% of the neighborhoods in America.

Diversity

Did you know that the Palos Verdes Peninsula Northwest neighborhood has more British and Iranian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.0% of this neighborhood's residents have British ancestry and 2.5% have Iranian ancestry.

Palos Verdes Peninsula Northwest is also pretty special linguistically. Significantly, 11.8% 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 98.3% 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 Palos Verdes Peninsula Northwest 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 97.7% of the neighborhoods in America. In addition, 3.8% 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 69.2% 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 Peninsula Northwest neighborhood, 58.2% 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 32.8% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (7.0%), and 2.5% in government jobs, whether they are in local, state, or federal positions.

Languages

The most common language spoken in the Palos Verdes Peninsula Northwest neighborhood is English, spoken by 72.3% of households. Some people also speak Chinese (11.8%).

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 Palos Verdes Peninsula Northwest neighborhood in Palos Verdes Estates, CA, residents most commonly identify their ethnicity or ancestry as Asian (28.3%). There are also a number of people of German ancestry (12.1%), and residents who report Irish roots (9.1%), and some of the residents are also of English ancestry (8.2%), along with some Italian ancestry residents (5.0%), among others. In addition, 22.8% 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 Palos Verdes Peninsula Northwest neighborhood spend between 45 minutes and one hour commuting one-way to work (36.9% of working residents), longer and tougher than most commutes in America.

Here most residents (82.3%) 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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