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Real Estate Prices & Overview

Banana Park median real estate price is $679,424, which is more expensive than 36.5% of the neighborhoods in California and 81.5% of the neighborhoods in the U.S.

The average rental price in Banana Park is currently $2,608, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 68.2% of California neighborhoods.

Banana Park is a densely urban neighborhood (based on population density) located in Paramount, California.

Banana Park real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and mobile homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Banana Park neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

In Banana Park, 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 Banana Park is very tight compared to the demand for property here.

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 Paramount, the Banana Park neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

With a real estate vacancy rate of only 0.0%, the Banana Park neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.

Occupations

NeighborhoodScout's exclusive research identifies the Banana Park 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 45.0% of its working residents employed in such fields, which is a higher proportion than 97.1% of American neighborhoods.

People

NeighborhoodScout's exclusive research revealed that 94.4% of the adult residents in the Banana Park neighborhood do not have a 4-year college degree, which is a lower rate of college graduated adults than found in 96.7% of the neighborhoods in America.

Diversity

Did you know that the Banana Park neighborhood has more Mexican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 79.9% of this neighborhood's residents have Mexican ancestry.

Banana Park is also pretty special linguistically. Significantly, 75.6% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 98.1% 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 Banana Park neighborhood live here today that also were living in this same neighborhood five years ago than is found in 96.3% 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.

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 Banana Park neighborhood in Paramount are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 60.8% of U.S. neighborhoods. With 12.2% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 54.4% 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 Banana Park neighborhood, 45.0% 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 22.5% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (18.9%), and 12.6% in executive, management, and professional occupations.

Languages

The most common language spoken in the Banana Park neighborhood is Spanish, spoken by 75.6% of households. Some people also speak English (24.3%).

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 Banana Park neighborhood in Paramount, CA, residents most commonly identify their ethnicity or ancestry as Mexican (79.9%). There are also a number of people of South American ancestry (3.1%). In addition, 34.4% 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 Banana Park neighborhood spend between 15 and 30 minutes commuting one-way to work (40.0% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (77.4%) 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 (16.0%) . 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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