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Real Estate Prices & Overview

W 78th St / S Vermont Ave median real estate price is $743,820, which is more expensive than 36.7% of the neighborhoods in California and 81.4% of the neighborhoods in the U.S.

The average rental price in W 78th St / S Vermont Ave is currently $2,393, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 80.3% of California neighborhoods.

W 78th St / S Vermont Ave is a densely urban neighborhood (based on population density) located in Los Angeles, California.

W 78th St / S Vermont Ave real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the W 78th St / S Vermont Ave neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1940 and 1969.

Real estate vacancies in W 78th St / S Vermont Ave are 4.7%, which is lower than one will find in 67.7% of American neighborhoods. Demand for real estate in W 78th St / S Vermont Ave 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 Los Angeles, the W 78th St / S Vermont Ave neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Car Ownership

American households most often have a car, and regularly they have two or three. But households in the W 78th St / S Vermont Ave neighborhood buck this trend. Residents of this neighborhood must really love automobiles. NeighborhoodScout's Analysis reveals that 40.3% of the households here have four, five, or more cars. That is more cars per household than in 98.3% of the neighborhoods in the nation.

Occupations

NeighborhoodScout's exclusive research identifies the W 78th St / S Vermont Ave 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 45.3% of its working residents employed in such fields, which is a higher proportion than 97.4% of American neighborhoods.

Real Estate

If you like crowded places, then you will probably enjoy the the W 78th St / S Vermont Ave neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 96.5% of neighborhoods in the U.S., with 27,634 people per square mile living here. Being a walkable neighborhood can help increase property values for the simple reason that people enjoy it and value it. To put it plainly, despite our love affair with the automobile, American's enjoy taking to the streets, sidewalks, paths, and courtyards of a place to get a coffee, relax, and take in the sights and sounds. And, according to NeighborhoodScout's exclusive and first quantitative walkable score index, the W 78th St / S Vermont Ave neighborhood is one of the most walkable neighborhoods in America.

In addition, renter-occupied real estate is dominant in the W 78th St / S Vermont Ave neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 84.9%, which is higher than 95.3% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.

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. What is interesting to note, is that the W 78th St / S Vermont Ave neighborhood has a greater percentage of residents born in another country (45.5%) than are found in 96.2% of all U.S. neighborhoods.

Diversity

Did you know that the W 78th St / S Vermont Ave neighborhood has more Mexican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 57.8% of this neighborhood's residents have Mexican ancestry.

W 78th St / S Vermont Ave is also pretty special linguistically. Significantly, 78.7% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 98.5% of all U.S. neighborhoods.

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 W 78th St / S Vermont Ave neighborhood in Los Angeles are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 80.3% of U.S. neighborhoods. With 29.2% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 81.0% of U.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 W 78th St / S Vermont Ave neighborhood, 45.3% 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 25.4% of the residents employed. Other residents here are employed in executive, management, and professional occupations (16.4%), and 13.0% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the W 78th St / S Vermont Ave neighborhood is Spanish, spoken by 78.7% of households. Some people also speak English (20.6%).

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 W 78th St / S Vermont Ave neighborhood in Los Angeles, CA, residents most commonly identify their ethnicity or ancestry as Mexican (57.8%). There are also a number of people of Sub-Saharan African ancestry (1.2%), and residents who report African roots (1.2%), and some of the residents are also of Dominican ancestry (1.2%). In addition, 45.5% 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 W 78th St / S Vermont Ave neighborhood spend between 15 and 30 minutes commuting one-way to work (32.9% 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 (15.7%) . 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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