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Real Estate Prices & Overview

Holmby Park median real estate price is $5,538,704, which is more expensive than 99.7% of the neighborhoods in California and 99.9% of the neighborhoods in the U.S.

The average rental price in Holmby Park is currently $5,522, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 96.9% of the neighborhoods in California.

Holmby Park is a suburban neighborhood (based on population density) located in Los Angeles, California.

Holmby Park real estate is primarily made up of small (studio to two bedroom) to large (four, five or more bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is owner occupied. Many of the residences in the Holmby Park neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

Vacant apartments or homes are a major fact of life in Holmby Park. The current real estate vacancy rate here is 16.9%. This is higher than the rate of vacancies in 81.9% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.

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

Occupations

Executives, managers and professionals make up 80.4% of the workforce in the Holmby Park neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 99.1% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.

People

If you are planning to retire in California, this neighborhood should be on your must-see list. For many reasons, Holmby Park may be considered a retiree's dream neighborhood. According to NeighborhoodScout's exclusive analysis and metrics, it's peaceful and quiet, has above average safety from crime compared to other neighborhoods in California, while also offering a diverse range of housing options. This, along with the vibrant mix of very educated seniors and other age groups who choose to live here, makes the neighborhood more retiree-friendly than 99.1% of neighborhoods in CA. If a California retirement is in your future, this neighborhood should be one of the places you visit. In addition to being an excellent choice for active retirees, this neighborhood is also a very good choice for highly educated executives and urban sophisticates.

In addition, the rate of college educated adults in the Holmby Park neighborhood is a unique characteristic of the neighborhood. 76.0% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 34.3% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 96.5% of all U.S. neighborhoods.

Also, one of the most interesting things about the Holmby Park neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 49.1% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 95.1% of the neighborhoods in America.

Diversity

Did you know that the Holmby Park neighborhood has more British and Iranian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 13.1% of this neighborhood's residents have British ancestry and 6.3% have Iranian ancestry.

Holmby Park is also pretty special linguistically. Significantly, 13.6% of its residents five years old and above primarily speak Persian at home. While this may seem like a small percentage, it is higher than 100.0% of the neighborhoods in America.

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 Holmby Park neighborhood in Los Angeles 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 85.9% of the neighborhoods in America. With 13.7% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 57.6% 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 Holmby Park neighborhood, 80.4% 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 17.7% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (8.0%).

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 Holmby Park neighborhood is English, spoken by 69.5% of households. Other important languages spoken here include Persian and Spanish.

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 Holmby Park neighborhood in Los Angeles, CA, residents most commonly identify their ethnicity or ancestry as British (13.1%). There are also a number of people of Swedish ancestry (11.4%), and residents who report Russian roots (10.5%), and some of the residents are also of German ancestry (7.7%), along with some English ancestry residents (6.6%), among others. In addition, 27.4% 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 Holmby Park neighborhood spend under 15 minutes commuting one-way to work (31.3% of working residents), one of the shortest commutes across America.

Here most residents (69.7%) 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 (5.8%) . 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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