S Olive St / W 6th St median real estate price is $1,141,376, which is more expensive than 63.6% of the neighborhoods in California and 90.9% of the neighborhoods in the U.S.
The average rental price in S Olive St / W 6th St is currently $4,521, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 83.2% of the neighborhoods in California.
S Olive St / W 6th St is a densely urban neighborhood (based on population density) located in Los Angeles, California.
S Olive St / W 6th St 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 S Olive St / W 6th St neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.
S Olive St / W 6th St has a 13.0% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 72.8% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.
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 S Olive St / W 6th St neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
Of note is NeighborhoodScout's research finding that the S Olive St / W 6th St neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the S Olive St / W 6th St community truly stands out from the rest in this regard.
In addition, the types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. NeighborhoodScout's exclusive analysis reveals that this neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone: 64.6%. This is a higher percent living alone than we found in 99.4% of all U.S. neighborhoods. Often residents who live alone are new arrivals to an area who are single, and often senior citizens who have lost a spouse.
Real Estate
The S Olive St / W 6th St neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 99.9% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
In addition, one of the really unique and interesting things about the look and setting of the S Olive St / W 6th St neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 95.1% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 99.0% of all neighborhoods in America.
Furthermore, if you like crowded places, then you will probably enjoy the the S Olive St / W 6th St neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 96.9% of neighborhoods in the U.S., with 30,124 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 S Olive St / W 6th St neighborhood is one of the most walkable neighborhoods in America.
Also of note, 87.9% of the real estate in the S Olive St / W 6th St neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
Modes of Transportation
In the S Olive St / W 6th St neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 20.2% of residents here. This is a higher proportion of walking commuters than we found in 98.2% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Occupations
Executives, managers and professionals make up 70.8% of the workforce in the S Olive St / W 6th St neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 95.9% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
Diversity
Did you know that the S Olive St / W 6th St neighborhood has more Asian and Iranian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 42.0% of this neighborhood's residents have Asian ancestry and 1.5% have Iranian ancestry.
S Olive St / W 6th St is also pretty special linguistically. Significantly, 21.7% of its residents five years old and above primarily speak Korean at home. While this may seem like a small percentage, it is higher than 99.9% of the neighborhoods in America.
Migration / Stability
Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the S Olive St / W 6th St neighborhood. In the S Olive St / W 6th St neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 97.2% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas. What is also interesting to note, is that the S Olive St / W 6th St neighborhood has a greater percentage of residents born in another country (42.3%) than are found in 95.0% of all U.S. neighborhoods.
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 S Olive St / W 6th St neighborhood in Los Angeles are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 65.1% 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 S Olive St / W 6th St neighborhood, 70.8% 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 17.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (11.0%).
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 S Olive St / W 6th St neighborhood is English, spoken by 41.4% of households. Other important languages spoken here include Korean, Spanish, Chinese and Langs. of India.
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 S Olive St / W 6th St neighborhood in Los Angeles, CA, residents most commonly identify their ethnicity or ancestry as Asian (42.0%). There are also a number of people of Mexican ancestry (6.4%), and residents who report South American roots (6.4%), and some of the residents are also of Puerto Rican ancestry (6.2%), along with some German ancestry residents (4.4%), among others. In addition, 42.3% of the residents of this neighborhood were born in another country.
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 S Olive St / W 6th St neighborhood spend under 15 minutes commuting one-way to work (35.9% of working residents), one of the shortest commutes across America.
Here most residents (39.2%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (20.2%) and 6.9% of residents also carpool with coworkers, friends, or neighbors for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
