Panorama City Southwest median real estate price is $764,384, which is more expensive than 39.7% of the neighborhoods in California and 83.1% of the neighborhoods in the U.S.
The average rental price in Panorama City Southwest is currently $2,218, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 82.3% of California neighborhoods.
Panorama City Southwest is a densely urban neighborhood (based on population density) located in Los Angeles, California.
Panorama City Southwest 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 Panorama City Southwest neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
In Panorama City Southwest, the current vacancy rate is 3.0%, which is a lower rate of vacancies than 80.1% of all neighborhoods in the U.S. This means that the housing supply in Panorama City Southwest is very tight compared to the demand for property here.
The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
93.1% of the real estate in the Panorama City Southwest neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
In addition, one of the really unique and interesting things about the look and setting of the Panorama City Southwest neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 85.0% 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 97.4% of all neighborhoods in America.
Furthermore, the Panorama City Southwest 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 83.4% 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.
Our research revealed that more commuters here take the bus to work (13.2% ride the bus) than 96.6% of all American neighborhoods. If you like the idea of leaving your car and home and hopping the bus to work, this might be a good neighborhood for you to consider.
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 Panorama City Southwest neighborhood. More residents of the Panorama City Southwest neighborhood live here today that also were living in this same neighborhood five years ago than is found in 95.8% 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. What is interesting to note, is that the Panorama City Southwest neighborhood has a greater percentage of residents born in another country (54.7%) than are found in 98.5% of all U.S. neighborhoods.
Did you know that the Panorama City Southwest neighborhood has more Armenian and Mexican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.1% of this neighborhood's residents have Armenian ancestry and 62.4% have Mexican ancestry.
Panorama City Southwest is also pretty special linguistically. Significantly, 86.3% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 99.2% of all U.S. neighborhoods.
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 Panorama City Southwest neighborhood in Los Angeles are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 88.3% of U.S. neighborhoods. With 38.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 88.0% 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 Panorama City Southwest neighborhood, 41.2% 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 32.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (19.5%), and 7.2% in executive, management, and professional occupations.
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 Panorama City Southwest neighborhood is Spanish, spoken by 86.3% of households. Other important languages spoken here include English, Tagalog (the first language of the Philippine region) and Arabic.
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 Panorama City Southwest neighborhood in Los Angeles, CA, residents most commonly identify their ethnicity or ancestry as Mexican (62.4%). There are also a number of people of Asian ancestry (5.0%), and residents who report South American roots (3.6%), and some of the residents are also of Arab ancestry (2.9%), along with some Armenian ancestry residents (1.1%), among others. In addition, 54.7% of the residents of this neighborhood were born in another country.
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 Panorama City Southwest neighborhood spend between 15 and 30 minutes commuting one-way to work (31.1% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (60.6%) 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 (18.4%) and 13.2% of residents also ride the bus 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.