Olde Torrance West median real estate price is $938,143, which is more expensive than 52.8% of the neighborhoods in California and 87.5% of the neighborhoods in the U.S.
The average rental price in Olde Torrance West is currently $3,795, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 66.3% of the neighborhoods in California.
Olde Torrance West is an urban neighborhood (based on population density) located in Torrance, California.
Olde Torrance West 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 occupied by a mixture of owners and renters. Many of the residences in the Olde Torrance West neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1940 and 1969.
Vacant apartments or homes are a major fact of life in Olde Torrance West. The current real estate vacancy rate here is 16.7%. This is higher than the rate of vacancies in 82.6% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (10.0%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.
When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.
The Olde Torrance West neighborhood stands out nationally for having a greater proportion of its residents active in the military than 95.9% of other U.S. neighborhoods. If you come here, you will notice military people active in their jobs, going to and from work, and in plain clothes out and about the neighborhood.
According to NeighborhoodScout's research, Olde Torrance West is better suited for first-time home buyers than 86.1% of neighborhoods in the state. Most homes here are priced below the state's median house value, yet maintain comparably good appreciation rates over the last decade relative to other neighborhoods in California. Along with an exclusive multi-metric measure of neighborhood quality developed by NeighborhoodScout that scores high here in this neighborhood, this means that buying into the neighborhood is not only an accessible option but considered a decent first time home buyer choice for building equity in your first home, while being in a quality neighborhood In addition to being an excellent choice for first-time home buyers, this neighborhood is also a very good choice for urban sophisticates.
Did you know that the Olde Torrance West neighborhood has more Asian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 53.5% of this neighborhood's residents have Asian ancestry.
Olde Torrance West is also pretty special linguistically. Significantly, 14.0% of its residents five years old and above primarily speak Japanese at home. While this may seem like a small percentage, it is higher than 100.0% of the neighborhoods in America.
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 Olde Torrance West neighborhood in Torrance 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 88.8% of the neighborhoods in America. In addition, 6.8% 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 58.5% of America's neighborhoods.
A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.
In the Olde Torrance West neighborhood, 62.7% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 14.6% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (12.5%), and 10.1% in clerical, assistant, and tech support 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 Olde Torrance West neighborhood is English, spoken by 47.6% of households. Other important languages spoken here include Korean, Japanese, Spanish and Tagalog (the first language of the Philippine region).
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 Olde Torrance West neighborhood in Torrance, CA, residents most commonly identify their ethnicity or ancestry as Asian (53.5%). There are also a number of people of Mexican ancestry (8.5%), and residents who report Irish roots (3.7%), and some of the residents are also of Sub-Saharan African ancestry (2.1%), along with some Italian ancestry residents (1.9%), among others. In addition, 37.6% 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 Olde Torrance West neighborhood spend between 15 and 30 minutes commuting one-way to work (48.2% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (81.3%) drive alone in a private automobile to get to work. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.