Macarthur Park median real estate price is $774,014, which is more expensive than 40.7% of the neighborhoods in California and 83.6% of the neighborhoods in the U.S.
The average rental price in Macarthur Park is currently $1,915, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 89.5% of California neighborhoods.
Macarthur Park is a densely urban neighborhood (based on population density) located in Los Angeles, California.
Macarthur Park 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 small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Macarthur Park 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 2000 and the present.
Home and apartment vacancy rates are 6.1% in Macarthur Park. NeighborhoodScout analysis shows that this rate is lower than 59.1% of the neighborhoods in the nation, approximately near the middle range for vacancies.
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 Macarthur Park neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
More people ride the bus in this neighborhood each day to get to work than 99.9% of U.S. neighborhoods.
From major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the Macarthur Park neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 99.3% of all American neighborhoods.
98.9% of the real estate in the Macarthur Park neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
In addition, the real estate in the Macarthur Park neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 94.0% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 98.8% of American neighborhoods.
Furthermore, the Macarthur Park 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 93.0% 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.
Also of note, the Macarthur Park neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 49,994 persons per square mile in the neighborhood, it is more packed with people than 98.4% of the nation's neighborhoods. 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 Macarthur Park neighborhood is one of the most walkable neighborhoods in America.
We Americans love our cars. Not only are they a necessity for most Americans due to the shape of our neighborhoods and the distances between where we live, work, shop, and go to school, but we also fancy them. As a result, most households in America have one, two, or three cars. But NeighborhoodScout's exclusive analysis shows that the Macarthur Park neighborhood has a highly unusual pattern of car ownership. 37.6% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.9% of U.S. neighborhoods.
Significantly, 7.4% 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 99.4% of the neighborhoods in America.
The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. What is interesting to note, is that the Macarthur Park neighborhood has a greater percentage of residents born in another country (54.2%) than are found in 98.5% 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 Macarthur Park 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 94.2% of U.S. neighborhoods. With 24.8% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 75.4% 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 Macarthur Park neighborhood, 49.2% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 27.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (14.9%), and 7.6% 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 Macarthur Park neighborhood is Spanish, spoken by 62.1% of households. Other important languages spoken here include English, Korean and Tagalog (the first language of the Philippine region).
Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.
In the Macarthur Park neighborhood in Los Angeles, CA, residents most commonly identify their ethnicity or ancestry as Mexican (29.0%). There are also a number of people of Asian ancestry (12.8%), and residents who report English roots (1.7%). In addition, 54.2% 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 Macarthur Park neighborhood spend between 30 and 45 minutes commuting one-way to work (43.1% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (41.4%) ride the bus to get to work. In addition, quite a number also drive alone in a private automobile to get to work (34.2%) and 11.6% of residents also carpool with coworkers, friends, or neighbors for their daily commute. The bus provides a valuable service in the Macarthur Park neighborhood of Los Angeles by getting a lot of residents to and from work daily, reducing the costs of commuting and reducing some congestion on the roads as well.