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Real Estate Prices & Overview

Pico Union Southeast median real estate price is $1,203,476, which is more expensive than 72.4% of the neighborhoods in California and 93.9% of the neighborhoods in the U.S.

The average rental price in Pico Union Southeast is currently $2,079, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 86.1% of California neighborhoods.

Pico Union Southeast is a densely urban neighborhood (based on population density) located in Los Angeles, California.

Pico Union Southeast 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 Pico Union Southeast 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 1970 and 1999.

Home and apartment vacancy rates are 8.6% in Pico Union Southeast. NeighborhoodScout analysis shows that this rate is lower than 44.7% of the neighborhoods in the nation, approximately near the middle range for vacancies.

Notable & Unique Neighborhood Characteristics

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.

Modes of Transportation

More people ride the bus in this neighborhood each day to get to work than 99.3% of U.S. neighborhoods.

Real Estate

92.0% of the real estate in the Pico Union Southeast neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.

In addition, even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. What many people don't realize is that most of America's premier vacation locations are also very walkable. The Pico Union Southeast neighborhood is among the top 5% of American neighborhoods in terms of walkability.

Furthermore, if you find historic homes and neighborhoods attractive, you love the details, the history, and the charm, then you are sure to be interested in this neighborhood. With 60.4% of the residential real estate in the Pico Union Southeast neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 96.6% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.

Occupations

More people work in manufacturing and as laborers here in the Pico Union Southeast neighborhood than in 96.0% of the neighborhoods in America. Despite the loss of manufacturing jobs across the nation, this neighborhood remains a place where, compared to other parts of the country, you will find many laborers and manufacturers.

Diversity

Did you know that the Pico Union Southeast neighborhood has more Mexican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 66.5% of this neighborhood's residents have Mexican ancestry.

Pico Union Southeast is also pretty special linguistically. Significantly, 81.8% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 98.8% of all U.S. neighborhoods.

Migration / Stability

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. More residents of the Pico Union Southeast neighborhood live here today that also were living in this same neighborhood five years ago than is found in 96.2% 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 Pico Union Southeast neighborhood has a greater percentage of residents born in another country (43.3%) than are found in 95.5% of all U.S. neighborhoods.

The Neighbors

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 Pico Union Southeast neighborhood in Los Angeles are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 78.3% of U.S. neighborhoods. With 33.2% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 84.1% of U.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 Pico Union Southeast neighborhood, 43.0% 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 30.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (14.3%), and 11.9% in executive, management, and professional occupations.

Languages

The most common language spoken in the Pico Union Southeast neighborhood is Spanish, spoken by 81.8% of households. Some people also speak English (16.0%).

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 Pico Union Southeast neighborhood in Los Angeles, CA, residents most commonly identify their ethnicity or ancestry as Mexican (66.5%). There are also a number of people of Asian ancestry (2.1%), and residents who report Puerto Rican roots (1.1%). In addition, 43.3% of the residents of this neighborhood were born in another country.

Getting to Work

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 Pico Union Southeast neighborhood spend between 30 and 45 minutes commuting one-way to work (47.3% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (45.6%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (24.8%) and 14.8% 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.


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