Koreatown North median real estate price is $2,676,598, which is more expensive than 94.2% of the neighborhoods in California and 98.9% of the neighborhoods in the U.S.
The average rental price in Koreatown North is currently $2,502, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 74.4% of California neighborhoods.
Koreatown North is a densely urban neighborhood (based on population density) located in Los Angeles, California.
Koreatown North 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 Koreatown North 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.
Real estate vacancies in Koreatown North are 4.5%, which is lower than one will find in 69.8% of American neighborhoods. Demand for real estate in Koreatown North is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.
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.
From major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the Koreatown North neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 98.5% of all American neighborhoods.
More people ride the bus in this neighborhood each day to get to work than 98.5% of U.S. neighborhoods.
The Koreatown North 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 86.5% 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, if you like crowded places, then you will probably enjoy the the Koreatown North neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 95.8% of neighborhoods in the U.S., with 23,645 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 Koreatown North neighborhood is one of the most walkable neighborhoods in America.
Furthermore, renter-occupied real estate is dominant in the Koreatown North neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 86.9%, which is higher than 95.9% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.
Also of note, the real estate in the Koreatown North 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, 71.5% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 95.3% of American neighborhoods.
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 Koreatown North neighborhood has a greater percentage of residents born in another country (51.6%) than are found in 98.0% of all U.S. neighborhoods.
Did you know that the Koreatown North neighborhood has more Eastern European ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.8% of this neighborhood's residents have Eastern European ancestry.
Koreatown North is also pretty special linguistically. Significantly, 9.9% 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 99.6% 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 Koreatown North 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 72.6% of U.S. neighborhoods. With 42.7% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 90.6% 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 Koreatown North neighborhood, 44.9% 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 executive, management, and professional occupations, with 33.8% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (11.0%), and 10.3% 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 Koreatown North neighborhood is Spanish, spoken by 44.5% of households. Other important languages spoken here include English, Korean 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 Koreatown North neighborhood in Los Angeles, CA, residents most commonly identify their ethnicity or ancestry as Mexican (31.5%). There are also a number of people of Asian ancestry (23.4%), and residents who report German roots (3.5%), and some of the residents are also of Irish ancestry (2.5%), along with some Eastern European ancestry residents (1.8%), among others. In addition, 51.6% 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 Koreatown North neighborhood spend between 45 minutes and one hour commuting one-way to work (29.7% of working residents), longer and tougher than most commutes in America.
Here most residents (53.7%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (19.3%) and 10.3% 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.