Downtown Santa Monica median real estate price is $3,455,159, which is more expensive than 98.5% of the neighborhoods in California and 99.7% of the neighborhoods in the U.S.
The average rental price in Downtown Santa Monica is currently $4,511, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 85.8% of the neighborhoods in California.
Downtown Santa Monica is an urban neighborhood (based on population density) located in Santa Monica, California. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).
Downtown Santa Monica 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 Downtown Santa Monica neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1940 and 1969.
Downtown Santa Monica has a 13.0% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 72.5% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.
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 Santa Monica, the Downtown Santa Monica neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Real Estate
Downtown Santa Monica is a neighborhood that is on the ocean, a bay, or inlet. Many times, such places have amenities that bring locals and visitors to the waterfront for recreational activities or to check out the scenery. In some densely populated areas that are less financially well-off, the neighborhood waterfront can be relatively industrial and less open to recreation. In addition to being coastal, Downtown Santa Monica is a very nautical neighborhood, meaning that it is somewhat historic, walkable, densely populated and on the water. This gives the neighborhood a very nautical feel, with some seaside and shipping feel, which some may really enjoy the sights and sounds of.
In addition, the real estate in the Downtown Santa Monica 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, 94.5% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 98.9% of American neighborhoods.
Furthermore, the Downtown Santa Monica 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 93.3% 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, renter-occupied real estate is dominant in the Downtown Santa Monica neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 95.9%, which is higher than 98.2% 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.
People
The types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. NeighborhoodScout's exclusive analysis reveals that this neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone: 60.8%. This is a higher percent living alone than we found in 98.9% of all U.S. neighborhoods. Often residents who live alone are new arrivals to an area who are single, and often senior citizens who have lost a spouse.
Modes of Transportation
In the Downtown Santa Monica neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 27.9% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 95.6% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.
Also, more people in Downtown Santa Monica choose to walk to work each day (11.1%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.
Diversity
Did you know that the Downtown Santa Monica neighborhood has more Russian and Iranian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 12.1% of this neighborhood's residents have Russian ancestry and 2.7% have Iranian ancestry.
Downtown Santa Monica is also pretty special linguistically. Significantly, 4.4% of its residents five years old and above primarily speak Russian at home. While this may seem like a small percentage, it is higher than 99.7% of the neighborhoods in America.
How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.
The neighbors in the Downtown Santa Monica neighborhood in Santa Monica are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 54.2% of the neighborhoods in America. With 38.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 88.2% 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 Downtown Santa Monica neighborhood, 66.0% of the working population is employed in executive, management, and professional 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 21.5% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (11.9%).
Languages
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 Downtown Santa Monica neighborhood is English, spoken by 74.2% of households. Other important languages spoken here include Russian, Spanish, Japanese and African languages.
Ethnicity / Ancestry
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 Downtown Santa Monica neighborhood in Santa Monica, CA, residents most commonly identify their ethnicity or ancestry as Russian (12.1%). There are also a number of people of German ancestry (9.1%), and residents who report Irish roots (8.1%), and some of the residents are also of Asian ancestry (6.8%), along with some Italian ancestry residents (6.3%), among others. In addition, 30.1% 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 Downtown Santa Monica neighborhood spend under 15 minutes commuting one-way to work (36.5% of working residents), one of the shortest commutes across America.
Here most residents (47.0%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (11.1%) and 11.0% 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.
