Royal Oak median real estate price is $3,155,442, which is more expensive than 97.4% of the neighborhoods in California and 99.6% of the neighborhoods in the U.S.
The average rental price in Royal Oak is currently $5,053, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 89.9% of the neighborhoods in California.
Royal Oak is a suburban neighborhood (based on population density) located in Los Angeles, California.
Royal Oak real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes. Most of the residential real estate is owner occupied. Many of the residences in the Royal Oak neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
In Royal Oak, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Royal Oak is very tight compared to the demand for property here.
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.
Real Estate
Real estate in the Royal Oak neighborhood is almost exclusively owner-occupied. NeighborhoodScout's analysis reveals that this neighborhood has a higher rate of owner-occupied housing than is found in 96.1% of U.S. neighborhoods. If you are seeking to rent, this neighborhood may not have many options, but high rates of ownership often indicate stability in a neighborhood. This neighborhood has the distinction of having one of the lowest real estate vacancy rates of any neighborhood in America. With just 0.0% of the real estate vacant, this indicates an exceptionally strong demand for real estate in the Royal Oak neighborhood, and/or an issue with creating enough supply for the demand. This could have the effect of increasing real estate prices, increasing supply to meet demand, or both.
In addition, most neighborhoods have a mixture of ages of homes in them, from new to old, but this neighborhood stands out due to its concentration of residential real estate built in one time frame: from 1940 through 1969, generally considered older, well-established homes. This was a busy time in America for home construction. After the end of World War II, as GIs came home, bought newly built homes on the edges of cities with the help of the GI Bill, and began their families. This housing era generally coincides with the 'Baby Boom' generation (1945 - 1964), and many baby boomers grew up in homes built in this era. But what is so interesting about the Royal Oak neighborhood, is that an incredible 80.7% of the homes here were built in this era. So when you walk its streets or drive through, this neighborhood has a look and feel that harkens to that era in American life, a very important slice of Americana.
Furthermore, the Royal Oak neighborhood has earned the amazing distinction of having one of the highest rates of detached, single-family homes of any neighborhood in the U.S. With 98.9% of the residential real estate here made up of free-standing single-family homes, there is a greater proportion of single-family homes here than in 97.5% of all neighborhoods in America.
Also of note, one way that the Royal Oak neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 97.4% of the neighborhoods in America. When you walk or drive around this neighborhood, you'll instantly notice the size of the homes here which definitely makes a strong visual statement.
People
If you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 0.5% of America's neighborhoods are wealthier than the Royal Oak neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe. As one would expect in a considerably wealthy neighborhood such as this, Royal Oak also has one of the lowest ratings of child poverty in the nation.
In addition, according to NeighborhoodScout's exclusive analysis, Royal Oak is among the best neighborhoods for families in California. In fact, this neighborhood is more family-friendly than 99.4% of neighborhoods in the entire state of California. Its combination of top public schools, low crime rates, and owner-occupied single family homes gives this area the look and feel of a "Leave It to Beaver" episode. Many other families also live here, making it easy to socialize and develop a strong sense of community. In addition, the high number of college-educated parents influences the academic success of the local schools. Overall, you will find all of the amenities a family needs to thrive in the Royal Oak neighborhood. In addition to being an excellent choice for families with school-aged children, this neighborhood is also a very good choice for urban sophisticates, highly educated executives and active retirees.
Also, some neighborhoods have residents that are more educated than others. But in this neighborhood there is a dramatic difference. NeighborhoodScout's exclusive analysis reveals that 42.2% of the adults here have earned a Masters degree, medical degree, Ph.D. or law degree. This is a higher rate of people with a graduate degree than is found in 97.7% of U.S. neighborhoods, where the average American neighborhood has 13.4% of its adults with a graduate degree. If you are highly educated, you may have much in common with many of your neighbors here.
Finally, astoundingly, NeighborhoodScout's research reveals that this single neighborhood has a higher concentration of married couples living here than 96.9% of all U.S. neighborhoods. Whether they have school-aged children or not, married couples are the rule in the Royal Oak neighborhood. If you are a married couple, you may find many people here with a similar lifestyle, and perhaps common interests. But if you are single, you might not find many other singles here.
Occupations
The Royal Oak neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 97.0% of the neighborhoods in America. In fact, 73.3% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.
Diversity
Did you know that the Royal Oak neighborhood has more Iranian and Russian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 18.1% of this neighborhood's residents have Iranian ancestry and 14.4% have Russian ancestry.
Royal Oak is also pretty special linguistically. Significantly, 9.7% of its residents five years old and above primarily speak Persian at home. While this may seem like a small percentage, it is higher than 99.9% 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 Royal Oak neighborhood in Los Angeles 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 99.5% of the neighborhoods in America. In addition, 0.0% 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 100.0% of America'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 Royal Oak neighborhood, 73.3% 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 17.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (7.0%), and 2.4% in manufacturing and laborer occupations.
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 Royal Oak neighborhood is English, spoken by 77.9% of households. Other important languages spoken here include Persian and Chinese.
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 Royal Oak neighborhood in Los Angeles, CA, residents most commonly identify their ethnicity or ancestry as Irania (18.1%). There are also a number of people of Russian ancestry (14.4%), and residents who report English roots (10.9%), and some of the residents are also of Asian ancestry (8.3%), along with some German ancestry residents (8.1%), among others. In addition, 22.0% 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 Royal Oak neighborhood spend between 30 and 45 minutes commuting one-way to work (36.1% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (70.7%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (8.1%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
