Silver Lake South median real estate price is $1,538,157, which is more expensive than 83.4% of the neighborhoods in California and 96.6% of the neighborhoods in the U.S.
The average rental price in Silver Lake South is currently $2,880, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 62.8% of California neighborhoods.
Silver Lake South is a densely urban neighborhood (based on population density) located in Los Angeles, California.
Silver Lake South real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings and apartment complexes/high-rise apartments. Most of the residential real estate is renter occupied. Many of the residences in the Silver Lake South 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 1940 and 1969.
Home and apartment vacancy rates are 7.4% in Silver Lake South. NeighborhoodScout analysis shows that this rate is lower than 51.5% 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 Silver Lake South neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
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 Silver Lake South neighborhood is among the top 5% of American neighborhoods in terms of walkability.
In addition, three-deckers, duplexes, old Victorian homes cut up into apartments. Independent stores on the corner selling pizza. These are some of the hallmarks of neighborhoods with lots of small 2, 3, and 4 unit apartment buildings. The Silver Lake South neighborhood really stands out in this regard, however, as it is dominated by such small apartment buildings more than nearly any other neighborhood in America. This is a stunning visual and lifestyle example of this type of neighborhood. In fact, 36.6% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 96.4% of America's neighborhoods.
Furthermore, renter-occupied real estate is dominant in the Silver Lake South neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 83.9%, which is higher than 95.0% 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, 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 61.5% of the residential real estate in the Silver Lake South neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 96.9% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
Significantly, 5.2% of its residents five years old and above primarily speak Tagalog, which is the first language of the Philippine region, at home. While this may seem like a small percentage, it is higher than 98.1% 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 Silver Lake South neighborhood has a greater percentage of residents born in another country (42.7%) than are found in 95.2% 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 Silver Lake South neighborhood in Los Angeles are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 42.8% of the neighborhoods in America. In addition, 5.9% 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 61.8% of America'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 Silver Lake South neighborhood, 57.8% 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 17.1% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (13.8%), and 11.3% 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 Silver Lake South neighborhood is Spanish, spoken by 45.8% of households. Other important languages spoken here include English and Tagalog (the first language of the Philippine region).
Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.
In the Silver Lake South neighborhood in Los Angeles, CA, residents most commonly identify their ethnicity or ancestry as Mexican (26.5%). There are also a number of people of Asian ancestry (13.1%), and residents who report English roots (5.7%), and some of the residents are also of Irish ancestry (4.4%), along with some French ancestry residents (3.9%), among others. In addition, 42.7% 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 Silver Lake South neighborhood spend between 15 and 30 minutes commuting one-way to work (39.9% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (66.6%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (7.5%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.