Loft District median real estate price is $686,301, which is less expensive than 66.1% of California neighborhoods and 22.0% of all U.S. neighborhoods.
The average rental price in Loft District is currently $4,895, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 88.3% of the neighborhoods in California.
Loft District is a densely urban neighborhood (based on population density) located in Oakland, California. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).
Loft District 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 Loft District neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
Vacant apartments or homes are a major fact of life in Loft District. The current real estate vacancy rate here is 17.1%. This is higher than the rate of vacancies in 82.2% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually 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 Oakland, the Loft District neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Real Estate
Loft District 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, Loft District 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 Loft District 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 93.6% 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.
Furthermore, the real estate in the Loft District 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, 87.8% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 97.8% of American neighborhoods.
People
Of note is NeighborhoodScout's research finding that the Loft District neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Loft District community truly stands out from the rest in this regard.
In addition, do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. NeighborhoodScout's research revealed that a full 75.2% of the adults living in the Loft District neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 96.2% of U.S. neighborhoods. In this way, this neighborhood truly stands out.
Modes of Transportation
In the Loft District neighborhood, 2.8% of people ride a ferry to work each day. This is a very high percentage compared to most places. In fact, NeighborhoodScout's analysis reveals that this is a higher level of ferry ridership than in 99.6% of the neighborhoods in America.
Also, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 27.2% of the Loft District neighborhood's commuters ride the train to and from work each day, which is more than we found in 97.9% of America's neighborhoods.
Finally, if your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 4.0% of residents in the Loft District neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 97.3% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.
Occupations
The Loft District neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 95.1% of the neighborhoods in America. In fact, 69.4% 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.
Car Ownership
Most American households own a car or other vehicle. Many own two cars or perhaps three. In the United States, it is useful to have an automobile not only for commuting, but also for shopping and getting to other services one needs. But NeighborhoodScout's analysis revealed that households in the Loft District neighborhood have a highly unusual car ownership. 19.2% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 95.0% of U.S. neighborhoods.
Diversity
Did you know that the Loft District neighborhood has more Iranian and Arab ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.5% of this neighborhood's residents have Iranian ancestry and 3.2% have Arab ancestry.
Loft District is also pretty special linguistically. Significantly, 9.4% of its residents five years old and above primarily speak Chinese at home. While this may seem like a small percentage, it is higher than 97.6% 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 Loft District neighborhood in Oakland 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 93.5% 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 Loft District neighborhood, 69.4% 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 17.5% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (7.0%), and 6.3% in government jobs, whether they are in local, state, or federal positions.
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 Loft District neighborhood is English, spoken by 84.2% of households. Other important languages spoken here include Chinese and Spanish.
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 Loft District neighborhood in Oakland, CA, residents most commonly identify their ethnicity or ancestry as Asian (21.9%). There are also a number of people of German ancestry (14.7%), and residents who report Irish roots (10.8%), and some of the residents are also of English ancestry (4.8%), along with some Polish ancestry residents (4.0%), among others. In addition, 15.1% 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 Loft District neighborhood spend between 15 and 30 minutes commuting one-way to work (29.9% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (27.2%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (26.4%) and 8.1% of residents also hop out the door and walk to work for their daily commute. This neighborhood is distinguished by the high number of residents who take the train to work each day, which can be a very good way to get to work at a lower cost and with less pollution.
