Homes and Real Estate in Highland Park, CA – A Look at the Numbers
In Los Angeles real estate circles, everyone is talking about Highland Park. Like other Northeast Los Angeles neighborhoods like Silver Lake, Eagle Rock and Mt. Washington, Highland Park is in a state of gentrification as new shops and restaurants spring up on York Blvd. and homes are bought and restored. As a result, Highland Park homes are in demand and prices have been rising steadily. But gentrification is not the only reason. Highland Park is a wonderful area to call home.
Highland Park is a nice historic neighborhood located in Northeast Los Angeles. It is a mountainous neighborhood located in the hills of San Rafael along the Arroyo Seco. It is southwest of Eagle Rock and northeast of Cypress Park. People from many ethnic and socioeconomic groups call this neighborhood “home.” The weather is pristine with the highest average monthly temperature of 73 degrees in the hottest month of July and 57 degrees in the coldest month of December. Highland Park experiences light rain; January receives the highest amount with a total of 4.6 inches. According to the Walk Score, Highland Park is the most walkable neighborhood in Los Angeles with a score of 72. It is very accessible and most errands can be accomplished on foot. Has some public transportation and is bikeable with a Transit Score of 47 and a Bike Score of 53.
As of the 2000 US Census, there were 57,566 residents in the neighborhood’s 3.42 square miles. That’s an average of 16,385 people per square mile. Highland Park is one of the highest density areas in Los Angeles. Highland Park grew to 60,835 people in 2008. The ethnic breakdown was as follows: Latino 72.4%, White 11.3%, Asian 11.2%, Black 2.4%, and Other 2.6%. 57.8% of residents older than average were born abroad. 55.3% of them were born in Mexico and 12% were from El Salvador. In the male population, 52.2% were married, 41.2% had never been married, 4.9% had been divorced, and 1.6% were widowed. For women: 50.4% were married, 33.2% never married, 9.3% divorced, and 7.1% widowed. The never-married demographic was among the highest in the county. 14.3% of residents age 25 and older had a four-year degree. This was normal for Los Angeles. 45.1% of residents were born in a foreign city. This was a high number for Los Angeles. 4.9% of the people in the population were veterans; this was a low number for Los Angeles. The median age of the residents was 28, which is considered young compared to the other areas of Los Angeles.
The median household income in 2008 was $45,478, which is an average number for Los Angeles. The median household size was 3.3 people, 25% more than the national average. Renters occupied 60.9% of housing units, 105% more than the national average. Owners completed the other 39.1%, which is 58% below the national average.
Zillow reports Highland Park’s Home Value Index at $662,800, which is a 13.1% increase from last year and an expected 4.3% increase next year. The market temperature is very high and ideal for vendors. Median price per square foot is $582, which is higher than the Los Angeles median of $448. The median home price is $652,500, which is 123% higher than the national average. Median rent per month is $2,600, 22% higher than the national average. The current Market Health is 5.3/10, which is relative to other markets across the country. Highland Park will continue to grow and develop.
As Highland Park is in a stage of gentrification with rising home prices, home buyers and sellers are strongly encouraged to seek out an experienced Highland Park real estate agent who specializes in the area.
