With inflation on the rise, amidst other market trends, the time to invest in high-value real estate is now.
But with so many markets to choose from, finding the assets that will stabilize your portfolio can be challenging.
We’ve thrived in Los Angeles real estate for over four decades. Over our forty years in this highly competitive market, we’ve seen everything there is to see in real estate.
That’s why we’re so excited about the potential of Larchmont Village real estate in the Westside region of Los Angeles.
Now is the time to invest in this lucrative real estate market. Let’s explore why.
Why Are People Moving to Larchmont Village?
Here are a few reasons why people are flocking to Larchmont Village:
- It’s in a great location.
- It has a vibrant cultural scene.
- It’s a great place to raise a family.
Larchmont Village is continuing to grow. It has one of the highest year-over-year population increases in Los Angeles.
Where is Larchmont Village Located in Los Angeles?
Larchmont Village is centrally located in Los Angeles.
One of the easternmost neighborhoods orbiting just outside Los Angeles’ highly sought-after Westside region, Larchmont Village is a hidden gem tucked away in a prime location.
It’s a relatively secluded, small haven of a neighborhood, drawing in young professionals and young families within its borders.
Starting just west of Western Ave, a main arterial road, Larchmont is a micro-neighborhood within the region—it’s only a half-square-mile. Its relatively small size makes it a serene enclave amongst the vibrant features of bustling central L.A.
Its northern border is Melrose Ave, extending east to Wilton Place; its westernmost border is Arden Blvd. Closing Larchmont Village off, its southern border is Beverly Blvd.
Larchmont Village’s Centrality Makes It An Ideal Location
Larchmont Village has the small, secluded feel of a suburban neighborhood within its borders. Residents can enjoy a small-town vibe while living close to everything the big city offers.
It’s surrounded by some of Los Angeles’ most alluring locales. The Sunset Strip and West Hollywood to the north, and downtown L.A. is a short drive to its east.
What Is There To Do In Larchmont Village?
Despite its small size, there’s plenty to do in Larchmont Village.
For one, it has the world-famous Paramount Pictures Studio located on its northern border on Melrose. Larchmont Village has been the site for countless motion picture shoots, even to this day.
Residents can take tours of the Paramount studios, and often so, movies filmed right in their home neighborhood.
N Larchmont Blvd is the main drag in small Larchmont Village. This little neighborhood, packed with chic coffee shops and fine-dining restaurants, punches above its weight class given its size when it comes to cultural amenities.
Residents have an idyllic green space in Robert Burns park where they can enjoy L.A.’s clear blue skies and golden sunshine in a secluded area.
Larchmont Village Has A Little Bit Of Everything
People are drawn to this niche neighborhood because, despite its small size, Larchmont Village has loads to offer its residents. Between the restaurants, the parks, and L.A. landmarks, this neighborhood distills what people want out of the Los Angeles experience in a quaint, small-town locale.
Why Are Families Drawn To Larchmont Village?
Larchmont Village is particularly alluring to new families.
For one, its small size and relative seclusion have the small-town feel that lets families raise their children with a stronger sense of community. As a micro-neighborhood, families looking for their forever home can feel connected to their small neighborhood in a big way.
Crucially, Larchmont Village has five schools within its borders:
- Van Ness Avenue Elementary School on Clinton Street
- Frances Blend Elementary School on Clinton Street
- Christ the King School on North Van Ness Street
- Page Academy Private School on N Larchmont
- Larchmont Preschool
Larchmont Village Is Ideal For New Families
The schools in Larchmont Village are right around the corner in this small, secluded neighborhood. It’s a family-friendly neighborhood where parents can feel safe and confident about their children’s future.
What Are The Population Demographics of Larchmont Village?
To better understand the market potential of Larchmont Village, it’s essential to familiarize yourself with the people calling it home. There’s a reason more people are moving to this little neighborhood.
The appealing features of Larchmont Village are reflected in its population demographics, which give investors better insight into the future viability of its continued growth.
What Is the Population of Larchmont Village?
Current estimates put the neighborhood population of Larchmont Village at about 36,000. The neighborhood is evenly split between male and female residents.
Larchmont is a young neighborhood. The median age is about 32 years old. Young professionals entering the age where they begin to have families are moving to Larchmont Village. Most people who moved to Larchmont Village in the past year have been in that younger age bracket.
What Are The Employment Statistics For Larchmont Village?
The majority of Larchmont Village residents, 70%, are white-collar workers, most of whom work in the private sector. 8.4% of workers in Larchmont Village are self-employed entrepreneurs. Roughly 12% work for the government.
The remaining workforce is made up of blue-collar workers, about 30%.
What Are The Income Statistics For Larchmont Village?
Larchmont Village’s median household income is about 50,000 dollars.
The average household income is higher: about 63,000 dollars.
Larchmont Village is a squarely middle-class neighborhood, with increasing levels of capital entering the area every year. The median household income increased 10% compared to the last year and the average increased by almost 5%.
Considering that the most popular age brackets are people in the late 20s and early 30s, there is high potential for these young residents to bring in more capital as the years go by and their careers progress.
Larchmont Village has strong, middle-class roots that are increasingly becoming a foundational component of the neighborhood.
Between the high density of schools, the rising income levels, and the relatively young age bracket moving in, Larchmont Village is poised to become a stable, highly sought-after neighborhood for young, upwardly mobile families.
These trends bring Larchmont Village to the cusp of a volatile real estate market.
Real Estate Market Trends In Larchmont Village
An assessment of the most prominent market trends in Larchmont Village indicates that it is an opportune moment to invest in this up-and-coming neighborhood. Let’s explore some key indicators of its increasing potential.
What Are The Property Values in Larchmont Village?
The median price for a home in Larchmont village is around $1,000,000—residential property in the neighborhood goes for $627 per sq ft.
While the high prices may intimidate first-time homeowners, those who have the capital available to invest, it’s a buyer’s market for Larchmont Village real estate.
Despite the high listing price, homes have been selling below that for some time now. The median price for homes sold in Larchmont Village is $950,000, following a downward trend by a staggering -18.6% compared to last year.
Home prices appear to go down in the area from their staggering high during and just after the pandemic. Yet with more people moving into the neighborhood, demand is still high.
It’s A Buyer’s Market For Larchmont Real Estate
With such a drastic decline in the price of homes sold, investors looking to buy Larchmont real estate have the advantage.
To get ahead of the growing population that could increase the selling price of homes, get in now–the earlier investors get into Larchmont Village homes, the better.
Keep up to date on market movements in Los Angeles with Christina’s news resources.
Housing Statistics of Larchmont Village
Current statistics indicate that there are 11,252 households in Larchmont Village. The majority of the households are primarily meant to serve families. Around 71% of homes here are family units—the remainder is non-family units.
Larchmont Village has a high occupancy rate. Of the 11,4269 units in the neighborhood, 11,252 are currently occupied. Of those occupied units, 56.4% are occupied by homeowners, and 43.6% are rented.
Development In Larchmont Village
Development is on the rise. The total number of households in the neighborhood increased by an impressive 6.2% in the last year, and the year-over-year growth of housing units in Larchmont Village has risen significantly in the past decade.
From 2010 to 2020, Larchmont Village saw a 62% increase in housing units built compared to the prior decade.
Demand Is High For Larchmont Real Estate
With a high occupancy rate and forthcoming development, demand for Larchmont Village real estate can be safely projected to rise in the coming years.
Almost half of the market consists of rental properties, indicating that rental properties perform well in this small neighborhood. Rental properties are a key income generator for real estate investors; with more development expected in the area, investors have the opportunity to get in early on this rapidly nascent market.
Current Listings in Larchmont & Average DOM
There are currently 19 homes available for sale in Larchmont Village.
In the rental market, there are 26 listings.
Larchmont Village homes sell after 29 days on the market. Last year, homes were on the market for about 38 days. Compared to last year, homes are going quicker than they usually do.
These are just a few trends that provide investors with a clearer picture of Larchmont Village’s potential. If you’re interested in learning more about the market so you can see these trends in action for yourself, check out our informative real estate resources.
What’s The Future of Larchmont Village Real Estate?
The growing population of young professionals and increase in housing, in addition to its prime location in the city, indicates that Larchmont Village will soon be an even more highly valuable real estate market than it is now.
Buying highly valuable real estate to diversify your portfolio can help you weather difficult economic conditions. Larchmont Village real estate has the potential for significant growth, giving your portfolio a stable financial asset and an explosive one.
Invest in Larchmont Village With The Best
We have the experience, the skill set, and the network to navigate Los Angeles’ most lucrative micro-neighborhoods.
Our strategy has hinged on the high-growth potential of L.A.’s most obscure and niche markets for the past forty years.
If you’re interested in breaking into this exclusive, highly valuable market before it takes off, get started with Christina today.