With Los Angeles home prices averaging over $700 per square foot and the median sold home price of almost $1 million as of August 2023, it’s important to get the most out of your home buying dollar. One way to maximize your investment is to buy in an up-and-coming neighborhood. According to Realtor.com, an up-and-coming neighborhood is one that isn’t the best-known or most-popular, but has potential for rapid growth.
Another word for up-and-coming neighborhood is “transitional.” That means the neighborhood is transitioning from more affordable, and possibly with fewer amenities, to a high-priced neighborhood with many amenities and desirable qualities.
Los Angeles has been compared to a small country, with over 400 neighborhoods. We’ve chosen a few that qualify as up-and-coming for you to consider.
Palms: A Small Corner of the Westside
Palms is adjacent to several better-known neighborhoods on the westside of Los Angeles. According to California.com, the average age of Palms residents is slightly over 30. That makes Palms an interesting choice for younger professionals. As Palms is near Culver City, you will find a lot of film industry professionals in the area.
Playa del Rey and Playa Vista
Also on the westside, and sometimes included as part of “Silicon Beach,” Playa del Rey and Playa Vista are close to the beach as well as LAX. These neighborhoods have very different characters, with Playa del Rey’s homes tending to be unique mid-Century models to contemporary coastal homes, and Playa Vista primarily including newer condominiums.
Beverlywood & Cheviot Hills
A famous writer, Ray Bradbury, lived in Cheviot (aka “Chevy”) Hills for years. In more recent years, celebrities like Jennifer Aniston and Sylvester Stallone have had homes in this small, peaceful, yet hip neighborhood that’s adjacent to both Beverly Hills and Beverlywood. Both neighborhoods have ample amenities and manage to blend a suburban feel, including parks and golf courses, with urban amenities like upscale restaurants and charming boutiques.
These are just a few of several dozen up-and-coming Los Angeles neighborhoods. You can locate other “hidden gems” and neighborhoods with potential by working with real estate professionals who are “in the know,” like California Platinum Realty.
Bungalow. “The 9 Best Neighborhoods to Live in Los Angeles.” url: https://bungalow.com/articles/best-neighborhoods-in-los-angeles-california
Kouyoumjian, Natasha. “The 9 Newest Up-and-Coming Los Angeles Neighborhoods,” California.com, 19 November 2022, url: https://www.california.com/the-newest-up-and-coming-los-angeles-neighborhoods/
Realtor.com “Overview: Los Angeles Home Prices,” url: https://www.realtor.com/realestateandhomes-search/Los-Angeles_CA/overview