Living in
Downtown Los Angeles offers direct proximity to the city’s many amenities, including entertainment, shopping, dining, and nightlife. The area is also home to a wide variety of housing options, so whether you are looking for a low-maintenance condo or a large family home with a spacious yard, Los Angeles’ bustling real estate market will suit your needs.
On top of all that, Downtown Los Angeles provides easy access to some of the city’s best attractions. There are plenty of things to see and do, from museums and galleries to music venues and parks. All that, coupled with its thriving arts scene, makes buying a home in Downtown Los Angeles an easy choice.
Why Should You Buy a House in Los Angeles?
LA has vast outdoor recreation offerings you will not find anywhere else
Downtown Los Angeles provides an unbeatable combination of urban living and outdoor recreation. The city boasts various areas with breathtaking views of California’s beaches, mountains, hills, and canyons. The weather is perfect for enjoying the outdoors year-round.
Several beachfront parks near Downtown LA offer residents a wide range of activities, such as biking, running, swimming, and surfing. Additionally, Downtown LA is home to numerous nature trails and parks, providing hiking, birdwatching, and camping opportunities.
No matter where you buy a home in Downtown LA, you can take full advantage of the area's unique outdoor opportunities.
Downtown LA is a foodie’s paradise
With endless options for traditional Mexican dishes, innovative fusion cuisine, and plenty of farmers’ markets, pop-up shops, and local eateries, you can expect to find some of the world’s most flavorful cuisine in Downtown LA. Stopping into any one of its eateries will transport you to a culinary oasis with fresh, locally-sourced ingredients and creative combinations. Plus, the area grants access to some of the most unique dining experiences in the country, thanks to LA's diverse culinary landscape. From food trucks to upscale restaurants, there is something for everyone in Downtown LA.
You should not miss the Grand Central Market in Downtown LA. This market has been around since 1917 and offers over 100 vendors serving everything from tacos and tamales to craft beer and artisanal cheeses. When living in Downtown Los Angeles, your home will be close to the city’s array of underground supper clubs. These secret restaurants are scattered around the city and offer adventurous foodies a chance to explore the city's hidden culinary gems. From multi-course tasting menus to experimental dishes, these supper clubs will take your dining experience to the next level.
LA has highly rated schools
Los Angeles boasts some of the country’s best schools, making it an ideal place to buy a home. The Los Angeles Unified School District (LAUSD) is one of the largest school districts in the nation and provides an array of educational programs for students.
Downtown LA schools offer various advanced placement classes and extracurricular activities, allowing students to prepare for college. These activities include sports teams, clubs, and other programs that enable students to explore their passions and develop critical social skills.
Top 3 Neighborhoods in Downtown Los Angeles
Bunker Hill
Located in the heart of the city, Bunker Hill offers direct access to some of the best attractions and entertainment. It is also close to LA's most iconic landmarks. Residents can easily enjoy the Walt Disney Concert Hall, The Broad Art Museum, and the Museum of Contemporary Art, just moments from their homes. For those looking to explore the city's vibrant nightlife, Bunker Hill is only a few blocks away from the bars, restaurants, and clubs of Grand Avenue.
The Bunker Hill neighborhood also boasts excellent schools. Furthermore, the area is known for its stunning architecture, such as the Aon Center and the US Bank Tower, which add a touch of glamour to the city's skyline. Thanks to its ideal location in the heart of Downtown LA, Bunker Hill is an excellent place for young professionals who want to take advantage of the city’s amenities.
The Financial District
The Financial District is home to some of the city's most iconic and luxurious buildings, making it a desirable location for any potential homeowner. It is also close to many incredible restaurants, shopping areas, and entertainment venues.
Young professionals looking to buy a home in Downtown LA will find the Financial District particularly attractive. The area features several tech companies and prestigious companies, making it the perfect place to commute to work.
The Arts District
The Arts District in Los Angeles is widely considered to be the city's best neighborhood, with home prices that are comparatively lower than other parts of the city. The district has plenty of amenities and entertainment, making it an attractive option for those looking to buy a home and live close to downtown. In addition, the neighborhood is well-known for its galleries, restaurants, and lively nightlife, as well as its abundant parks and open spaces.
Homebuyers can find just about any type of home they are looking for in The Art District, including renovated historic homes, modern townhomes, and newly constructed single-family homes. For young professionals, the district offers a short commute to major employers, such as the University of Southern California and the Los Angeles County Museum of Art.
What to Know About Buying a House in Downtown Los Angeles
Median house price in Downtown Los Angeles
LA currently has one of the nation's highest median home prices,
sitting around $1 million. However, Downtown LA has real estate offerings that provide affordable, luxurious living. Those looking at buying a home in Downtown Los Angeles can find excellent condos, houses, and multi-million dollar residences.
Property taxes in Downtown Los Angeles
Los Angeles property taxes are calculated based on the home’s assessed value and factors such as size, location, age, and condition. Property taxes in downtown Los Angeles are typically due annually on April 10 and can be paid online, in person at the local tax office, or by mail. In addition, you should consider that buying a home in Downtown Los Angeles may make you eligible for certain exemptions that can reduce your property tax bill.
To look up a property's tax rate, you must know its Tax Rate Area (TRA), which can be
found on the property’s tax bill. However, while the specific rate will vary based on the property's location, the general fund portion is 1%, with additional municipal taxes adding to approximately 0.25% in general.
Navigate the Los Angeles Real Estate Market with the Right Agent
When buying a home in Downtown Los Angeles, one of the most important decisions you’ll make will be choosing the real estate agent you work with. An experienced and knowledgeable agent, such as
Lorissa Singleton, can search for properties in your price range, negotiate with seller’s agents, and walk you through the closing process.
Contact Lorissa today to begin your journey to homeownership!
