Is real estate in Monterey Park a good investment?
According to RealEstateScout.com, Monterey Park is a larger medium-sized city located in the state of California. With a population of 61,096 people and 14 constituent neighborhoods, Monterey Park is the 152nd largest community in California.
Housing costs in Monterey Park are among some of the highest in the nation, although real estate prices here don’t compare to real estate prices in the most expensive communities in California.
Monterey Park is neither predominantly blue-collar nor white-collar, instead having a mixed workforce of both blue-collar and white-collar jobs. Overall, Monterey Park is a city of sales and office workers, professionals, and service providers. There are especially a lot of people living in Monterey Park who work in office and administrative support (13.55%), sales jobs (11.10%), and management occupations (9.07%).
Also of interest is that Monterey Park has more people living here who work in computers and math than 95% of the places in the US.
In Monterey Park, however, the average commute to work is quite long. On average, people spend 31.77 minutes each day getting to work, which is significantly higher than the national average.
The overall education level of Monterey Park citizens is substantially higher than the typical US community, as 31.81% of adults in Monterey Park have at least a bachelor’s degree, and the average American community has 21.84%.
The per capita income in Monterey Park in 2018 was $29,897, which is middle income relative to California, and upper middle income relative to the rest of the US. This equates to an annual income of $119,588 for a family of four. However, Monterey Park contains both very wealthy and poor people as well.
Monterey Park is an extremely ethnically-diverse city. The people who call Monterey Park home describe themselves as belonging to a variety of racial and ethnic groups. The greatest number of Monterey Park residents report their race to be Asian, followed by White. Monterey Park also has a sizeable Hispanic population (people of Hispanic origin can be of any race). People of Hispanic or Latino origin account for 28.55% of the city’s residents. Important ancestries of people in Monterey Park include German, European, Irish, Italian, and English.
In addition, Monterey Park has a lot of people living here who were born outside of the US (53.65%).
The most common language spoken in Monterey Park is Chinese. Other important languages spoken here include English and Spanish.
