Located just 13 miles south of downtown Los Angeles, the city of Downey is known by many as the birthplace of the Apollo space program and is home to a thriving local economy, having previously been included in the top 25 percent of the 100 best cities for business in California. The heart of Southern California offers residents the Los Angeles real estate "style" while also containing desired family neighborhoods with quality housing and schools.
The 2010 Census noted the city had a total population of 111,772 residents and grew 4.1 percent between 2000 and 2010 while the state's population increased 10 percent. The data listed the median age of residents around 33 and 26.8 percent were under the age of 18 while just 10.4 percent of the population was older than 65.
Out of 35,601 units, 33,936 were occupied in 2010 and 78.1 percent were family households. Between 2006 and 2010, the median value of owner-occupied housing units was $522,800, just over the median value of $458,500 in California.
Homes for sale in Los Angeles could continue to see multiple offers, as mortgage rates have remained near all-time lows despite rising in two consecutive weeks.