Located in the hillier side of Los Angeles and the center of the San Fernando Valley's southern boundary is the city of Encino. The chamber of commerce reports the area is home to around 41,000 residents while the 2010 U.S. Census shows Los Angeles' population was upwards of 3,793,621. While the overall population of California increased 10 percent, data shows the city's total population went up 2.6 percent between 2000 and 2010.
Encino is home to many families as well as celebrities and the neighborhood has approximately 18,000 households. The median home price is just above that of Los Angeles, which has a median home price of $553,900 at $637,750. The average age of residents of Encino is 45, while 16 percent of the population is 65 years of age or older.
The local economy continues to provide current residents with a thriving community by providing jobs in healthcare, social services and other high-paying professions such as finance and accounting. Data notes there are around 3,800 local businesses employing approximately 27,128 residents with an annual payroll of nearly $1.5 trillion. Information shows that 53 percent of residents over the age of 16 are in the labor force.
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.