Located just 10 miles east of busy Los Angeles is the city of Monterey Park. Once home to members of the Shoshone Native American tribe, Monterey Park is now home to the Garvey Ranch Observatory and has become a popular place for families to reside.
The 2010 U.S. Census of Population and Housing reported there were 20,269 residents of Monterey Park, up 0.4 percent from the 2000 Census, while California's overall population increased 10 percent. Data shows the median age was around 43 years of age and 18.1 percent of people were under the age of 18 while 19.3 percent were 65 years of age or older.
There were 20,850 housing units in the city at an average density of 2,692.2 per square mile. Around 55 percent of homes were owner-occupied and renters occupied 44.6 percent. The median value of owner-occupied housing units between 2006 and 2010 was $495,600, matching the price of many homes for sale in Los Angeles County and just above the state average of $458,500.
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.