The unemployment rate in Lomita, California, fluctuated between 4.0% in April 2018 and 20.3% in April 2020. It was 4.9% in March 2022 and is forecasted to continue fluctuating in the future. To compare the unemployment rate in Lomita with other cities in California, you can use our Unemployment Compare tool. You can find out the unemployment rate in Lomita by entering your address into the search box and selecting "City: Lomita, CA."
Despite the high number of unemployed residents, the area boasts a diverse population. While 56.7% of the population is White (non-Hispanic), 31.3% of the population is Asian, and 7.1% is Hispanic or Two or More Races. Unemployment rates in Lomita are lower than the national average but still well below that. The city's population is made up of a large number of military personnel who served during the Vietnam War.
The unemployment rate in Lomita is low compared to the statewide unemployment rate, which jumped up by more than six percentage points from December to November. The county's unemployment rate dropped by eight percent in January. The decrease comes after nearly 1,000 job losses in November, and the county's unemployment rate was 8.5% in November. The statewide unemployment rate was 5.5%, and the national average was 4.4% in January.
The median property value in Lomita, CA, is $604,300, which is 2.51 times higher than the national average. Lomita has a homeownership rate of 47.3%, which is slightly higher than the U.S. average. Lomita, CA, residents have an average commute time of 26 minutes. They have two cars per household. The unemployment rate in Lomita, CA, is slightly higher than the national average.
The median age of Lomita, CA residents was 40.1 in 2019. Its median population included foreign-born citizens, US citizens, and foreign-born citizens. The majority of residents were born in Mexico, China, and the Philippines. The city had a median population of 20,046 in 2000. With so many people looking for jobs, the unemployment rate in Lomita is high. You can use ERI's cost of living calculator to determine the average cost of living in Lomita, CA. While it isn't designed for professional use, it can still help you with your decision-making.
The homeownership rate in Lomita is 57.2%. The percentage of renters is also higher than in other parts of the locality. Lomita is home to the most significant portion of renters in the greater region. Lomita also has one of the highest homeowner occupancy rates. The average age of Lomita's residents is 37.3. Lomita is a good place for first-time homebuyers, and those seeking to upgrade their existing home should consider purchasing a home in the neighborhood.
The average home value in Lomita is $916,678. This is the average price for middle-priced homes in the Lomita area. Lomita's unemployment rate is 6.1%, compared to 5.9% for the country and 6.7% for the state of California. Lomita's median household income is $71,228. Lomita has a low rate of poverty.
In Lomita, the median cost of ownership is $2,047. The median cost of ownership is the sum of mortgage costs, utility expenses, insurance, and miscellaneous costs. The cost of ownership in Lomita is the second-lowest in the state. Owner cost is calculated as a percentage of the total household income. The Owner Cost as a Percentage of HH Income in Lomita is 21.8%, which is much lower than the national average.
The median rent is $1,460. Lomita has the lowest median rent in the greater region. The highest median rent is $3,501 in Rolling Hills. Lomita's rent is only about 8% of the national average but is less than the state average. While rent is lower than the national average, it is still higher than average. A good reason to rent in Lomita is the proximity to the Metrorail.
In addition to home prices, Lomita's population is relatively young. The median age of residents is 16.3%. The median household income is $71,606. A good reason to buy a home in Lomita is because of the opportunity it presents for a secure financial future. Homeownership is higher in Lomita than it is in other parts of the county. The median income of the residents is also higher. The homeownership rate in Lomita is higher than the state average.
The homeownership rate in Lomita is calculated by dividing the estimated population of owner-occupied housing units by the estimated total population. The ACS 5-year estimates include data collected over 60 months. The data are dated at the end of the five years, not specific dates. However, a low homeownership rate does not necessarily mean a high homeownership rate. When calculating the homeownership rate in Lomita, be sure to use the latest data from census sources.
The median property value in Lomita, CA, is $604,300. This is nearly 2.5 times higher than the national average. Home values in Lomita were up 3.09% between 2018 and 2019. Despite the increase in home values, the percentage of homeowners remains low at 47.3%. In addition, only 21% of residents have a bachelor's degree or higher in terms of education. Nonetheless, Lomita is home to many people who earn well above the average.
The median household income for Lomita, CA, is $53,670. It is similar to those in nearby cities like Pasadena and Mar Vista. The percentage of four-year college graduates living in Lomita is higher than in neighboring cities like Santa Monica, Los Angeles, and Santa Monica. The median age for residents of these cities is also similar. The population of Lomita is predominantly between 35 and 49 years old. Most residents live alone, while fewer than 10% of the population is unemployed.
As of 2016, the median household income in Lomita was $58,320. This was lower than the median income of nearby ZIP codes. Moreover, most commuters got to work within 30 minutes, while a small percentage of employees traveled over 45 minutes. As for employment, the average salary in Lomita is $42,090. These are just a few figures that show the general situation. You can view more information about the median household income in Lomita by visiting the official city website and asking local residents.
In 2019 the median age for residents of Lomita, CA, was 40.1. This was slightly higher than the previous year when the percentage of US citizens was 91.3%. However, this percentage is still significantly lower than the national average of 93.4%. Lomita is home to much military personnel who served in Vietnam. If you're wondering where to live in Lomita, CA, you should start your search here. This is the only way to determine the median income for the area.
The median household income in Lomita was $51,666 in 2017