Welcome to Downey, California
A city that is as vibrant and diverse as it is welcoming. With its unique blend of cultural richness, economic dynamism, and friendly community spirit, Downey has something for everyone. Let’s take a closer look at key demographic, economic, and social characteristics that make this city a prime destination for potential residents or investors.
Average Salary in Downey
Its average salary is a central indicator of Downey’s robust economy. The earnings compete favorably with many other locations nationwide, with a figure standing at $60,000. This competitive wage, combined with a wide range of job opportunities in sectors as diverse as Healthcare, education, manufacturing, retail, hospitality makes Downey an ideal location for professionals from various walks of life.
Median Home Value in Downey
The real estate landscape in Downey is as varied as it is promising. The median home value is $580,000, offering everything from cosy starter homes to luxurious residences. An impressive homeownership rate of 43.20% underlines Downey as a prime spot for long-term investment and stability.
For those who prefer the flexibility of renting, they’ll be in good company. 56.80% of the local populace choose to rent, drawn by a versatile rental market that offers options for everyone from recent graduates to retirees.
Credit Ratings and Loan Opportunities in Downey
The financial health of a city’s residents can be crucial in numerous aspects, including the capacity to secure loans. In California, the average credit score sits at 721. This rating is a key factor for financial institutions when offering loans, with higher scores often leading to more favorable loan conditions.
However, a low credit score is not a roadblock in Downey. Numerous lenders in the city are specialists in offering guidance and loan solutions to individuals across the credit score spectrum, ensuring everyone has the opportunity to realize their financial goals.
Demographics and Density in Downey
Downey has a population of around 111,645 inhabitants. These residents are comfortably spread across 12.4 sq mi (or 32.1 km2), ensuring a comfortable balance of urban life without the pressures of overpopulation. The city’s population density stands at 9,222 individuals per square mile, offering a sense of community while still allowing for personal space.
Economic Landscape in Downey
Downey enjoys a thriving economy with Healthcare, education, manufacturing, retail, hospitality being the major contributors. The proximity of the nearest airport (Long Beach Airport (LGB)), amplifies the city’s attractiveness for businesses seeking to expand or set up shop, offering excellent connectivity with both national and international markets. The city’s average credit score of 721 reflects a financially responsible and economically active populace.
Educational Opportunities in Downey
Downey holds education in high esteem. The city boasts top-ranking schools, such as Downey Unified School District, Downey Adult School, Warren High School, Downey High School, Downey Christian School, providing excellent educational opportunities from the foundational levels. For higher education, prestigious institutions like Rio Hondo College, Cerritos College and National University of Health Sciences, produce a well-educated, competent workforce contributing to Downey’s vibrant economy and societal fabric.
City’s Alias: Downey
Affectionately known as ‘The Birthplace of the Apollo Space Program or D-Town‘, Downey, positioned at 33.94°N 118.13°W, is celebrated for its energetic culture, committed efforts to preserve its rich history, and the superior lifestyle it provides its residents. Whether you’re a potential resident, investor, or visitor, Downey promises a rewarding and enriching experience.
Recreation and Lifestyle in Downey
Experience the exciting pace of life in Downey, where many recreational activities await. Whether you’re an art enthusiast, a sports fanatic, or a nature lover, Downey caters to all. Popular attractions include Apollo Park, Rio San Gabriel Park and Columbia Memorial Space Center, providing a rich mixture of educational and entertainment experiences.
The city’s commitment to promoting a balanced lifestyle is further showcased by its array of parks and open spaces, ideal for relaxation or active pursuits. Not to forget Downey’s vibrant events calendar, filled with cultural festivals, sporting events, and community gatherings that highlight the city’s spirit of camaraderie.