Crime has been an issue for Los Angeles and other parts of LA County just as it is with any large city. In fact, for ten years straight now, Los Angeles crime rates have dropped, including violent crimes and burglary. Crime figures show that overall crime in Los Angeles fell almost 1.5 percent. Noting a decline for the tenth year in a row, Los Angeles now has the lowest crime rate in the US for cities with a population over 2 million people.
This is a drastic change over the crime rates in certain parts of the city just a decade ago. The biggest news is that this drop in the crime rate doesn’t follow predictions. In the wake of the real estate drop in 2009 as well as the economic downturn that cost numerous citizens their jobs, predictors were certain crime would go up. However, Los Angeles bucked the stats.
The Theory Behind the Change
There are several theories as to why the crime rate dropped. Most of the predictions came out of past information. For example, in the past economic downturn of the early 1990s, the crime rate soared as the crack cocaine epidemic was a full epidemic and the city had a very high population of young males. Of course, the predictions were that the same would happen again.
However, most experts agree that several reasons for the dropped crime rate now has to do with joint community work by outside agencies, the LAPD, community outreach programs, and religious groups.
The biggest decreases in crime rate can be seen in Los Angeles, Bratton, Watts, Compton, and Vernon. The crime rate has increased in some areas including Hollywood, Wilshire, Topanga, and West LA.
What This Means for Home Values
For any homeowners who live within the areas that have seen a drop in crime, this is very good news for a few different reasons. For one, they can feel safer in their homes. Another good thing is that their home value is stable. More people will choose to move to safer areas, and the higher demand on housing will push home values forward.
In fact, since LA has been named the safest large city in America, this will lead to more and more people choosing to relocate there. The demand on housing will continue to go up. Homeowners who are interested in selling will be able to get a higher price for their property. Homeowners who have been underwater with their mortgages should be able to see the light of day.
With the crime rate steadily dropping in most areas of Los Angeles, the real estate market can continue reaping the rewards. Home values go up and more people begin looking for properties to purchase. This is very good news for homeowners, specifically for those who live in the lower crime areas, as well. People should expect this decrease in crime rate to continue in the future too.