Neighborhood Watch: Studio City

Los Angeles is known for being the entertainment capital of the world - and nowhere offers more to do than Studio City. Located close to the heart of downtown, Studio City is ideal for families who want the comfort of the suburbs without sacrificing the action of urban living.

Known for its many film, TV and music production companies, Studio City is a popular choice with those working in the entertainment industry - as well as those just looking to live close to the stars.

So why is Studio City the ideal place to purchase real estate in Los Angeles? Here are three good reasons.

Good for families
Studio City offers a living experience appealing to people in all stages of life. Whether you've already got kids or you're planning on starting a family soon, Studio City will grow with you. Known for its activities and attractions, Studio City is ideal for keeping yourself - and your little ones - busy.

Studio City has plenty of parks, as well as movie theatres, trendy diners and fun shopping. It also hosts concerts, art shows and other events that are fun for the whole family.

According to The Los Angeles Times, married couples with and without kids comprise about 44 percent of Studio City's population, which means there's also considerable room for singles to enjoy a homeowners' lifestyle in this bustling town.

Affordable living
According to City-Data.com, the average value of a detached single-family home in Studio City is around $752,000. Homes in this neighborhood are affordable by Los Angeles standards, and because the city is so venerable, homes hold their value better than houses in a less tested neighborhood might.

A townhouse is a bit more affordable, averaging $248,000 in 2009, according to the source.

SoCal lifestyle
Thanks to its centralized location, Studio City is perfect for homeowners who want to live a truly Los Angeles lifestyle. Some of Los Angeles' most famous landmarks are located nearby, including the Hollywood Walk of Fame, Universal Studios and the CBS Studio Center.

And it's not just the starstruck who will enjoy Studio City living - there's a lot to do outdoors, as well. The Briar Summit Open Space Reserve, located off Mulholland Drive, is a great place to explore hiking trails and lots of nature.