Venice is a residential, commercial and recreational beachfront neighborhood on the Westside of the city of Los Angeles. Venice was founded in 1905 as a seaside resort town. It was an independent city until 1926, when it merged with Los Angeles. Today, Venice is known for its canals, beaches, and the circus-like Ocean Front Walk, a two-and-a-half-mile pedestrian-only promenade that features performers, mystics, artists and vendors.
Venice is bounded on the northwest by the Santa Monica city line. The northern apex of the Venice neighborhood is at Walgrove Avenue and Rose Avenue abutting the Santa Monica Airport. On the east the boundary runs north-south on Walgrove Avenue to the neighborhood’s eastern apex at Zanja Street, thus including the Penmar Golf Course but excluding Venice High School. The boundary runs on Lincoln Boulevard to Admiralty Way, excluding all of Marina del Rey, south to Ballona Creek.
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The median yearly household income in 2008 dollars was $67,647, a high figure for Los Angeles. The percentage of households earning $125,000 was considered high for the city. The average household size of 1.9 people was low for both the city and the county. Renters occupied 68.8% of the housing stock and house- or apartment owners held 31.2%. Property values have been increasing lately due to the presence of technology companies such as Google Inc. (which in 2011 began leasing 100,000 square feet of space in Venice) and Snapchat (which leases property on Market Street and Abbot Kinney).
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