Silver Lake is a residential and commercial neighborhood in the central region of Los Angeles, California. Originally named Ivanhoe in the 1900s by a resident from Scotland, it was built around what was then a city reservoir which gives the district its name. The “Silver” in Silver Lake is not because of the water’s color but named for a local politician who helped create the reservoir. The area is known for its restaurants and hipster hangouts, and many notable people have made their homes there. The neighborhood has several public and private schools. The average population in Silver Lake is 32,890. The median home value in Silver Lake is $969,400. Echo Park is a densely populated neighborhood of 43,000+ residents in Central Los Angeles. It contains one high school and eight other schools and has been home to many notable people. The neighborhood is centered on the lake of the same name. Echo park’s average population is estimated to be 43,832. The average home value in Echo Park is $808,400.