San Fernando Valley
The Northern part of the Valley is heavily residential and has some of the newer suburban homes of the area. Places like Northridge tend to me very commercial and apartment centric (for the students) but go north to Porter Ranch and you'll find some very nice gated neighborhoods.
The Southern part of the Valley stretches along Ventura Boulevard. This is the cultural artery of the Valley and where you'll find all the best eating and drinking venues. The very nicest homes are also found in the hills just South of Ventura.
The Eastern Valley is the densest urban portion of the Valley, and contains a great deal of commerce. From Burbank to North Hollywood, you'll find some of Hollywood's largest studios and sound stages, not to mention a plethora of small post production firms, scattered amongst the 1950s suburbs.
The West is the newest part of the Valley and where you'll find the cleanest air and most of the remaining nature. The hills around Calabasas and Agoura contain excellent hiking trials, not to mention the homes to many celebrities who enjoy the brand new upscale homes being built there.
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* All data pertains to single-family homes