Picfair Village's boundaries are Pico Boulevard on the north, Hauser Boulevard on the east, Venice Boulevard on the south, and Fairfax Avenue on the west. Wilshire Vista lies to the north, as does the Miracle Mile. Little Ethiopia lies to the northwest and Faircrest Heights is to the west.

Picfair Village takes its name from the Picfair movie theatre that stood at the corner of Pico and Fairfax until the early 1980s. Initially hailed as "the New Wilshire...[and] a delightful place for a home," what is now Picfair Village was part of the Santa Monica Land and Water Co.'s 1922 development called Pico Boulevard Heights. They offered "choice lots on Genesee Street" starting at $1,250.

The area was once home to crime fiction author Walter Mosley (one of his characters lived on Stanley). The neighborhood has been active since 1998 and has a Picfair Village Neighborhood Association. The main street of the "Village" is Pico Boulevard between Fairfax and Hauser, and is dotted with cafes, restaurants and boutiques.

The housing stock is predominantly Spanish Colonial and Art Deco one and two-family homes (the neighborhood is zoned R-1 and R-2), with some multi-unit dwellings (mostly north of Saturn Street). The latter tend to be Mid-Century architecture.

The area south of Pico and north of Saturn Street has a mix of houses and two- and four-plexes. South of Pickford are mostly single family residential homes. Homes on the north/south streets tend to be full-size lots (5,000 - 6000 sq. ft.), while homes on the east/west streets tend to be bungalow (smaller) sized lots.