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Real Estate Prices & Overview

Algonquin East median real estate price is $339,618, which is more expensive than 80.1% of the neighborhoods in Kentucky and 46.5% of the neighborhoods in the U.S.

The average rental price in Algonquin East is currently $1,434, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 52.0% of Kentucky neighborhoods.

Algonquin East is a densely urban neighborhood (based on population density) located in Louisville, Kentucky.

Algonquin East real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Algonquin East neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

Algonquin East has a 15.2% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 78.4% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.

Notable & Unique Neighborhood Characteristics

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Louisville, the Algonquin East neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

An extraordinary 82.5% of the residents of the Algonquin East neighborhood are currently enrolled in college. This is such a large part of life in this neighborhood that the neighborhood changes a great deal with the change of semesters and is far quieter during the summer when many students are away.

In addition, the Algonquin East neighborhood stands out for having an average per capita income lower than 96.3% of the neighborhoods in the United States. Also of note, 82.3% of the children in this area live in poverty; an extraordinarily high percentage compared to other neighborhoods in the nation. In a nation where approximately one in four children grows up in poverty, this neighborhood stands out for the depth of the problem manifested here.

Also, one of the really interesting characteristics about the Algonquin East neighborhood is that, according to NeighborhoodScout's exclusive research, it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you'll notice that the excitement here fluctuates with the college seasons. Despite the excitement however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 4.4% of college-friendly places to live in the state of Kentucky.

Real Estate

96.0% of the real estate in the Algonquin East neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.

Modes of Transportation

In the Algonquin East neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 15.6% of residents here. This is a higher proportion of walking commuters than we found in 97.3% of American neighborhoods. Get ready to put on your walking shoes if you move here!

Occupations

There are more people living in the Algonquin East neighborhood employed as sales and service workers (60.7%) than almost any neighborhood in the country. From fast-food service workers to major sales accounts, sales and service workers make up the largest proportion of our national employment picture. But despite that size and importance nationally, this neighborhood still stands out as unique due to the dominance of people living here who work in such occupations.

Diversity

Significantly, 7.9% of its residents five years old and above primarily speak African languages at home. While this may seem like a small percentage, it is higher than 99.5% of the neighborhoods in America.

Migration / Stability

Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Algonquin East neighborhood. In the Algonquin East neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 98.7% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Algonquin East neighborhood in Louisville are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 96.3% of U.S. neighborhoods. With 82.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 99.5% of U.S. neighborhoods.

A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

In the Algonquin East neighborhood, 39.3% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 32.5% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (14.6%), and 13.5% in clerical, assistant, and tech support occupations.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Algonquin East neighborhood is English, spoken by 91.6% of households. Other important languages spoken here include African languages, Spanish and French.

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Algonquin East neighborhood in Louisville, KY, residents most commonly identify their ethnicity or ancestry as Irish (16.1%). There are also a number of people of German ancestry (14.9%), and residents who report English roots (9.1%), and some of the residents are also of Sub-Saharan African ancestry (3.9%), along with some Mexican ancestry residents (3.1%), among others.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Algonquin East neighborhood spend between 15 and 30 minutes commuting one-way to work (55.6% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (52.9%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (15.6%) and 7.2% of residents also carpool with coworkers, friends, or neighbors for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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