Lake Terrace / University of New Orleans median real estate price is $421,222, which is more expensive than 89.1% of the neighborhoods in Louisiana and 55.9% of the neighborhoods in the U.S.
The average rental price in Lake Terrace / University of New Orleans is currently $1,377, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 47.0% of Louisiana neighborhoods.
Lake Terrace / University of New Orleans is a suburban neighborhood (based on population density) located in New Orleans, Louisiana.
Lake Terrace / University of New Orleans real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Lake Terrace / University of New Orleans neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 2000 and the present.
Vacant apartments or homes are a major fact of life in Lake Terrace / University of New Orleans. The current real estate vacancy rate here is 30.4%. This is higher than the rate of vacancies in 95.2% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.
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 New Orleans, the Lake Terrace / University of New Orleans neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
In a nation where 1 out of every 4 children lives in poverty, the Lake Terrace / University of New Orleans neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.
In addition, a majority of the adults in the Lake Terrace / University of New Orleans neighborhood are wealthy and educated executives. They own stately homes that tend to maintain high real estate appreciation rates. Their upper-level careers keep them busy, but allow them to live comfortably. If you're an executive and want to keep similar company, consider settling in this neighborhood, rated as an executive lifestyle "best choice" neighborhood for Louisiana by NeighborhoodScout's analysis, which rated it as better for executive lifestyles than 98.5% of the neighborhoods in Louisiana. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for urban sophisticates.
Also, do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. NeighborhoodScout's research revealed that a full 76.7% of the adults living in the Lake Terrace / University of New Orleans neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 96.6% of U.S. neighborhoods. In this way, this neighborhood truly stands out.
The Lake Terrace / University of New Orleans neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 98.9% of the neighborhoods in America. In fact, 79.9% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.
Vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 30.4% of the residential real estate vacant, the Lake Terrace / University of New Orleans neighborhood claims the distinction of having a higher vacancy rate than 95.2% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.
Did you know that the Lake Terrace / University of New Orleans neighborhood has more French ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 7.2% of this neighborhood's residents have French ancestry.
Lake Terrace / University of New Orleans is also pretty special linguistically. Significantly, 0.5% of its residents five years old and above primarily speak Persian at home. While this may seem like a small percentage, it is higher than 95.2% of the neighborhoods in America.
There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.
The neighbors in the Lake Terrace / University of New Orleans neighborhood in New Orleans are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 87.4% of the neighborhoods in America. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America's neighborhoods.
What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.
In the Lake Terrace / University of New Orleans neighborhood, 79.9% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 11.2% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (4.7%), and 4.4% in government jobs, whether they are in local, state, or federal positions.
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 Lake Terrace / University of New Orleans neighborhood is English, spoken by 81.7% of households. Other important languages spoken here include Spanish and Chinese.
Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.
In the Lake Terrace / University of New Orleans neighborhood in New Orleans, LA, residents most commonly identify their ethnicity or ancestry as Asian (9.9%). There are also a number of people of German ancestry (7.4%), and residents who report French roots (7.2%), and some of the residents are also of English ancestry (6.5%), along with some Irish ancestry residents (5.4%), among others. In addition, 12.4% of the residents of this neighborhood were born in another country.
Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Lake Terrace / University of New Orleans neighborhood spend under 15 minutes commuting one-way to work (43.4% of working residents), one of the shortest commutes across America.
Here most residents (71.2%) 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 (5.9%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.