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Real Estate Prices & Overview

Algonquin East median real estate price is $341,214, which is more expensive than 82.6% of the neighborhoods in Kentucky and 49.6% of the neighborhoods in the U.S.

The average rental price in Algonquin East is currently $1,395, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 49.5% 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

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

People

NeighborhoodScout's analysis shows that the Algonquin East neighborhood has a greater concentration of residents currently enrolled in college than 99.7% of the neighborhoods in the U.S. With 82.5% of the population here attending college, this is very much a college-focused neighborhood.

In addition, one of the unique characteristics of the Algonquin East neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 96.3% of the neighborhoods in America. 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

More people in Algonquin East choose to walk to work each day (15.6%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.

Occupations

From major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the Algonquin East neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 96.1% of all American neighborhoods.

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

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 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.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

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

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 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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