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Real Estate Prices & Overview

University Area median real estate price is $291,266, which is more expensive than 78.0% of the neighborhoods in Louisiana and 44.7% of the neighborhoods in the U.S.

The average rental price in University Area is currently $1,399, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 44.0% of Louisiana neighborhoods.

University Area is a suburban neighborhood (based on population density) located in Monroe, Louisiana.

University Area real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings and single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the University Area neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.

Vacant apartments or homes are a major fact of life in University Area. The current real estate vacancy rate here is 17.6%. This is higher than the rate of vacancies in 82.2% 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.

Notable & Unique Neighborhood Characteristics

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.

Modes of Transportation

Our research reveals that 95.2% of commuters who live in the University Area neighborhood get to work each day by driving alone in their automobiles, which is a higher proportion than 99.3% of U.S. neighborhoods.

People

An extraordinary 49.3% of the residents of the University Area 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 University Area neighborhood has a greater percentage of children living in poverty (66.5%) than found in 98.0% of all U.S. neighborhoods. Children living in poverty is one of the challenges facing America, and the world, and in this neighborhood in particular, the problem can be considered acute.

Also, the University Area neighborhood stands out within Louisiana for its college student friendly environment. NeighborhoodScout's analysis reveals that this neighborhood is home to a number of college students, is relatively walkable, and above average in safety. In combination, this makes it stand out for a good place for college students to consider. Because a number of college students live here, this neighborhood may be close to a college campus and offer certain amenities nearby geared towards the student body. While it's not an environment for everyone, ambitious scholars can enjoy seasonal excitement between semesters and school breaks, and parents can rest easy knowing that the area has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 6.0% of college-friendly places to live in LA.

Real Estate

Corner bodegas, stores on the first floor and apartments above, former grand Victorian residences converted into apartments, three-deckers built shoulder-to-shoulder, duplexes. Such building types define the real estate of neighborhoods dominated by small 2, 3, and 4 unit apartment buildings. Many are in older core neighborhoods of Eastern and Midwestern cities, or historic town centers in their hinterlands. If you wax romantic about the look and feel of such neighborhoods, with fresh pizza, falafel and an independent florist at the corner, then you might find the University Area neighborhood worth a close look. This neighborhood is an absolutely outstanding example of the dominance of small 2, 3, and 4 unit apartment buildings compared to neighborhoods across the nation, as they make up a substantial portion of this neighborhood's real estate stock. In fact, no less than 39.8% of the real estate here is made up of such dwellings, which is higher than 96.9% of all U.S. neighborhoods.

Length of Commute

Regardless of the means by which residents commute, this neighborhood has a length of commute that is notable. Residents of the University Area neighborhood have the pleasure of having one of the shortest commutes to work of any neighborhood in America. 62.1% of the residents have a commute time from home to work (one way) of less than fifteen minutes. This is a higher proportion of residents enjoying a short trip to work than NeighborhoodScout found in 96.7% of U.S. neighborhoods. Less time commuting means more time for other things in life.

Diversity

Did you know that the University Area neighborhood has more Arab ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.0% of this neighborhood's residents have Arab ancestry.

University Area is also pretty special linguistically. Significantly, 3.0% of its residents five years old and above primarily speak Arabic at home. While this may seem like a small percentage, it is higher than 96.7% of the neighborhoods in America.

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 University Area neighborhood in Monroe are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 92.5% of U.S. neighborhoods. With 66.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 98.0% of U.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 University Area neighborhood, 33.0% 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 23.8% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (21.9%), and 20.3% in manufacturing and laborer 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 University Area neighborhood is English, spoken by 90.9% of households. Other important languages spoken here include Arabic and Spanish.

Ethnicity / Ancestry

Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.

In the University Area neighborhood in Monroe, LA, residents most commonly identify their ethnicity or ancestry as English (12.5%). There are also a number of people of Irish ancestry (5.5%), and residents who report Italian roots (4.4%), and some of the residents are also of Asian ancestry (3.6%), along with some Sub-Saharan African ancestry residents (3.3%), 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 University Area neighborhood spend under 15 minutes commuting one-way to work (62.1% of working residents), one of the shortest commutes across America.

Here most residents (95.2%) drive alone in a private automobile to get to work. 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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