Lake Terrace / University of New Orleans median real estate price is $436,528, which is more expensive than 92.8% of the neighborhoods in Louisiana and 65.1% of the neighborhoods in the U.S.
The average rental price in Lake Terrace / University of New Orleans is currently $956, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 89.9% 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 23.8%. This is higher than the rate of vacancies in 90.2% 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.
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.
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 97.8% of the neighborhoods in Louisiana.
Also, the rate of college educated adults in the Lake Terrace / University of New Orleans neighborhood is a unique characteristic of the neighborhood. 78.1% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 33.7% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 97.3% of all U.S. neighborhoods.
The Lake Terrace / University of New Orleans neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 98.5% of the neighborhoods in America. In fact, 76.9% 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.
Did you know that the Lake Terrace / University of New Orleans neighborhood has more Haitian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.6% of this neighborhood's residents have Haitian 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.
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 Lake Terrace / University of New Orleans neighborhood in New Orleans are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 80.4% 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, 76.9% 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 10.3% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (7.0%), and 5.8% in clerical, assistant, and tech support occupations.
The most common language spoken in the Lake Terrace / University of New Orleans neighborhood is English, spoken by 87.1% of households. Some people also speak Chinese (3.8%).
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 Lake Terrace / University of New Orleans neighborhood in New Orleans, LA, residents most commonly identify their ethnicity or ancestry as German (11.0%). There are also a number of people of Asian ancestry (8.9%), and residents who report English roots (8.4%), and some of the residents are also of French ancestry (5.8%), along with some Irish ancestry residents (5.1%), among others. In addition, 10.4% 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 (38.9% of working residents), one of the shortest commutes across America.
Here most residents (77.9%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (9.7%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.