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Real Estate Prices & Overview

Faubourg Lafitte median real estate price is $485,230, which is more expensive than 93.3% of the neighborhoods in Louisiana and 66.9% of the neighborhoods in the U.S.

The average rental price in Faubourg Lafitte is currently $2,175, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 93.7% of the neighborhoods in Louisiana.

Faubourg Lafitte is an urban neighborhood (based on population density) located in New Orleans, Louisiana.

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

Faubourg Lafitte has a 10.5% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 63.5% 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

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.

Occupations

The government often provides some of the more stable jobs in the economy. From local, to state, to federal government workers, the government can also be a major employer. What NeighborhoodScout's analysis revealed, is that the Faubourg Lafitte neighborhood in particular stands out when compared nationally for the proportion of its working residents who are employed by the government. At 60.7% of its workforce, this neighborhood has a greater concentration of government workers than 100.0% of U.S. neighborhoods.

Furthermore, executives, managers and professionals make up 89.9% of the workforce in the Faubourg Lafitte neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 99.9% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.

Modes of Transportation

More people in Faubourg Lafitte choose to walk to work each day (70.8%) 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.

People

Whether by choice, divorce, or unplanned pregnancy, single moms may have the toughest job in the book. NeighborhoodScout's exclusive analysis reveals that the Faubourg Lafitte neighborhood has more single mother households than 99.8% of the neighborhoods in the U.S. Often high concentrations of single mother homes can be a strong indicator of family and social issues such as poverty, high rates of school dropouts, crime, and other societal problems.

In addition, the Faubourg Lafitte neighborhood has a greater percentage of children living in poverty (84.6%) than found in 99.6% 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 Faubourg Lafitte neighborhood is unique for having just 3.1% of adults here having earned a bachelor's degree. This is a lower rate of college graduates than NeighborhoodScout found in 98.3% of America's neighborhoods.

Real Estate

100.0% of the real estate in the Faubourg Lafitte neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.

In addition, three-deckers, duplexes, old Victorian homes cut up into apartments. Independent stores on the corner selling pizza. These are some of the hallmarks of neighborhoods with lots of small 2, 3, and 4 unit apartment buildings. The Faubourg Lafitte neighborhood really stands out in this regard, however, as it is dominated by such small apartment buildings more than nearly any other neighborhood in America. This is a stunning visual and lifestyle example of this type of neighborhood. In fact, 53.9% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 98.8% of America's neighborhoods.

Furthermore, homes built from 2000 through today make up a higher proportion of the Faubourg Lafitte neighborhood's real estate landscape than 97.1% of the neighborhoods in America. When you are driving around this neighborhood, you'll notice right away that it is one of the newest built of any, with the smell of fresh paint, and the look of young landscaping nearly everywhere you look. In fact, 78.0% of the residential real estate here is classified as newer.

Migration / Stability

Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. In the Faubourg Lafitte neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 99.0% 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 Faubourg Lafitte neighborhood in New Orleans are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 100.0% of U.S. neighborhoods. With 84.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 99.6% 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 Faubourg Lafitte neighborhood, 89.9% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is government jobs, whether they are in local, state, or federal positions, with 60.7% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (10.1%).

Languages

The most common language spoken in the Faubourg Lafitte neighborhood is English, spoken by 100.0% of households.

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 Faubourg Lafitte neighborhood in New Orleans, LA, residents most commonly identify their ethnicity or ancestry as English (8.2%).

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 Faubourg Lafitte neighborhood spend between 30 and 45 minutes commuting one-way to work (60.7% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (70.8%) hop out the door and walk to work to get to work. In addition, quite a number also drive alone in a private automobile to get to work (29.2%) . This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.


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