University Area median real estate price is $306,721, which is more expensive than 76.8% of the neighborhoods in Louisiana and 41.0% of the neighborhoods in the U.S.
The average rental price in University Area is currently $1,429, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 46.4% of Louisiana neighborhoods.
University Area is a rural 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 apartment complexes/high-rise apartments. 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.
University Area 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.
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.
NeighborhoodScout's analysis shows that the University Area neighborhood has a greater concentration of residents currently enrolled in college than 99.2% of the neighborhoods in the U.S. With 48.1% of the population here attending college, this is very much a college-focused neighborhood.
In addition, one of the unique characteristics of the University Area neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 95.0% of the neighborhoods in America.
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 6.4% of college-friendly places to live in LA.
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 40.9% of the real estate here is made up of such dwellings, which is higher than 97.2% of all U.S. neighborhoods.
Our research reveals that 90.4% 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 96.9% of U.S. neighborhoods.
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. 58.8% 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 95.6% of U.S. neighborhoods. Less time commuting means more time for other things in life.
Significantly, 2.8% 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 96.3% 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 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 95.0% of U.S. neighborhoods. With 51.0% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 94.3% 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 University Area neighborhood, 33.2% 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 25.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (21.5%), and 18.9% in manufacturing and laborer occupations.
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 88.9% of households. Other important languages spoken here include Spanish and Arabic.
Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.
In the University Area neighborhood in Monroe, LA, residents most commonly identify their ethnicity or ancestry as English (7.4%). There are also a number of people of Polish ancestry (4.6%), and residents who report Irish roots (4.5%), and some of the residents are also of French ancestry (3.7%), along with some Italian ancestry residents (3.6%), among others.
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 (58.8% of working residents), one of the shortest commutes across America.
Here most residents (90.4%) 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.