Faubourg Lafitte median real estate price is $482,097, which is more expensive than 92.4% of the neighborhoods in Louisiana and 62.8% of the neighborhoods in the U.S.
The average rental price in Faubourg Lafitte is currently $2,151, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 93.3% 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.
Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in New Orleans, the Faubourg Lafitte neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Occupations
The Faubourg Lafitte neighborhood has a greater proportion of government workers living in it than 100.0% of the neighborhoods in America, according to NeighborhoodScout's exclusive analysis. This is a unique feature of this neighborhood, and one that shapes its character.
Furthermore, the Faubourg Lafitte neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 99.9% of the neighborhoods in America. In fact, 89.9% 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.
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
Single parenting is hard. But you don't have to tell the Faubourg Lafitte neighborhood about it; they already know. 36.2% of this neighborhood's households are run by single mothers, which is a higher concentration than NeighborhoodScout found in 99.8% of American neighborhoods. Further NeighborhoodScout research showed strong statistical correlations among high rates of children living in single parent households, and neighborhood crime, particularly violent crime, neighborhood poverty, and, importantly, the percentage of low weight births and rates of infant mortality.
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, neighborhoodScout's exclusive research revealed that 96.9% of the adult residents in the Faubourg Lafitte neighborhood do not have a 4-year college degree, which is a lower rate of college graduated adults than found in 98.3% of the neighborhoods in America.
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.
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.
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 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 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 Faubourg Lafitte neighborhood in New Orleans, LA, residents most commonly identify their ethnicity or ancestry as English (8.2%).
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 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.
